Skip to main content

Sign up for our newsletter.

Quality journalism. Progressive values. Direct to your inbox.

Please Support Common Dreams This #GivingTuesday

Our coverage of the climate emergency, Covid-19, and rising authoritarianism have intensified over the last two years. But our expenses during the pandemic have gone up as well. This has been one of the toughest years we’ve ever faced. Though our content is free to all, less than 1% of our readers ever make a donation. We're counting on you. Please support independent media today.

Please Help This #GivingTuesday -- Though our content is free to all, less than 1% of our readers give. We’re counting on you. Please help Common Dreams end the year strong.

Sen. Elizabeth Warren (D-Mass.) listens during a hearing before the Senate Banking, Housing and Urban Affairs Committee on January 30, 2018 in Washington, D.C. (Photo: Pete Marovich/Getty Images)

'Good,' Says Warren, After Trump Bank Regulator Calls Her Tough Questioning on Wells Fargo 'Insulting'

"People all across this country were scammed and squeezed by Wells Fargo," said the Massachusetts senator

Jake Johnson

Sen. Elizabeth Warren made clear Wednesday that she has no sympathy for one of the Trump administration's top bank regulators after he called a tough line of questioning on Wells Fargo "insulting."

"The OCC never uttered a peep about their executives who were leading this. The OCC blew it once by letting Tim Sloan take over. This time, you need to show your work and make your supervision public."
—Sen. Elizabeth Warren

"Good," responded Warren, a 2020 Democratic presidential candidate, after Office of the Comptroller of the Currency (OCC) chief Joseph Otting objected to the Massachusetts senator's criticism of the Trump administration's bank-friendly regulatory practices and lack of transparency.

The Massachusetts senator pushed Otting on his plan to keep secret the Trump administration's assessment of the successor to former Wells Fargo CEO Tim Sloan, whose scandal-plagued tenure ended with his abrupt resignation in March.

Warren—who frequently called for Sloan's ouster and applauded when he stepped down—asked Otting to commit to "publicly disclosing the OCC's evaluation of the 'competence, experience, character, or integrity' of the next Wells CEO."

When Otting refused—citing his "prerogative"—and claimed "no one has been more tougher [sic]" on Wells Fargo than himself, Warren said, "At the OCC? That's a low bar."

"I find that insulting that you would make that comment," said Otting, to which Warren replied, "Good."

Watch the exchange, which took place at a Senate Banking Committee hearing:

Warren proceeded to highlight the widespread impact Wells Fargo's massive fake account scandal had on millions of Americans.

"You know, people all across this country were scammed and squeezed by Wells Fargo," said Warren. "Their houses were taken away, their cars were stolen, because the bank's executives were more concerned about making mountains of money than about following the law."

"And the OCC never uttered a peep about their executives who were leading this. The OCC blew it once by letting Tim Sloan take over. This time, you need to show your work and make your supervision public. That way consumers and Congress can hold you accountable."


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.

New Research Finds Climate Emergency the 'Overwhelming Factor' Behind Australian Bushfires

"It is now clear that human-induced climate change is creating ever more dangerous conditions for fires in Australia."

Andrea Germanos ·


Iran Says US Must Lift 'Tyrannical and Illegal' Sanctions to Return to Nuclear Deal

"The Islamic Republic of Iran has entered the talks with a strong will and elaborate preparations in order to ensure the removal of unlawful and cruel sanctions."

Jake Johnson ·


2.5 Million Nurses Demand UN Probe Into 'Covid-19 Criminals' Blocking Patent Waiver

The European Union, the United Kingdom, Switzerland, Norway, and Singapore "must be investigated for blocking a faster global vaccine rollout leading to the loss of countless lives."

Jake Johnson ·


WHO, South Africa Urge Nations to Lift 'Naive' Omicron Travel Bans

"The only thing the prohibition on travel will do is to further damage the economies of the affected countries and undermine their ability to respond to, and recover from, the pandemic."

Brett Wilkins ·


EU Joins Rights Group in Condemning Israel's 'Day of Destruction' of Palestinian Homes

"Demolitions are illegal under international law and significantly undermine the prospects for peace."

Brett Wilkins ·

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