California State Treasurer John Chiang said his office was suspending some transactions with Wells Fargo following its recent enforcement action over fraudulent activities involving 2 million customer accounts.
The treasurer also said he would use his position on the board of the nation’s two largest pension funds to agitate for changes at Wells Fargo, including executive clawbacks for those involved with recent fraudulent actions, and the separate of the CEO and chairman of the board positions.
Read on for more details.