Ohio to suspend doing business with Wells Fargo

Kasich said while Wells Fargo may not do retail banking in Ohio, it does seek state bond business

FILE - In this May 6, 2012, file photo, a Wells Fargo sign is displayed at a branch in New York. Wells Fargo is in the spotlight after its employees allegedly created up to 2 million bank and credit card accounts, transferred customers' money without telling them and even created fake email addresses to sign people up for online banking in an effort to meet lofty sales goals. When Wells Fargo CEO John Stumpf testifies before a Senate committee hearing Tuesday, Sept. 20, 2016, it won't be just his bank under fire for turning friendly branches into high-pressure sales centers. It'll be the entire industry. (AP Photo/CX Matiash, File)
FILE - In this May 6, 2012, file photo, a Wells Fargo sign is displayed at a branch in New York. Wells Fargo is in the spotlight after its employees allegedly created up to 2 million bank and credit card accounts, transferred customers' money without telling them and even created fake email addresses to sign people up for online banking in an effort to meet lofty sales goals. When Wells Fargo CEO John Stumpf testifies before a Senate committee hearing Tuesday, Sept. 20, 2016, it won't be just his bank under fire for turning friendly branches into high-pressure sales centers. It'll be the entire industry. (AP Photo/CX Matiash, File)

NEW YORK (AP) — Ohio Gov. John Kasich says he is suspending Wells Fargo from doing business with state agencies, and excluding the bank from participating in any state bond offerings.

The Republican governor’s announcement Friday follows similar moves by state treasurers in California and Illinois and the cities of Seattle and Chicago. The bank has been under fire for manipulating customer accounts to meet sales goals.

Kasich said while Wells Fargo may not do retail banking in Ohio, it does seek state bond business. He says it’s lost the right to do business with the state because it’s lost the public’s confidence.

 The ban applies to financial services contracts that state agencies may have with Wells Fargo and any future state bond offerings. Kasich’s ban is effective for at least a year.

(Copyright 2016 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

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