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Clinton promises to hold Wells Fargo accountable

Monday, October 03, 2016 - 02:02

Democratic U.S. presidential candidate Clinton vowed to hold Wells Fargo accountable for ''egregious corporate behavior.'' Rough Cut (no reporter narration).

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ROUGH CUT (NO REPORTER NARRATION) STORY: Democratic U.S. presidential candidate Hillary Clinton on Monday vowed to hold Wells Fargo accountable for "egregious corporate behavior" in a scandal over employees' opening millions of accounts without customers' knowledge. "Really shocking isn't it? One of the nations' biggest banks bullying thousands of employees into committing fraud against unsuspecting customers," Clinton told a crowd in Ohio, a crucial battleground in the Nov. 8 presidential election against Republican Donald Trump. In Toledo, an area that has lost manufacturing job, Clinton said she wanted to "send a clear message to every boardroom and executive suite" that they companies will be held accountable if they "scam" customers, "exploit" employees and "rip off" tax payers. Ahead of Clinton's speech, her campaign released a plan to help consumers to sue corporations in court instead of being forced to take disputes to private arbitration. Mandatory arbitration clauses make class action suits difficult or impossible to bring. Wells Fargo reached a $190 million settlement with federal regulators last month. Its customers have been unable to sue because their contracts said they would arbitrate disputes instead of suing Wells Fargo in court. Wells Fargo Chief Executive Officer John Stumpf recently said he did not expect the bank to waive the clauses. Democratic lawmakers in Congress, including Senator Elizabeth Warren of Massachusetts, have called on Wells Fargo to allow customers to sue. The U.S. presidential race tightened in a number of traditional battleground states, though Clinton remained the favorite to win the White House, according to the latest Reuters/Ipsos States of the Nation project poll released on Monday. The project, which uses a national online opinion poll of more than 15,000 people, showed that, as of Thursday, Clinton and Republican rival Trump were running nearly even in support in Florida and Ohio: states where she had held an advantage. Arizona, where Trump had held an advantage, was also considered a toss-up. Meanwhile, Maine, Oregon and Pennsylvania were considered states that Clinton would likely win. They had previously been considered toss-ups. Overall, the project showed that Clinton continued to hold the advantage over Trump in the Electoral College, the body that ultimately picks the president. If the U.S. presidential election were held today, Clinton would lead Trump 246 to 180 in the Electoral College, and had an 88 percent chance of gaining the 270 electoral votes needed to become the U.S. chief executive. A separate Reuters/Ipsos online poll showed that a majority of Americans felt that Clinton won last week's presidential debate. Over the past several weeks, the Democrat had maintained a lead of 4 to 5 percentage points in support over Trump among likely voters.

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Clinton promises to hold Wells Fargo accountable

Monday, October 03, 2016 - 02:02