Speaking at an industry conference Thursday, Wells Fargo CEO Tim Sloan left open the possibility that employees intentionally falsified important regulatory documents.
The $1.9 trillion-asset bank is under pressure to provide investors more information about when it expects to resolve the numerous headaches that have arisen in the wake of its phony-accounts scandal.
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News that Wells commercial banking employees improperly altered client documents will likely embolden the most vocal critics of CEO Tim Sloan, who they say can't seem to resolve Wells' lingering problems.
The class-action lawsuit filed by investors alleged that bank executives deliberately failed to disclose the full nature of its cross-selling practices to shareholders.
CEO Tim Sloan and board chair Elizabeth Duke fielded tough questions Tuesday on everything from the embattled bank’s culture to its ties to the private prison industry.
