Corporate Counsel-
California State Treasurer John Chiang said he has decided to extend his state’s financial sanctions against Wells Fargo & Co. into a second year, while Ohio extended its sanctions another six months.
At least four other states and three cities also suspended their governments’ business with Wells Fargo. So far only California and Ohio have extended their suspensions, according to bank spokesman Gabriel Boehmer.
Chiang imposed the ban against doing state Treasury business with Wells Fargo last October after it was revealed the bank had set up millions of fake accounts without customers’ knowledge.