Two million wrongful transactions identified so far.

Democrats are not waiting until then to question the bank over its practices, however. Elizabeth Warren of Massachusetts, Jack Reed of Rhode Island, Robert Menendez of New Jersey and Jeff Merkley of Oregon.

Al Green, Democrat of Texas, said on Friday's call that the Wells Fargo scandal was attributable to the greed of Wall Street and the perception that House Republicans would not provide support for the regulatory agencies overseeing banks. "We need to know, did low pay and high incentives create a culture in which employees felt they needed to create fraudulent accounts?"

. And somehow this was missed for over 5 years? What else don't we know?"

John Stumpf, the CEO of Wells Fargo, is scheduled to appear before the Senate Banking Committee next week.

At the same time, Democrats are looking to gain a political advantage over Republicans, who have advanced legislation to limit the powers of the Consumer Financial Protection Bureau, the agency that assessed a $100 million fine on Wells Fargo. Tolstedt, who was responsible for the incentive scheme that prompted employees to falsify new accounts to meet goals, received a $125 Wheel Hubs million package for retiring this year."

Sen. Maxine Waters, the ranking Democrat on the House Financial Services Committee, said Friday morning that she had received a commitment from the panel's Republican chairman, Jeb Hensarling of Texas, that he would schedule a hearing as well. "5,300 hundred employees, that's larger than George Washington's army at Valley Forge.

Congressional Democrats are putting pressure on Wells Fargo to claw back the pay of highly compensated employees involved in the scandal in which millions of fake accounts were created, for which the bank was fined $185 million.

A group of Democratic senators wrote a letter to Stumpf asking if the bank would attempt to clawback the pay of any executives involved, inquiring particularly about Carrie Tolstedt, the former head of the consumer banking division.

That pressure is being created just days before the bank's CEO will testify in Congress about the scandal.

The Democrats asked if the bank would attempt to recover some of that compensation, noting that clawback rules for executive compensation are "designed to prevent exactly what happened with Ms. Magoo could have seen this," Sherman said, referring to a short-sighted midcentury cartoon character. Sherrod Brown of Ohio, the ranking Democrat on the Banking Committee, signed the letter, along with Sen.

He said that Democrats want to ask whether Wells Fargo's actions are part of a larger pattern.

Speaking on a call with reporters Friday morning, California Democrat Brad Sherman, a member of the House Financial Services Committee, said that the inability of Wells Fargo's management to prevent the creation of millions of fake accounts raised questions about the overall safety of the financial system. "Did management encourage this kind of activity?" he asked. Toldstedt: shareholders and consumers bearing the burden of bank misconduct while senior executives walk away with multi-million dollar awards based on what the company later finds out are fraudulent practices. Hensarling's office didn't respond to a request for confirmation