Wells Fargo Chair Resigns Ahead Of House Testimony

The New York Times reports:

Wells Fargo’s chairwoman, Elizabeth A. Duke, has resigned, the bank announced on Monday, bowing to pressure from Washington ahead of what is likely to be another round of grilling from Congress over its history of deceptive consumer practices.

Ms. Duke, who is known as Betsy, resigned on Sunday. She had been the bank’s chairwoman since January 2018, and a director since 2015. James H. Quigley, a director since 2013, also quit the board.

Both had been focuses of a recent report by the House Financial Services Committee that faulted Wells Fargo directors and executives over their interactions with regulators.

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