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Elizabeth Warren to The Fed: Break Up Wells Fargo  

Senator Elizabeth Warren says Wells Fargo should be broken up after years of scandal. She is calling on the Federal Reserve to take action and revoke the company’s status as a financial holding company. So reports CNN.

warren 4734811 640smallShe wants Wells to be required to separate its banking and non-banking businesses.

"Every single day that Wells Fargo continues to maintain these depository accounts is a day that millions of customers remain at risk of additional negligence and willful fraud," Warren wrote to Jerome Powerll, Chair of the Federal Reserve. "The only way these consumers and their bank accounts can be kept safe is through another institution—one whose business model is not dependent on swindling customers for every last penny they can get. The Fed has the power to put consumers first, and it must use it."

Read the full article from CNN.

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