Lawmakers press Fed’s Janet Yellen to punish Wells Fargo for fake accounts scandal

WASHINGTON — Outraged lawmakers pressed Federal Reserve Chairwoman Janet L. Yellen on Wednesday to punish Wells Fargo & Co. for creating as many as 2 millions fake accounts, but she declined to commit to any regulatory penalties. “Two million phony accounts. Break them up!” Rep. Brad Sherman, D-Calif., told Yellen during a hearing of the House…