Wells Fargo CEO Apologizes to Fake Account Customers

The transcript discusses Wells Fargo's response to a fake account scandal, including an email sent to 16.5 million customers. It anticipates discussions on Capitol Hill about the issue, highlighting the impact on Americans, such as credit score damage. The situation is compared to other financial scandals, noting Wells Fargo's previously strong reputation. The future outlook for the bank and its CEO, John Stumpf, is also considered.

How many customers did Wells Fargo send an email to regarding the fake account scandal?

• 20 million

• 16.5 million

• 10 million

• 25 million

What was one of the impacts on customers due to the fake accounts?

• Unauthorized money transfers

• Loss of savings

• Increase in interest rates

• Closure of accounts

Which financial scandal was mentioned as being more significant than the Wells Fargo scandal?

• Bernie Madoff Ponzi Scheme

• Lehman Brothers Collapse

• London Whale

• Enron Scandal

What was John Stumpf's reputation before the scandal?

• A risk-taker

• Mr. Clean

• An unknown banker

• A controversial figure

How might customers feel after receiving an email about the scandal?

• Angry

• Relieved to be informed

• Indifferent

• Confused