WASHINGTON—One U.S. senator is asserting that Wells Fargo’s unethical business practices extended beyond consumers, harming small businesses as well.
David Vitter (R-LA), who chairs the U.S. Senate’s Small Business Committee, made that allegation in a letter dated Sept. 29 to Wells Fargo CEO John Stumpf, Reuters reported.
Vitter asserted that thousands of small business owners were also impacted by Wells Fargo’s practices, and he demanded a “full accounting” of small business owners affected by “fraudulent activity,” reported Reuters, which noted that around 10,000 small business accounts were affected by improper Wells practices according to “people familiar with the matter.”
Vitter launched a probe on Sept. 20 into Wells Fargo’s business practices that harmed consumers to determine if any small businesses were impacted.
Wells Fargo spokeswoman Jennifer Langan told Reuters that Wells is reviewing earlier request letters sent by Vitter and will address them “in a timely manner.”