In response to Wells Fargo CEO John Stumpf’s resignation following the Wells Fargo scandal

FOR IMMEDIATE RELEASE: Wednesday, October 12, 2016

Contact: Renata Pumarol, rpumarol@nycommunities.org, 646.462.9281

                Cara Newlon, cara.newlon@berlinrosen.com, 703.899.3206

In response to the resignation of Wells Fargo CEO John Stumpf following the Wells Fargo scandal and their settlement over fraudulent accounts, Khalid Taha, a former Wells Fargo personal banker and a member of the Committee for Better Banks, released the following statement:

“ For three years, bank workers like me warned Wells Fargo CEO John Stumpf about how the high-pressure sales goals at Wells Fargo were spiraling out of control—but he didn’t listen. Through the Committee for Better Banks, we protested, demanded meetings with top executives, and delivered petitions to Wells Fargo’s headquarters testifying to how these practices preyed on consumers and negatively affected our health. Stumpf is finally being held accountable for his actions, but we won’t stop at just one CEO:  bank workers across the industry need a collective voice to address our concerns and the concerns of our consumers. Otherwise another scandal is just waiting to happen. ”

 

ABOUT THE COMMITTEE FOR BETTER BANKS

The Committee for Better Banks brings together bank workers, consumers and advocates to end high pressure sales goals that lead to predatory banking practices. Workers are mobilizing dozens of states including Massachusetts, California, Texas, Missouri, Rhode Island, Minnesota and Florida, and through the Committee, workers and consumers are seeking measures to rein in the nation’s biggest banks.

 

Organizations involved include: Alliance of Californians for Community Empowerment (ACCE), Make the Road New York, New York Communities for Change (NYCC), Minnesotans for Fair Economy, Jobs with Justice and local affiliates, the Communications Workers of America union (CWA) and UNI Global Union.

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