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

Eldonita de Pavel Jacomino
2016-10-10 23:13:48

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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.

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