Chicago to Pull $25 Million From Wells Fargo After Scandal

  • Kurt Summers plans to unwind assets as soon as possible
  • Summers manages Chicago’s $7 billion investment portfolio

Wells Fargo CEO: 'We Should Have Done More Sooner'

Chicago Treasurer Kurt Summers plans to divest $25 million the city has invested with Wells Fargo & Co. after the company admitted to opening potentially millions of bogus client accounts, joining state officials who have pulled business from the bank because of the scandal.

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