Bruce Marks was kicked out of Wells Fargo’s annual meeting. But that doesn’t mean he’s going away.
“Tuesday was just the beginning. It’s only going to get worse for these guys,” Marks, an activist with a long history of throwing verbal bombs at big banks, told CNNMoney.
The day before his outburst halted Wells Fargo’s shareholder meeting, Marks launched the Wells Fargo Justice Campaign. The grassroots fight is aimed at mobilizing Wells Fargo customers to dump the bank and fired employees to join lawsuits.
“We want to make sure people understand the Wells Fargo brand is toxic for consumers,” said Marks, who leads a nonprofit that helps homeowners fight foreclosure.
One of the criticisms of Wells Fargo centers around how much top executives and its board of directors knew about the scandal, and why they didn’t do more to stop it.
Marks interrupted the Wells Fargo shareholder meeting last week by screaming at the bank’s directors, demanding they explain what they knew about the bank’s fake account scandal. He asked board members if they had “the guts” to explain if they “were complicit or incompetent” in their knowledge of the scandal where 5,300 employee were fired for creating some two million fake accounts.
Wells Fargo (WFC) execs pleaded with Marks to sit down because he was out of order and eventually had to stop the meeting temporarily.
Marks said he was “dragged out” of the meeting by security and the sheriff’s department. He received a summons, as well as a lifetime ban from the Marriott Sawgrass, the Florida hotel that hosted the meeting.
But the activist denied initial claims by Wells Fargo Chairman Stephen Sanger that he made a physical approach to the board.
“No I did not. I’m 5’8″ on a good day, 61 years old and 170 pounds,” Marks said. (Sanger later said he would apologize to Marks if he was mistaken in claiming Marks had approached the board.)
Source: CNN
The post The guy who stopped the Wells Fargo meeting is just getting started appeared first on Compliancex.
May 01, 2017 at 11:34PM
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