Sham Account Scandal Costs Wells Fargo $30 Billion Of Investment Activity With The State Of Illinois

October 04, 2016   |   October 2016 Bond Updates
The Senate got to scold Wells Fargo; so did the House. But in the wake of the scandal that revealed the bank created millions of unauthorized accounts for its customers, more public officials are looking to get their licks in, too. The latest of these: Illinois state treasurer Michael Frerichs, who on Monday announced he is suspending $30 billion of investment activity from Wells Fargo for one year, and Chicago treasurer Kurt Summers, who said Monday that he is divesting $25 million that the city has invested with Wells Fargo.

View more at: http://www.forbes.com/sites/maggiemcgrath/2016/10/03/sham-account-scandal-costs-wells-fargo-30-billion-of-investment-activity-with-the-state-of-illinois/
 
Related News
Home| About us | Contact us http://www.bondupdatesdailynews.com/