Elizabeth Duke, shown in Senate testimony in 2008. Photo by Joshua Roberts/Getty Images

The chair of Wells Fargo's board of directors, Elizabeth Duke, resigned under pressure Sunday, days before she was scheduled to testify on Capitol Hill about the bank's fake accounts scandal — as did a second board member, James Quigley, who was also going to be grilled by lawmakers.

Why it matters: Wells Fargo is attempting to close the chapter on the systemic frauds that were exposed in 2016, when 5,200 employees were fired over 2 million fake accounts that were created. Evidence shows the bank did not satisfactorily clean up its act in the ensuing years, leaving Democratic lawmakers furious.

Where it stands: The bank's new CEO, Charlie Scharf — a former CEO of Visa and BNY Mellon — took over late last year and is trying to clean house. He is scheduled to testify Tuesday in front of the House Financial Services Committee, and Duke and Quigley are scheduled to testify Wednesday.

  • In a damning report released last week, the majority staff of the committee presented extensive evidence that problems lingered and senior executives seemed unconcerned.
  • The report included emails from Duke in which she seemed to try to deflect queries about the situation, plus "a similar lack of urgency" from Quigley.
  • The report called Wells Fargo "a reckless megabank with an ineffective board and management that has exhibited an egregious pattern of consumer abuses.”
  • Wells Fargo would not comment on whether the two directors who resigned will still testify Wednesday.

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Glass half full explanation: Most qualifying small businesses that wanted a PPP loan already got one, and the economy is now reopening and recovering.

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California utility PG&E admitted to criminal negligence on Tuesday, pleading guilty to 84 felony counts of involuntary manslaughter for its role in starting the 2018 Camp Fire.

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Tulsa World editorial: "Wrong time" and "wrong place" for Trump rally

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The editorial board for the Tulsa World, the city's daily newspaper, criticized on Monday President Trump's upcoming rally there, saying "we don’t know why he chose Tulsa, but we can’t see any way that his visit will be good for the city."

Why it matters: It argued that Tulsa is still recovering from the effects of the coronavirus pandemic —  and noted that a large, indoor gathering could spark an outbreak, leaving the local health care system to deal with the repercussions.