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Ohio joins states to bar Wells Fargo from state business

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Staff Writer |
Wells Fargo
Banking   Governor John Kasich announced:

Ohio joined a growing list of municipalities to suspend business relationships with Wells Fargo & Co over a scandal involving as many as two million bogus accounts.

Governor John Kasich announced that for one year he is barring Wells Fargo "participating in future state debt offerings and financial services contracts initiated by state agencies under his authority," and will seek to exclude the California-based bank from participating in debt offerings initiated by the Ohio Public Facilities Commission.

"While Wells Fargo only does limited retail banking in Ohio, it does regularly seek state bond business so I have instructed my Administration to seek services from other banks instead, and I'll cast my votes against Wells Fargo on the Public Facilities Commission," Kasich said in a statement.

"This company has lost the right to do business with the State of Ohio because its actions have cost it the public's confidence," he added.

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