Arguing that committing a massive fraud that creates millions of phony consumer accounts should not be the sort of thing that banking executives should be allowed to get rich doing — lawmakers are beginning to ask Wells Fargo CEO John Stumpf some tough questions about just what exactly it intends to do about all those executives it bonused extravagantly for cheating people.

Specifically, they would really like to know if Strumpf has any interesting plans for clawing some of those funds back.

Led by consumer protection advocate Senator Elizabeth Warren, a group of Democratic Senators has asked Wells’ Chairman and CEO whether or not the bank intends to take some of that compensation back from executives and managers who allegedly suborned and supported the opening of two million fraudulent accounts. Specifically, the lawmakers referred to Carrie Tolstedt, who led the unit where the alleged misconduct occurred. Read More