March 10, 2020 / 6:56 PM / 20 days ago

U.S. House lawmaker asks Justice Department whether former Wells Fargo CEO Sloan broke law in 'misleading' Congress

WASHINGTON (Reuters) - The chair of the U.S. House Financial Services Committee has asked the Justice Department to review whether former Wells Fargo CEO Timothy Sloan broke the law in giving “misleading” sworn testimony to Congress.

In a letter sent Tuesday, Representative Maxine Waters said Sloan was “inaccurate and misleading” when he told the panel last year that the bank was complying with a settlement to remediate customers harmed by its sales practices. She asked the agency to review whether he broke the law by making a false statement to Congress.

The Justice Department and lawyers for Sloan did not immediately respond to requests for comment.

Reporting by Pete Schroeder; Editing by Dan Grebler

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