Massachusetts Sen. Elizabeth Warren on Tuesday called for the firing of Wells Fargo CEO Tim Sloan, accusing him of enabling the bank’s fake account scandal during which at least 3.5 million fraudulent accounts were created without customers’ knowledge.
“At best you were incompetent, at worst you were complicit,” Warren said. “Either way, you should be fired.”
Other committee members also sharply criticized Sloan, who became CEO of Wells Fargo last year after a stint as chief operating officer
“What in God’s name were you thinking?” asked Louisiana Sen. John Kennedy.
Sloan defended himself in front of the committee, saying he thinks Wells Fargo has taken significant steps to improve its reputation and that the actions he has taken has resulted in “fundamental change” at the company.
“I’m not afraid to make hard decisions when it’s needed, and I have the support of 270,000 people,” he said, referring to Wells Fargo’s employees. “That’s why I think I’m the right person.”
“Are you kidding?” Warren asked in response.
More Must-Reads from TIME
- L.A. Fires Show Reality of 1.5°C of Warming
- Behind the Scenes of The White Lotus Season Three
- How Trump 2.0 Is Already Sowing Confusion
- Bad Bunny On Heartbreak and New Album
- How to Get Better at Doing Things Alone
- We’re Lucky to Have Been Alive in the Age of David Lynch
- The Motivational Trick That Makes You Exercise Harder
- Column: All Those Presidential Pardons Give Mercy a Bad Name
Write to Mahita Gajanan at mahita.gajanan@time.com