Congressman Sherman Statement on Resignation of Wells Fargo Chief

Sherman Oaks, CA – Congressman Sherman, Senior Democrat on the Financial Services Committee issued the following statement.

"Stumpf resigning is not enough. It was not just the mistakes of one person that caused massive fraud at Wells Fargo. The big banks in this country are too big to fail, and they are also too big to manage. It’s time to break up the big banks in this country. It’s time to pass the Sanders-Sherman bill.”  

The Sanders-Sherman bill to break up the too-big-to-fail banks is H.R. 2600 in the House and S. 1206 in the Senate. Congressman Sherman and Senator Bernie Sanders have introduced this legislation in the current and previous sessions of Congress. To see Congressman Sherman’s exchange with Federal Reserve Chairman on this issue, please click https://www.youtube.com/watch?v=ZpiS6nUwPrI. Congressman Sherman is available for interview on this topic.