Elizabeth Warren Urges Fed to Oust Wells Fargo Board Members

U.S. Senator Elizabeth Warren renewed her attack on Wells Fargo & Co., urging the Federal Reserve to remove the 12 directors who were on the board when bank employees set up legions of fake customer accounts.

Congress empowered the Fed to remove board members if they violate the law or engage in unsafe business practices that cause banks with federal deposit insurance to suffer losses, Warren, a Massachusetts Democrat, wrote in a letter Monday to Fed Chair Janet Yellen.