Protesters Rally Outside of Wells Fargo Stakeholders Meeting

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DES MOINES, Iowa  --  Protesters came from far and wide to share their stories outside of Wells Fargo's annual stakeholders meeting at the Marriott downtown on Tuesday.

"They need to know who they are affecting. They're sitting up there in their ivory towers and they're fine and dandy, but the people are struggling. People are hurt by the practices of this corporation and they need to know that and they need to know that in a very loud and decisive way," Michigan activist Debbi Adams said.

Many protesters said Wells Fargo is funding the Dakota Access Pipeline and the NRA, and they want the business to change.

"We actually want the CEO to resign. He has presided over the board and the company through several scandals, exploiting consumers with the creation of fake bank accounts. We want him to resign. We want the entire board to resign and Wells Fargo to start over, and we need them to stop financing things that are bad for the community," Iowa CCI member Lori Young said.

During the meeting, all of the directors were re-elected and say rebuilding trust is their top priority.

Wells Fargo said in a statement, "As part of our transformation, over the past year, we have made fundamental changes to build a better, stronger company."

The California State Treasurer, John Chiang, said it's not enough and not very clear.

"I would have certainly appreciated owning up to responsibilities and putting us on a clear pathway of what needs to be done. I think too many voices of those who were injured and harmed were still not heard and so there's much work that needs to be done," Chiang said.

A statement issued by Wells Fargo read, "We have acknowledged that we have made mistakes. While there’s more work to do, we are making strong progress in our work to rebuild trust with our stakeholders."

Chiang said the leadership is “tone deaf.”

"I didn't hear a sincere apology for all the trauma and the devastation that they created to American families. They were singing the praises of what they've done. But you just look a few days ago where Office of the Comptroller of Currency and CFPB imposed a $1 billion penalty. There was a real disconnect between what was reflected in the regulators and the punishments that were meted out and what we heard today in Des Moines, Iowa," Chiang said.

Wells Fargo said in a statement, “We welcome open and collaborative dialogue with our stakeholders.”

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