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Maryland, Howard County reviewing relationships with Wells Fargo

Maryland’s treasury office is reviewing whether the state should stop doing business with Wells Fargo in light of the bank’s scandal over its use of fraudulent sales practices.

The review comes after the state of California suspended doing business with the San Francisco-based bank for the next 12 months. The city of Philadelphia is also reviewing its relationship with the bank.

Wells Fargo is being accused of opening as many as 1.5 million deposit accounts and 565,000 credit cards without customers’ permission to meet sales goals. The bank was fined $185 million by the Consumer Financial Protection Bureau.

Read the full article from the Baltimore Business Journal.


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