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Michigan yet to join states suspending Wells Fargo from doing business with state agencies

Wells Fargo sign.
Mike Mozart
/
Flickr - http://j.mp/1SPGCl0

Wells Fargo is losing business with state governments across the U.S.  

At this point, the growing list does not include the state of Michigan.

State treasurers in California and Illinois and the cities of Seattle and Chicago cut ties to the troubled financial industry giant since it was learned that Wells Fargo employees manipulated customer accounts to meet sales goals.

Friday, Ohio Gov. John Kasich announced he is suspending Wells Fargo from doing business with state agencies, and excluding the bank from participating in any state bond offerings.

Michigan Department of Treasury spokeswoman Danelle Gittus says “the state continues to monitor the situation, but has taken no action at this time.”