Wells Fargo CEO apologizes for comments about diversity

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FILE – In this March 10, 2020 file photo, Wells Fargo CEO and President Charles Scharf is seated before he testifies during a hearing of the House Financial Services Committee, on Capitol Hill, in Washington. Scharf apologized Wednesday, Sept. 23 for comments he made that dismissed concerns that the banking industry, which has a long history of racist behavior, wasn’t doing enough to promote and retain diverse talent. (AP Photo/Alex Brandon, File)

NEW YORK (AP) — Wells Fargo CEO Charles Scharf is apologizing for comments he made about the difficulty of finding qualified Black executives.

Scharf said in a memo released this week that “there is a very limited pool of black talent to recruit from” in the corporate America.

The comments and similar statements made in a Zoom meeting, reported by Reuters, led to an intense backlash in Washington and on social media.

Scharf on Wednesday said in a prepared statement that his comments reflect “my own unconscious bias.”

“There is no question Wells Fargo has to make meaningful progress to increase diverse representation,” he wrote.

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