Massachusetts Is the Latest State to Bar Wells Fargo From Bond Underwriting

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Massachusetts Is the Latest State to Bar Wells Fargo From Bond Underwriting

Massachusetts Is the Latest State to Bar Wells Fargo From Bond Underwriting

Fortune-

The state of Massachusetts will stop using Wells Fargo as a bond underwriter for a year, joining a growing list of state and local governments to suspend business with the bank after revelations it opened millions of unauthorized accounts.

Massachusetts Treasurer Deborah Goldberg instructed her staff late on Monday to immediately remove Wells Fargo WFC 0.56% from the state’s approved list of underwriters for a term of one year, her spokeswoman said on Tuesday.

Compared with other states, Massachusetts’ exposure to the bank is “extremely limited,” but Goldberg “isn’t convinced that Wells Fargo has grasped the level of seriousness of their actions nor have they addressed systemic failures within their organization,” spokeswoman Chandra Allard said in an email.

[FORTUNE]

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2 Responses to “Massachusetts Is the Latest State to Bar Wells Fargo From Bond Underwriting”

  1. Norman says:

    WELLS FARGO IS DONE BY THE STATE OF CALIFORIA ,STATE OF OHIO AND NOW MASSACHUSETTS MORE STATES TO COME, AND NEW JERSEY MIGHT ALSO WAKE UP ONE DAY

  2. Amy says:

    WELLS FARGO ARE CROOKS AND MAFIA AND MUST BE BOYCUT BY ALL PEOPLE

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