mr. neugebauer: did you ever disclose this issue on a 10k filing? mr. stumpf: all of our k or q andngs are facts circumstances, what we knew at the time. as recently as our second quarter q this year, when we use our disclosure teams and compliance teams to look at this issue, the facts and circumstances, we believe were not material. mr. neugebauer: i am not for congress setting the corporate structure, but i do think there is some question here whether in this situation the company would be better served with those roles being separated. mr. hensarling: the gentleman's time has expired. the chair now recognizes the gentleman from new york. mr. stumpf, we now know that whistleblowers first contacted the consumer financial control board about the product wells fargo in mid-2013. you said in your senate hearings last week that you first found out about the fake accounts in late 2013. scandalrticle about the , published in december, 2013. filing,our form for which i would like to submit to the record. on october 30, 2013, you sold $13 million worth of wel

mr. neugebauer: did you ever disclose this issue on a 10-k iling? mr. stumpf: our 10-k -- all of our k or q filings are facts and circumstances what we knew at the time. as recently as our second quarter q this year, when we use our disclosure teams and compliance teams to look at this issue, the facts and circumstances, we believe, were not material. mr. neugebauer: i'm not for congress setting the corporate structure, but do i think in - there is some question in this particular situation whether the company would have been better served with those roles being separated. yield back. chairman hensarling: the time of the gentleman has expired. the chair now recognizes the gentlelady from new york, mrs. maloney, ranking member of our capital markets subcommittee. mrs. maloney: mr. stumpf, we know now that whistleblowers irst contacted the consumer financial control board about the fraud at wells fargo in mid 2013. and you said in your senate hearings last week that you first found out about the fake accounts in late 2013. and the "l.a. times" article bou

mr. neugebauer: did you ever disclose this issue on a 10-k filing? mr. stumpf: our 10-k -- all of our k or q filings are facts and circumstances what we knew at the time. as recently as our second quarter q this year, when we use our disclosure teams and compliance teams to look at this issue, the facts and circumstances, we believe, were not material. mr. neugebauer: i'm not for congress sit sething the corporate structure, but i do -- setting the corporate structure, but do i think in this particular situation whether the company would have been better served with those roles being separated. i yield back. chairman hensarling: choir. the chair now recognizes the gentlelady from new york, miss maloney, ranking member of our capital markets subcommittee. mrs. maloney: mr. stumpf, we know now that whistle blowers first contacted the consumer financial control board about the fraud at wells fargo in mid 2013. and you said in your senate hearings last week that you first found out about the fake accounts in late 2013. and the "l.a. times" article about the

mr. neugebauer: did you ever disclose this issue on a 10-k filing? mr. stumpf: our 10-k -- all of our k or q filings are facts and circumstances what we knew at the time. as recently as our second quarter q this year, when we use our disclosure teams and compliance teams to look at this issue, the facts and circumstances, we believe, were not material. mr. neugebauer: i'm not for congress sit sething the corporate structure, but i do -- setting the corporate structure, but do i think in this particular situation whether the company would have been better served with those roles being separated. i yield back. chairman hensarling: choir. the chair now recognizes the gentlelady from new york, miss maloney, ranking member of our capital markets subcommittee. mrs. maloney: mr. stumpf, we know now that whistle blowers first contacted the consumer financial control board about the fraud at wells fargo in mid 2013. and you said in your senate hearings last week that you first found out about the fake accounts in late 2013. and the "l.a. times" article about the

mr. neugebauer's question, in regard to the board. you said you think about it a lot. when did you make the board aware of the issues? mr. stumpf: the board was made aware generally of issues in committees at high levels, the 2011-2012 time frame, by 2013 we had talked about maybe, i can't remember which committee it was, surely by 2014. and then when we finally connected the dots on customer harm in 2015, the board was very active on this. mr. tipton: you discovered it in 2013. you were aware -- you were engaged. we are now in 2016. now you're rapidly starting to respond. there seems to be a little bit of a disconnect in terms of the response mechanism that you're having there. mr. hill had just brought up, and you gave a response saying you had a sense of urgency. who have you fired? mr. stumpf: we fired managers, managers, another manager. we're doing a full review of anybody who was responsible for any behavior of any kind that would not put customers first. mr. tipton: are you try be to be able to say that these were lone wolves acing independently, or were they fo

mr. neugebauer, there has been a bank of japan to start purchasing equities. my question to you is fairly simple is the united states federal reserve looking to the possibility of adding purchase of equity sos its tool box as it looks at monetary policy? >> the federal reserve is not permitted to purchase equities. we can only purchase u.s. treasurys and agency securities. i did mention in the speech in jackson hole though where i discussed longer term issues and difficulties we could have in providing adequate monetary policy, accommodation may be somewhere in the future down the line that this is the kind of thing that congress might consider. this is not something the federal reserve is asking for. >> would take a change in law to do that? >> it would take a change in the law. >> let's move on to thet regulatory question. i appreciate that thank you for straightening that you out. earlier mr. neugebauer and leutkemeyer talked abouted changing rules of commodities trading. my question is very simple, why are you doing this? >> we're worried about the forms o

mr. neugebauer: i'm especially proud of the way these young men carried themselves in victory and defeat. under the guidance of the coach and his staff, next year's team should be positioned -- well positioned to carry tech's recent baseball success. raider nation, i thank you for the way you've represented the university. . the speaker pro tempore: the gentleman yeelt i yield tos back. for what purpose does the gentlewoman from illinois seek recognition? the gentlelady is recognized for one minute. >> thank you, mr. speaker. today after more than a decade of war, a new generation of veterans is facing real challenges. mrs. bustos: no more is sacrificing so much to our country than to return home and feeling there's nowhere to turn, far too often that's the reality in which our veterans live. in fact, every single day, 20 veterans commit suicide. during the last decade, nearly a third of veterans treated at v.a. medical centers have been diagnosed with ptsd. we have to do better. that's why i was proud to be a co-sponsor of the clay hunt suicide prevention act last year to increase resour