U.S. State of Illinois Suspends $30 Billion in Investments with Wells Fargo

Edited by Pavel Jacomino
2016-10-10 23:13:48

Pinterest
Telegram
Linkedin
WhatsApp

Chicago, October 10 (RHC)-- In the U.S. state of Illinois, the State Treasury has suspended investing with Wells Fargo amid a massive scandal at the major Wall Street bank involving thousands of employees who took private customer information to create two million fake accounts in order to meet sales targets.  The decision affects $30 billion in investments. 

Illinois State Treasurer Michael Frerichs called Wells Fargo "shameful."  Senator Elizabeth Warren has called for Wells Fargo CEO John Stumpf to resign and to be criminally investigated.

Related Articles

Commentaries

MAKE A COMMENT
All fields required
NOT TO BE PUBLISHED
captcha challenge
up