The banking boss seemed taken aback when his company was accused of complicity in the Trump administration's child detention policy.
Representative Alexandra Ocasio-Cortez grilled Wells Fargo CEO Tim Sloan in a tense exchange at the US House Financial Services Committee meeting on Wednesday.
Ocasio-Cortez has pledged to use her membership of the panel to raise questions about the financial sector's connection to broader social ills. But Ocasio-Cortez asked why Wells Fargo had financed the companies who built immigration detention centers in which children were separated from their parents."Why was the bank involved in the caging of children and financing the caging of children to begin with?" The freshman representative from New York fired off at the executive, who for a moment seemed nonplussed.
"So hypothetically, if there was a leak from the Dakota Access Pipeline, why shouldn't Wells Fargo pay for the cleanup of it, since it paid for the construction of the pipeline itself?" she asked. But how does she want banks to change? Her lines of questioning on Wednesday indicate that she's seeking a radical shakeup of the concept of corporate responsibility, with lenders in some cases footing the bill for environmental catastrophes caused by customers.seperating commercial and investment banking activities, and investigating the student loan crisis."I have a Wells Fargo auto loan, are they responsible if I crash my car, wrote one highly rated critic on CSPAN's website.
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