Wells Fargo Scandal: Wells Fargo Suspended From Doing Business In Ohio State


Prince Vega – Ohio has become the third state to suspend Wells Fargo from doing business in their state. Ohio Governor John Kasich took action against the big bank after the San Francisco-based bank revealed that employees had opened up unauthorized customer accounts to reach sales targets, the fallout resulted in Wells Fargo losing the ability to work with state bonds, according to RT. Wells Fargo reportedly participated in around $830 million of Ohio’s state bond offerings, according to Associated Press. Before being fined $185 million by regulators for its illegal practices, the former CEO and chairman reportedly sold $61 million worth of Wells Fargo stock. If Wells Fargo does not rekindle the image of the bank and restore the trust of the public Well Fargo could suffer an even greater impact worst than this one.

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