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HomeNewsReaction from Ripple CEO to Wells Fargo Scandal

Reaction from Ripple CEO to Wells Fargo Scandal


Ripple CEO Brad Garlinghouse highlighted the disparity between the response to the FTX scandal and the response to Wells Fargo’s record penalty.

Consumer Financial Protection Bureau As CFPB noted, Wells Fargo did not accurately document customer payments on home and auto loans during the 2011-2020 period. In addition, some borrowers’ cars or homes were actively seized for wrongful reasons, and overdraft fees were charged even when customers had more than enough money to cover their purchases. With the emergence of the situation, Wells Fargo, one of the largest banks in the USA, was fined $ 3.7 billion. The CEO of Ripple is uncomfortable with the underreaction to this situation.

Ripple CEO Criticizes Not Responding to Wells Fargo

Ripple CEO Brad Garlinghouseshared a tweet highlighting the FTX and Wells Fargo reactions.

The tweet includes a meme where DC Comics superhero Batman slaps his apprentice Robin. “But Wells Fargo is engaged in illegal activity!” in Robin’s speech bubble. At the time of writing, Batman’s response is “We only care about FTX”.

garlinghouseIn a comment with this meme, he expressed his disappointment that the record fine for Wells Fargo for mistreating its customers for years was not met with as much outrage as the FTX scandal.


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