[Congressional Record (Bound Edition), Volume 163 (2017), Part 9]
[House]
[Page 13451]
[From the U.S. Government Publishing Office, www.gpo.gov]




                  CULTURE OF CORRUPTION AT WELLS FARGO

  (Mr. HIGGINS of New York asked and was given permission to address 
the House for 1 minute.)
  Mr. HIGGINS of New York. Mr. Speaker, Wells Fargo is the Nation's 
third largest bank, with nearly $2 trillion in assets. In the past 
several months, Wells Fargo has engaged in blatant and systemic fraud 
perpetrated against millions of its own customers by opening fee-
generating accounts without customer authorization, changing mortgage 
terms without customer knowledge, and forcing Wells Fargo auto loan 
customers into costly insurance products they did not need or want.
  Mr. Speaker, Wells Fargo has demonstrated a blatant, egregious 
culture of corruption, costing their customers tens of millions of 
dollars in unauthorized fees and financial hardship.
  Today I am calling on the Federal Housing Administration to ban, to 
immediately declare ineligible, Wells Fargo from participation in the 
Federal mortgage guarantee program. Wells Fargo has violated its public 
trust and that of millions of its own customers and clients.

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