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Senators Ask Labor Department to Investigate Wells Fargo Over Accounts Scandal

Senators Ask Labor Department to Investigate Wells Fargo Over Accounts ScandalA group of Senate Democrats have asked the U.S. Department of Labor to open an investigation into whether Wells Fargo violated the Fair Labor Standards Act (FLSA). The letter follows a hearing on Capitol Hill this week that saw bank CEO John Stumpf face blistering questions from senators over a scandal involving allegations from regulators that employees opened accounts without customers’ knowledge or permission. Separately, Stumpf resigned from his position on the Federal Advisory Council effective today, the San Francisco Federal Reserve Bank told ABC News.

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