Wells Fargo's internal review only covers unauthorized accounts dating back to 2011. News reports and court documents suggest these problems might have existed long before then. The 2013 'Los Angeles Times' articles led to the L.A. city attorney's office investigation into Wells Fargo's sales practices.

In this quote, Richard Shelby is addressing the limitations of Wells Fargo's internal review regarding the unauthorized accounts scandal. Shelby points out that the review only covers issues that date back to 2011, while reports and court documents suggest that the problematic practices could have been occurring long before that. This highlights the concern that Wells Fargo may not be fully accounting for the full extent of the issues, possibly overlooking earlier misconduct or failing to address systemic problems.

Shelby references the 2013 'Los Angeles Times' articles, which played a key role in exposing Wells Fargo’s sales practices and sparking further investigation. These articles were significant in bringing the issue to light, leading to an investigation by the L.A. city attorney's office into the bank’s operations. The reference to these articles underscores the role of investigative journalism in uncovering corporate malpractices and holding institutions accountable.

The mention of the internal review and its narrow scope suggests that Wells Fargo's efforts to rectify the issue may have been limited or insufficient. By framing this in the context of news reports and official investigations, Shelby raises concerns about the company's accountability and the possibility that the true extent of the scandal was not being fully addressed by its initial review process. This calls into question the bank's transparency and its commitment to addressing the long-term impact of its actions.

Ultimately, Shelby’s quote points to the broader issue of corporate responsibility and accountability, particularly in the context of large institutions like Wells Fargo. It underscores the need for thorough and transparent investigations, not just limited reviews, to ensure that any wrongdoing is fully addressed, and the affected customers are properly compensated.