Clinton Says Wells Fargo’s ‘Outrageous’ Acts Justify Oversight
- Consumer watchdog that fined bank proves its worth, she says
- Lender’s case shows Trump is wrong about regulation: Clinton
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Democratic presidential candidate Hillary Clinton said the consumer watchdog created under the Dodd-Frank overhaul of U.S. financial rules proved its value by fining Wells Fargo & Co. over claims that bank employees opened more than 2 million accounts without the approval of customers.
Donald Trump, Clinton’s Republican rival in the November election, is seeking to dismantle the Consumer Financial Protection Bureau, she said Friday in a statement. Trump calls government oversight of U.S. business “excessive” and has called for a pause on new rules and a review of existing regulations. Clinton said she applauded the panel’s response to Wells Fargo’s “outrageous behavior.”