Wells Fargo Chief Executive Tim Sloan is due to testify before the Senate Banking Committee on Oct. 3, sources familiar with the scheduled meeting said.
Sloan is due to brief lawmakers on work to remediate the bank after a phony accounts scandal erupted last year and a more recent scandal involving unwanted auto insurance.
Wells Fargo`s business has been under pressure for the past year after the bank initially disclosed it had opened as many as 2.1 million accounts without customer authorization over several years.
The ensuing scandal led to a company-wide review that turned up problems with other products, including auto and life insurance.
Last month, Wells Fargo said the unauthorized accounts totaled as many as 3.5 million.
Senator Elizabeth Warren in a CNBC interview on Tuesday again urged the Federal Reserve to hold Wells` board accountable following the fresh disclosure. (http://cnb.cx/2hhpgjT)
Sloan`s predecessor John Stumpf had also appeared before the Senate Banking Committee in September last year. http://reut.rs/2tLsbsv
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.