Massachusetts Is the Latest State to Bar Wells Fargo From Bond Underwriting

The commonwealth will suspend bond business with the bank for a year.

The state of Massachusetts will stop using Wells Fargoas a bond underwriter for a year, joining a growing list of state and local governments to suspend business with the bank after revelations it opened millions of unauthorized accounts.

Massachusetts Treasurer Deborah Goldberg instructed her staff late on Monday to immediately remove Wells Fargo WFC 0.44% from the state’s approved list of underwriters for a term of one year, her spokeswoman said on Tuesday.

Read on.

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