Skip to main content

Sign up for our newsletter.

Quality journalism. Progressive values. Direct to your inbox.

Sen. Elizabeth Warren speaking at an even in Manchester, New Hampshire on Jan. 12, 2019.

Sen. Elizabeth Warren speaking at an even in Manchester, New Hampshire on Jan. 12, 2019. (Photo: Marc Nozell/flickr/cc)

A Very "Informed" Elizabeth Warren Explains Exactly Why Wells Fargo CEO Tim Sloan Should Be Fired

"It's clear that Tim Sloan isn't the right person to try to clean up Wells Fargo," senator says in Monday morning Twitter thread.

Andrea Germanos

U.S. Sen. Elizabeth Warren (D-Mass.) on Monday reiterated her calls for Wells Fargo CEO Tim Sloan to be fired, saying, "His hands are too dirty from overseeing years of scams and scandals."

The Massachusetts Democrat—who recently announced a 2020 exploratory committee—outlined her reasoning in an eight-part Twitter thread. It came in response to Sloan's interview Friday with CNBC's Jim Cramer, who said, referring to Warren, "Tim, she wants you gone."

Sloan responded by saying she "can have that opinion," and asserted that he's "taken responsibility" since he took over as CEO in 2016 after serving as the bank's president and Chief Operating Officer (COO). "We were going to make things right by customers," he told Cramer. "And we were going to be very transparent about it. And we've done all that."

While Sloan accused Warren of not being "informed" about his record, the senator retorted that she's "actually been paying pretty close attention, and I've got a long list of reasons why I think he should be fired."

Warren levied similar criticisms in a letter (pdf) she sent in October to Federal Reserve Board Chairman Jerome Powell urging him not to lift the growth restriction penalty on the bank  "until the company's board of directors replaces CEO Tim Sloan with someone who is not deeply implicated in the bank's repeated and egregious misconduct."

"Banks exercise too much power in Washington," Warren told the Wall Street Journal in a recent interview. "One of the main things I've done is grassroots organizing to wave the flag and point out what's going on here and get some political pushback. Otherwise Congress and the administration will just continue to work for the big banks."


Our work is licensed under Creative Commons (CC BY-NC-ND 3.0). Feel free to republish and share widely.

We've had enough. The 1% own and operate the corporate media. They are doing everything they can to defend the status quo, squash dissent and protect the wealthy and the powerful. The Common Dreams media model is different. We cover the news that matters to the 99%. Our mission? To inform. To inspire. To ignite change for the common good. How? Nonprofit. Independent. Reader-supported. Free to read. Free to republish. Free to share. With no advertising. No paywalls. No selling of your data. Thousands of small donations fund our newsroom and allow us to continue publishing. Can you chip in? We can't do it without you. Thank you.

First Stop for Cuellar After FBI Raid? An Anti-Choice Event

"Despite being under an FBI investigation," said progressive primary challenger Jessica Cisneros, the congressman from Texas "has once again proven that nothing can stop him from opposing our reproductive rights and freedoms."

Brett Wilkins ·


House Calls Big Oil Board Members to Testify on 'Phony' Net-Zero Pledges

"It's critical that Congress holds these companies accountable and exposes the industry's fake climate pledges for the fraud that they are," said one supporter of Democrats' probe.

Jessica Corbett ·


'Time for Citizens United to Go': US Oligarchs Poured $1.2 Billion Into 2020 Elections

The figure represents a 39-fold increase compared to spending in 2010, the first election held after the widely decried ruling by the U.S. Supreme Court.

Jake Johnson ·


Biden Praised for $15 Minimum Wage Hike for All Federal Workers

"Setting a new $15 per hour wage floor for federal government work will encourage employers across the country who are currently paying poverty wages to compete for labor and start paying fairer rates."

Brett Wilkins ·


Sotomayor Excoriates Majority for 'Egregious' Attack on Texas Women

"This case is a disaster for the rule of law and a grave disservice to women in Texas, who have a right to control their own bodies," said the justice. "I will not stand by silently as a state continues to nullify this constitutional guarantee."

Julia Conley ·

Support our work.

We are independent, non-profit, advertising-free and 100% reader supported.

Subscribe to our newsletter.

Quality journalism. Progressive values.
Direct to your inbox.

Subscribe to our Newsletter.


Common Dreams, Inc. Founded 1997. Registered 501(c3) Non-Profit | Privacy Policy
Common Dreams Logo