UPDATE: California State Treasurer Sanctions Wells Fargo (WFC) - Bloomberg

September 28, 2016 2:40 PM EDT

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(Updated - September 28, 2016 2:44 PM EDT)

California State Treasurer John Chiang said in a letter to Wells Fargo (NYSE: WFC) that he ordered suspension of its participation in "its most highly profitable business relationships" with California, according to Bloomberg.

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