UPDATE 1-Ohio extends ban on Wells Fargo business by six months

From Reuters - October 12, 2017

WASHINGTON (Reuters) - Ohio will extend its ban on doing business with Wells Fargo & Co because the bank has not done enough to help consumers or clean up its culture, the states governor said on Thursday.

This bank has not yet regained the publics confidence, Governor John Kasich said in a statement. Wells Fargo still has work to do.

Ohio cut ties with Wells Fargo last October after the bank reported that millions of phony accounts may have been created without customer approval.

At the time, Kasich said Ohio would avoid working with the bank on debt offerings or financial services for one year. In recent months, Wells Fargo has said it found other customer abuses with mortgage auto insurance products.

On Thursday, Kasich extended his ban through April.


Continue reading at Reuters »