The prosecution of Wells Fargo executives who oversaw the bank’s activities is seen by lawmakers and investors as one of the final pieces of the scandal’s fallout for the bank.
President Trump will meet with the CEOs of Wall Street's biggest banks at the White House on Wednesday afternoon.
House Financial Services Chairwoman Maxine Waters referred former Wells Fargo CEO Timothy Sloan to the Department of Justice, claiming that Sloan made false statements to Congress in testimony last year.
The San Francisco-based bank employes about 259,000 people.
Scharf took over as CEO of the beleaguered bank in October.
Duke was among the bank's leadership expected to testify before the House Financial Services Committee.
The report is part of a year-long probe and comes ahead of hearings next week
Wells Fargo & Co. became the third major U.S. bank to announce it will not support financing for oil and gas projects in the Arctic.
Wells Fargo & Co. agreed to pay $35 million to settle regulatory claims that its financial advisers recommended exchange-traded funds that were too risky for some clients.
The DOJ slapped the bank over its fake account scandal.
Wells Fargo could settle a number of cases with the federal government related to abusing its customers by opening fake accounts in their name and other practices.
The policy had generally applied to employees hired since the end of 2015.
Regulators and Wells Fargo ’s board have said the company’s decentralized structure was among the chief causes of the fake accounts scandal.
Former CEO John Stumpf was also hit with a $17.5 million civil penalty.
The Office of the Comptroller of the Currency (OCC) actions may result in monetary penalties against the executives and bans from working for OCC-regulated banks, the person said.
The Massachusetts senator requested that bank executives respond to questions by Feb. 7.
Wells Fargo earned $2.9 billion, or a diluted 60 cents a share, as revenue slipped 5.2 percent year-over-year to $19.98 billion.
Banks held onto their railcar units after the 2008 financial crisis.
A U.S. congressional committee will ask Wells Fargo & Co’s board of directors to testify about the bank’s sales scandal next year, a senior Democrat told Reuters on Thursday.
The bank has been under scrutiny since employees opened millions of fake accounts.