Equifax Data Breach

New York Consumer Law Blog

Tuesday, September 20, 2016

Corporate corruption runs very deep

http://www.cnbc.com/2016/09/20/wells-fargo-has-cut-checks-to-congressional-questioners-campaigns.html

It's a different spin on the system of "checks and balances."

Wells Fargo has cut checks to the congressional campaigns of politicians on both sides of the aisle, including some who are questioning CEO John Stumpf on Capitol Hill Tuesday.

The Wells Fargo and Company Employee PAC has made donations to 20 of 22 members of the Senate Committee on Banking, Housing and Urban Affairs, including ranking Democrat Sen. Sherrod Brown and Republican Chairman Sen. Richard Shelby, according to a review of Federal Election Commission data.

Among the GOP committee members, only Louisiana Sen. David Vitter did not receive a donation from Wells Fargo's PAC, and among Democrats, only Massachusetts Sen. Elizabeth Warren has not been the recipient of any PAC cash.

CEO Stumpf has also donated personally to several senators who will grill him on Wells Fargo's fake account scandal on Tuesday morning.


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