WATCH: Elizabeth Warren Fillets Banking Regulator Who Claims He Was Tough on Wells Fargo

Told he felt insulted by her comments, the senator responded "Good."

Sen. Elizabeth Warren took a break from ignoring Fox News on Wednesday so that she could eat a congressional witness for breakfast.

The senator was questioning Joseph Otting, Comptroller of the Currency, about his office’s oversight of Wells Fargo’s ongoing search for a new CEO. As one of the offices tasked with regulating large banks, the OCC that Otting heads has veto power over the bank’s choice.

Warren wanted to know if Otting would disclose the OCC’s evaluation of the “competence…and integrity” of the next CEO. Otting replied that he would not, which seemed to stun Warren.

“Why not?” she asked.

“It will be confidential supervisory information,” Otting replied.

This led to a back-and-forth about why Otting might wish to “exercise his prerogative” and not reveal this information to a Senate that is trying to perform its oversight role.

The CEO search is of particular interest to Warren, who has been a bulldog in trying to hold Wells Fargo accountable after a series of scandals in which the bank has admitted to a number of abuses of unsuspecting customers.

Otting tried to defend himself, claiming that he has been tougher on Wells Fargo than anyone, a claim to which Warren scoffed. “At the OCC? That’s a low bar.”

“I find it insulting that you would make that comment,” Otting replied.

“Good,” said Warren. She then proceeded to excoriate the former banking industry executive who has now somehow been tasked with overseeing and regulating those same banks.

Watch the video above, via ABC.

Categories
Politics

Gary Legum has written about politics and culture for Independent Journal Review, Salon, The Daily Beast, Wonkette, AlterNet and McSweeney's, among others. He currently lives in his native state of Virginia.

RELATED POSTS