Capitol Report: Warren, senators press auditor KPMG to explain how it missed Wells Fargo’s illegal activity

U.S. Senator Elizabeth Warren, the Democrat from Massachusetts, is pressing Wells Fargo’s independent external auditor KPMG to reveal why it failed to identify massive unauthorized account-opening fraud at the bank.

Warren and three other senators have asked the global firm in a letter sent Thursday to explain what it knew, and when, around the fraud that resulted in a $185 million fine for Wells Fargo from the Consumer Financial Protection Bureau, the Office of the Comptroller of the Currency and the Los Angeles City Attorney.

Read:Senators to put Wells Fargo CEO Stumpf on the spot

KPMG should know Wells Fargo & Co.

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