Wells Fargo Is Cleared to Underwrite Texas Muni-Bond Deals by AG
A Wells Fargo & Co. branch in Dallas, Texas.
Photographer: Cooper Neill/BloombergThis article is for subscribers only.
The Texas Attorney General’s Office ruled that Wells Fargo & Co. can continue underwriting municipal-bond transactions in the state after probing the bank’s policies on the firearms industry.
It’s a win for Wells Fargo’s public finance department, allowing it to maintain its presence in the top market for municipal-bond deals this year. The San Francisco-based bank is the sixth-biggest underwriter in the US muni market overall.