The CEO of beleaguered Wells Fargo is telling Congress the bank has cleaned up its act after a series of scandals that affected millions of customers.

But Democrats – and some Republicans – on the House Financial Services Committee aren’t buying it.

Wells Fargo CEO and President Tim Sloan told the committee the bank is compensating customers who had been harmed, strengthening risk management and internal controls, and improving the culture at the consumer banking giant.

Wells Fargo CEO Timothy Sloan is questioned by the House Financial Services Committee about revelations the bank had created millions of fake bank accounts to reach their financial goals, on Capitol Hill in Washington, Tuesday, March 12, 2019. (AP Photo/J. Scott Applewhite)
Wells Fargo CEO Timothy Sloan is questioned by the House Financial Services Committee about revelations the bank had created millions of fake bank accounts to reach their financial goals, on Capitol Hill in Washington, Tuesday, March 12, 2019. (AP Photo/J. Scott Applewhite)

Wells has paid billions of dollars in fines to regulators for consumer abuses in virtually every part of its business and last year had its growth capped by the Federal Reserve.

Committee Chair Maxine Waters cited the bank’s “ongoing lawlessness” and said its $1.9 trillion in assets was “too big to manage.”

House Financial Services Committee Chair Rep. Maxine Waters, D-Calif., leads a hearing with Wells Fargo CEO Timothy Sloan who was questioned about revelations the bank had created millions of fake bank accounts to reach their financial goals, on Capitol Hill in Washington, Tuesday, March 12, 2019. (AP Photo/J. Scott Applewhite)
House Financial Services Committee Chair Rep. Maxine Waters, D-Calif., leads a hearing with Wells Fargo CEO Timothy Sloan who was questioned about revelations the bank had created millions of fake bank accounts to reach their financial goals, on Capitol Hill in Washington, Tuesday, March 12, 2019. (AP Photo/J. Scott Applewhite)
Rep. Brad Sherman, D-Calif., questions Wells Fargo CEO Timothy Sloan during a House Financial Services Committee hearing about revelations the bank had created millions of fake bank accounts to reach their financial goals, on Capitol Hill in Washington, Tuesday, March 12, 2019. (AP Photo/J. Scott Applewhite)
Rep. Brad Sherman, D-Calif., questions Wells Fargo CEO Timothy Sloan during a House Financial Services Committee hearing about revelations the bank had created millions of fake bank accounts to reach their financial goals, on Capitol Hill in Washington, Tuesday, March 12, 2019. (AP Photo/J. Scott Applewhite)