March 5, 2020 / 5:07 PM / a month ago

Former Wells CEO Sloan faces possible criminal referral for misleading Congress: lawmaker

FILE PHOTO: Former Wells Fargo CEO Tim Sloan testifies before a House Financial Services Committee hearing titled: "Holding Megabanks Accountable: An Examination of Wells Fargo's Pattern of Consumer Abuses" in Washington, U.S. March 12, 2019. REUTERS/Erin Scott

WASHINGTON (Reuters) - A key House lawmaker said Thursday that she is considering referring former Wells Fargo chief executive Timothy Sloan to the Department of Justice, saying he misled Congress in sworn testimony one year ago.

Representative Maxine Waters, who chairs the House Financial Services Committee, also called for the resignations of the bank’s chair Betsy Duke and board member James Quigley, saying they failed in their roles amid the bank’s long-running sales practice scandals.

Reporting by Imani Moise and Pete Schroeder; Editing by Chizu Nomiyama

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