Monday, November 20, 2017

© Reuters. FILE PHOTO: Wells Fargo branch is seen in the Chicago suburb of Evanston Illinois© Reuters. FILE PHOTO: Wells Fargo branch is seen in the Chicago suburb of Evanston Illinois

(Reuters) – California will extend sanctions against Wells Fargo & Co (N:WFC) 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.

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