“Mr. Stumpf, the Wells Fargo Vision and Values statement [pdf], which you frequently cite, says, quote, ‘We believe in values lived, not phrases memorized. If you want to find out how strong a company’s ethics are, don’t listen to what its people say; watch what they do.’ So, let’s do that.”

Wells Fargo is embroiled in a multimillion-dollar banking-fraud scandal stemming from its aggressive cross-selling tactics, and CEO John Stumpf blames low-level bank employees for the trouble.