What Will Wells Fargo CEO Stumpf Say to Committee?

The transcript discusses the ongoing issues with Wells Fargo, including financial clawbacks and executive actions. It highlights the Senate's unanswered questions and California's decision to suspend dealings with the bank. The potential impact on other banks and regulatory changes, such as Dodd Frank, are also explored. The political implications of these events are debated, with differing views from Democrats and Republicans.

What action did the state of California take against Wells Fargo?

• Offered a bailout

• Increased their credit limit

• Suspended dealings for a year

• Imposed a fine

What is one potential outcome discussed regarding the Dodd-Frank Act?

• Breaking up large banks

• Its complete repeal

• Reducing interest rates

• Strengthening its provisions

Which organization was created as a result of the Dodd-Frank Act?

• Federal Deposit Insurance Corporation

• Consumer Financial Protection Bureau

• Federal Reserve

• Securities and Exchange Commission

What is the main concern of Democrats regarding the Wells Fargo issue?

• Increasing bank profits

• Reducing taxes on banks

• Eliminating the CFPB

• The need for more regulation

How do some Republicans view the Wells Fargo situation?

• As a call to break up banks

• As a reason to increase regulations

• As an isolated issue

• As a reason to abolish the CFPB