(Corrects Stumpf’s first name in first paragraph.)
Oct. 19 (Bloomberg) -- U.S. Senator Richard Durbin is asking Wells Fargo & Co. Chief Executive Officer John Stumpf to defend the bank’s decision to impose new fees for debit-card users in light of the record quarterly profits reported Oct. 17.
Durbin, the Illinois Democrat who pushed to include caps on debit-card interchange that banks charge to retailers, made the comment in a letter to Stumpf dated today.
--Editors: Gregory Mott, Lawrence Roberts
To contact the reporter on this story: Phil Mattingly in Washington at email@example.com
To contact the editor responsible for this story: Lawrence Roberts at firstname.lastname@example.org