San Francisco resolution includes calling on OCC to explore revoking Wells Fargo’s national banking charter

Oh oh for Wells Fargo…

The resolution directs the city to:
·Create an inventory of all financial dealings with Wells and the feasibility of ending them;
·Directs the City Attorney to investigate if other banks are engaged in similar account practices;
·Consider establishing a Responsible Banking Ordinance to better connect the city’s banking relationships to banks engaged in ethical corporate behavior;
·Calls for a criminal investigation of former CEO John Stumpf; and
·Calls on the OCC (Wells Fargo’s primary bank regulator) to explore whether conditions exist such that the OCC should revoke Wells Fargo’s national banking charter.

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One response to “San Francisco resolution includes calling on OCC to explore revoking Wells Fargo’s national banking charter

  1. Reblogged this on California Freelance Paralegal and commented:
    They should revoke the national banking charter for Wells Fargo. That would put the rest of the big banks on notice that they need to stop their outrageous behavior.

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