“It’s clear that Wells Fargo’s culture was compromised by greed and by a desire to make money that was stronger than a commitment to following proper ethical standards,” Kasich said. “While Wells Fargo only does limited retail banking in Ohio, it does regularly seek state bond business so I have instructed my administration to seek services from other banks instead, and I’ll cast my votes against Wells Fargo on the Public Facilities Commission.”
Kasich said the company lost the right to do business with the state because its actions have cost it the public’s confidence.
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“We need to send a message to this company—and every other company—that the public must be respected, that ethical standards must be respected and when they’re not it comes with a cost,” Kasich said.
Kasich said he may re-access the decision if the company makes progress in restoring a “culture of integrity.”