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Wells Fargo's 'deeply sorry' CEO says bank reacted too slowly to abuses

John Stumpf appears before Senate banking committee on scandal of staff opening unauthorised accounts

Mr Stumpf may also face questions on Tuesday about whether Wells Fargo set the stage for abuses with aggressive sales targets tied to bonuses.


WELLS Fargo & Co's John Stumpf, struggling to quell a scandal and demands for management accountability, told US lawmakers on Tuesday that the bank failed customers and the public by reacting too slowly to signs that employees were opening millions of unauthorised accounts

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