October 16, 2017 / 4:46 PM / in a year

California extends sanctions against Wells Fargo for at least another year

Oct 16 (Reuters) - California will extend sanctions against Wells Fargo & Co for at least another year, Treasurer John Chiang said at a press conference Monday.

Chiang cited progress by the bank in certain areas, but expressed concern over an “alarming drumbeat of news reports of egregious or illegal actions over the past year” in extending the sanctions, which impact the bank’s municipal bond underwriting unit among other businesses. (Reporting by Dan Freed in New York)

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