Statement from CA Treasurer on Illinois Treasurer Announcing Sanctions Against Wells Fargo

SACRAMENTO – ‘California stands united with Illinois State Treasurer Michael Frerichs’ decision to suspend investment activity with Wells Fargo Bank.

‘From the savings and loan scandal of the 1980s to the subprime lending abuses which recently brought down the world economy, we have suffered the incredible power banks hold over every day Americans. Wells Fargo is just the most recent example of the craven abuses that can be perpetrated when a financial institution comes to serve itself rather than its customers.

‘But banks are not so powerful as to be untouchable. Until Congress and bank regulators pass sensible reforms to curtail the further fleecing of consumers, bank customers – like the states of California and Illinois – will have to fill the leadership void. And, the best way to do so is to hit Wells Fargo where it hurts – in the pocketbook.

Read on.

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3 responses to “Statement from CA Treasurer on Illinois Treasurer Announcing Sanctions Against Wells Fargo

  1. Hey Kamala Harris, is it time to look into those California 18 cases now? The ones that Leslie Westmoreland and team were suppose to FULLY investigate, that handed over evidence of fraud enough to shut down the foreclosures in the entire country? Let’s see homes returned and the damages paid as required through the FDCPA and Contract fraud due to the identity theft, pillfering of the estates and grand larceny stealing the homes. Attorneys pretending to be secured parties on void contracts all need to be held accountable. Reverse all the foreclosures and heal our country.

  2. Pingback: Today’s news … Saturday, October 15, 2016 | Columbia news, views & reviews

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