POLL: 86% of Americans think that Wells Fargo's CEO should resign

Wells fargo CEO john StumpfWin McNamee/Getty ImagesJohn Stumpf, chairman and CEO of the Wells Fargo & Company, testifies before the Senate Banking, Housing and Urban Affairs Committee September 20, 2016 in Washington, DC.

An overwhelming majority of people surveyed over the weekend think Wells Fargo’s CEO should resign after a recent accounts scandal at the bank, according to a poll released Monday.
SurveyMonkey polled 507 adults on Sept. 24 and 25, and 86% said that the bank chief should step down after employees opened 2 million accounts for customers without their knowledge.

The survey also found that 71% of Americans think that Wells Fargo is an “untrustworthy bank” according to SurveyMonkey and 80% said 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 where both Sen. Elizabeth Warren and Sen. Jeff Merkley said that 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,” said Warren.

Stumpf as not indicated that he plans to step down, though he did remove himself from the Federal Reserve’s Federal Advisory Council. Additionally, the CEO does not face 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 U.S. population.

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