FIRST AIRED: April 25, 2017

Nice work! Enjoy the show!


You’re busy. We get it.

Stay on top of the news with our Editor’s Picks newsletter.

US Edition
Intl. Edition
Unsubscribe at any time. One click, it’s gone.

Thanks for signing up!



>> Yelling and screaming at Wells Fargo's annual meeting Tuesday. Shareholders demanding answers on what the board knew about the banks creation of nearly 2 million fake accounts. Reuters correspondent Ross Kirber was listening in from Boston.>> You had shareholder after shareholder getting up during the comments period to voice some kind of dissatisfaction.
To voice that they were just really looking for more, or that the current chairman, Stephen Sanger, had just not done enough. There was one particular shareholder who said, you're saying we're out of order, Wells Fargo has been out of order for years. So it was really some dramatic moments at this shareholder event.
>> Despite the three hour showdown, shareholders re-elected all 15 directors to the bank's board, but some, with scant support.>> This is really a black eye for Wells Fargo's top leadership, especially Stephen Sanger, the chairman got 56% support. That, is just a low level according to all the experts I've seen.
This is not like a presidential election where you're trying to get a majority and then you have a mandate. This is one where the average S&P 500 director gets about 95% support at these companies. This is a sign that a lot of large investors were not happy with their performance.
They're gonna have to come to terms with that in some way.>> Wells Fargo has launched an independent investigation into the fake accounts fiasco, which resulted in a $190 million settlement with regulators and customers. And eventually led to the resignation of former CEO, John Stumpf.>> Take care of these customers.