Tuesday, September 27, 2016
POLL: 86% of Americans think Wells Fargo's CEO should resign
An overwhelming majority of people surveyed over the weekend think Wells Fargo's CEO, John Stumpf, should resign after a recent accounts scandal at the bank, according to a poll released Monday.
SurveyMonkey polled 507 adults on September 24 and 25, and 86% said that the bank's CEO should step down after it was found that employees had opened 2 million accounts for customers without their knowledge.
According to the survey, 71% of Americans think that Wells Fargo is an "untrustworthy bank," and 80% said that if they were a Wells Fargo customer they would consider closing their accounts.
Wells and Stumpf have been under fire for the past few weeks after the bank agreed to pay $185 million in fines to the Consumer Financial Protection Bureau, the Office of the Comptroller of the Currency, and the Los Angeles city prosecutor.
Following that announcement, Stumpf testified in front of the Senate banking committee, during which Sens. Elizabeth Warren and Jeff Merkley said the executive should resign or be fired.
"You should resign, you should give back the money you made while this scam was going on, and you should be criminally investigated by the Department of Justice and the Securities and Exchange Commission," Warren said.
Stumpf has not indicated he plans to step down, though he did remove himself from the Federal Advisory Council, which advises the Federal Reserve. Additionally, the CEO isn't facing pressure (that we know of) from the bank's largest shareholder, Warren Buffett, who said he would not comment on the situation until after the election in November.
SurveyMonkey said the survey was of a "proprietary online panel" that is representative of the US population.