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WNIJ's summary of news items around our state.

Illinois Treasurer Suspends Billions In Investments With Wells Fargo

The state of Illinois is suspending billions of dollars in investment activity with Wells Fargo.

Illinois state treasurer Michael Frerichs says the state decided it couldn’t do business with the country’s second largest bank after it admitted to opening millions of fake customer accounts.

"Their illegal actions to meet sales targets and compensation incentives is downright shameful," Frerichs said.

He says Illinois is suspending $30 billion in investments from Wells Fargo.

"It’s fair to say this is millions of dollars will cost them," Frerichs said.

It’s not the first time the state has tangled with Wells Fargo. Frerichs says Illinois sued the bank for discriminatory lending practices in 2012.

He says the current investment moratorium with the bank is for at least one year.

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