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Sens. Warren, Brown: Boot Wells Fargo CEO

Adam Smith

The two lawmakers sent a letter to the Office of the Comptroller of the Currency and the Consumer Financial Protection Bureau, calling on the agencies to "use their powers" under a consent order with Wells Fargo to remove Tim Sloan as the bank's leader. The two say the move is necessary after Wells Fargo allegedly failed to comply with the order and neglected to "adequately compensate customers harmed by its auto loan scandal." They also wrote to Federal Reserve Board Chairman Jerome Powell to request he keep a restriction on Wells Fargo's business growth until Sloan's removal.