One-time Republican presidential candidate and current governor of Ohio, John Kasich, announced Friday that he is using his power as governor to bar Wells Fargo from participating in future state debt offerings and financial services contracts initiated by state agencies for one year.
Additionally, Kasich said that he will seek to exclude Wells Fargo from participating in debt offerings initiated by the Ohio Public Facilities Commission.
Kasich’s office notes that Kasich is one of six votes on the OPFC. The remaining members are Ohio’s attorney general, auditor of state, secretary of state, treasurer of state and the director of the office of budget and management.
“It’s clear that Wells Fargo’s culture was compromised by greed and by a desire to make money that was stronger than a commitment to following proper ethical standards,” Kasich said.