Charlotte Observer-
Wells Fargo’s board has spent more than half a million dollars on lobbyists in the past year as it’s pushed to move past a major sales scandal over fake accounts, new disclosures show.
The board has paid $600,000 to Brownstein Hyatt Farber Schreck – among the largest lobbying firms in Washington – from Oct. 1, 2016, to Sept. 30, an Observer search of lobbying activity on Opensecrets.org found. Federal reports filed by Brownstein show the firm has received $150,000 every quarter since the scandal erupted in September 2016.
The lobbying comes at a time when the board is making some changes, including plans for Chairman Stephen Sanger and two other longtime directors to retire at the end of the year. Such moves haven’t been enough, though, for some members of Congress who want the removal of more directors.
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