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MPR News Staff

What is the future of Wells Fargo?

John Stumpf
Wells Fargo CEO John Stumpf testifies on Capitol Hill in Washington on Sept. 29 before the House Financial Services Committee investigating Wells Fargo's opening of unauthorized customer accounts.
Cliff Owen | AP file

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Since Wells Fargo dismissed CEO John Stumpf over opening millions of new accounts fraudulently, the company is under increased pressure from legislators who want more accountability in the banking industry.

How did bank regulations fail to stop Wells Fargo from profiting from millions of fake accounts? James Koren, bank and finance journalist for the Los Angeles Times, explored the problems with bank regulations and looked at what a class action lawsuit could cost Well Fargo.