The Senate Banking Committee
is scheduled to hear directly from the chief executives of Wells Fargo and Equifax next month on the companies’ ongoing financial scandals.
Wells Fargo President and CEO Timothy Sloan is scheduled to testify at 10 a.m. (Eastern time) Tuesday, Oct. 3, on the megabank’s phony-account scandal, which was settled with federal regulators just over a year ago. The following day, Equifax Chairman and CEO Richard F. Smith will testify on the credit rating agency’s massive data breach.
It will be the first appearance by an Equifax executive since it announced that the sensitive financial information of up to 143 million Americans was exposed during the breach. Sloan’s predecessor at Wells Fargo, John Stumpf, appeared before Congress shortly after the bank’s settlement was announced last year.