The chair of the U.S. House Financial Services Committee has asked the Justice Department to review whether former Wells Fargo CEO Timothy Sloan broke the law in giving "misleading" sworn testimony to Congress.
In a letter sent Tuesday, Representative Maxine Waters said Sloan was "inaccurate and misleading" when he told the panel last year that the bank was complying with a settlement to remediate customers harmed by its sales practices. She asked the agency to review whether he broke the law by making a false statement to Congress.
The Justice Department and lawyers for Sloan did not immediately respond to requests for comment.
(Reporting by Pete Schroeder; Editing by Dan Grebler)
Presently, Timothy J. Sloan occupies the position of Chief Executive Officer at Wells Fargo Bank, NA (Sioux Falls, South Dakota) and Chief Financial Officer at Wachovia Preferred Funding Corp. Mr. Sloan is also on the board of Ohio Wesleyan University and City of Hope (California) and Associate Trustee at San Marino Schools Foundation and Trustee at California Institute of Technology. Mr. Sloan previously was President, Chief Executive Officer & Director at Wells Fargo & Co. and Chief Executive Officer of Wells Fargo Bank NA (a subsidiary of Wells Fargo & Co.). Timothy J. Sloan received an undergraduate degree and an MBA from the University of Michigan.
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| Wachovia Preferred Funding Corp. | Director of Finance/CFO |
