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Hill admonishes Wells Fargo CEO

U.S. Rep. French Hill told Wells Fargo CEO John Stumpf that he was surprised and disappointed by news of the company's 2 million fake accounts, created by employees under pressure to meet sales goals.

"I've been a customer of your company, and I've admired your company and I've used your company as an example for my own businesses in the past 20 years," Hill said Thursday.

After learning of the misconduct that cost 5,300 Wells Fargo employees their jobs, "I have the same knot in my stomach that you probably have," Hill said.

Stumpf appeared Thursday before the House Financial Services Committee; Hill is a member of the committee.

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