Wells Fargo CEO John Stumpf: Being Dishonest, Breaking Law Are 'Very Different' | CNBC — Transcript

Full transcript

1. 0:00I think that when you do something
2. 0:02unethical or dishonest which I've tried
3. 0:06to exercise my duties as as leader and
4. 0:09our senior leadership you haven't done a
5. 0:10real good job you've had 16 violations
6. 0:12in five years that's a good job this is
7. 0:15a minor fine you've had a lot of this is
8. 0:17only the seventh largest fine you've had
9. 0:19you've had six others that a lot bigger
10. 0:22that's a good job I guess I forgot
11. 0:24you're the one judging yourself because
12. 0:26you're also the chairman of the board I
13. 0:28actually think I'm the greatest Congress
14. 0:30in the history of the world I should be
15. 0:31speaker president and maybe emperor of
16. 0:33the world that's my judgment of myself
17. 0:36sound good to you there's no question
18. 0:38that we've done things that we need to
19. 0:40improve on and we've paid fines and and
20. 0:43we're trying to get better on every one
21. 0:44of our businesses Mr homes pays a little
22. 0:47fine you know few bucks based on the
23. 0:49amount of money he stole and the victims
24. 0:52he had you think he should be let out
25. 0:54and have no criminal record again being
26. 0:57dishonest and and breaking the law is
27. 0:59something very oh so it's not breaking
28. 1:01the law stealing my identity and opening
29. 1:03an account that I didn't ask for and our
30. 1:05culture is about not doing that we train
31. 1:07for that not to happen I don't know what
32. 1:09kind of a culture have 16 violations
33. 1:115300 employees that you say did it time
34. 1:14of the gentleman has
35. 1:15expired hey CNBC fans thanks for
36. 1:18checking out our YouTube channel here
37. 1:19you're going to find videos packed with
38. 1:21all of the information that you need to
39. 1:23be smarter about your finances you can
40. 1:25subscribe by clicking right here and
41. 1:27click on all the videos around me or the
42. 1:29ey right here to watch the latest from
43. 1:31CNBC thanks for watching