Wells Fargo CEO 'deeply sorry' for fake accounts scandal

Wells Fargo CEO John Stumpf told members of Congress Tuesday morning that he was “deeply sorry” that the bank created millions of accounts for fake customers in the face of pressure to expand its business.

Stumpf testified to the Senate Banking Committee that there was “no orchestrated” effort by the company to push employees to create accounts without customers’ knowledge, which included steps like faking PINs and email addresses, and said that the company has worked hard to address its own business culture.