Wells Fargo will pay $3 billion to resolve civil and criminal penalties with the Department of Justice and Securities and Exchange Commission related to its long-running fake accounts scandal, but the embattled bank is far from out of the woods.
In fact, Wells Fargo will be back under the microscope next month, when it faces three separate hearings in front of the House Financial Services Committee. New CEO Charles Scharf will serve as witness for the first of the hearings, each beginning with the title “Holding Wells Fargo Accountable.”
