Wells Fargo’s Duke Quits Before Turn in Washington Hot Seat
- Bank chair was under growing pressure to exit before hearings
- House panel to hear testimony from CEO Scharf, other leaders
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Wells Fargo & Co. Chair Betsy Duke resigned from the company’s board ahead of a dramatic congressional hearing set for this week, succumbing to the same political pressures that have claimed multiple former leaders of the bank.
The lender said Monday that board member Charles Noski will replace Duke as chair. Duke faced a growing chorus of calls for her departure after Democrats atop the House Financial Services Committee issued a scathing report last week on the bank’s response to a series of consumer scandals.