Treasurer John Chiang Sends Queries to Newly Appointed Wells Fargo CEO Tim Sloan
State Treasurer John Chiang sent a letter with a list of questions to newly appointed Wells Fargo Bank Chief Executive Tim Sloan. The queries were prompted by last week’s announced departure of Sloan’s predecessor, John Stumpf. Read this news release.
Intersections: California Must Invest in Watersheds, Just Like Dams
To support our prosperity and growth, California needs to expand its investments in our physical and natural infrastructure. Read this month's edition of Intersections.
Treasurer John Chiang’s Statement on Wells Fargo CEO John Stumpf’s Resignation
"Today’s announcement that Mr. Stumpf is stepping down is welcome news. Based on his duck, dodge, and deny performance in the wake of admissions his bank had fleeced legions of its own customers, he was not – and would never be – the change agent leader Wells Fargo so desperately needs." Read this news release.
California is Borrowing More Cheaply
California has enhanced its ability to borrow money cheaply and nudged its credit rating into the coveted “high-grade” category amid a period of rising investor clamor for its bonds, according to the new Debt Affordability Report (DAR) issued by State Treasurer John Chiang. Read this news release.
Statement from Treasurer John Chiang on Illinois Treasurer Announcing Sanctions Against Wells Fargo
California stands united with Illinois State Treasurer Michael Frerichs’ decision to suspend investment activity with Wells Fargo Bank,” said Treasurer John Chiang. Read this news release.
California Treasurer John Chiang's Statement on Wells Fargo CEO John Stumpf’s House Committee Testimony
Mr. John Stumpf must go. Following-up on last week's duck, dodge, and deny performance with another listless one has convinced me that Mr. Stumpf is not -- and will never be -- the change agent leader Wells Fargo so desperately needs. Read this news release.
Governor Approves Secure Choice Retirement Plan
Millions of Californians soon will have an easy way to save for a more comfortable and dignified retirement now that Gov. Jerry Brown has signed Senate Bill 1234, landmark legislation creating the California Secure Choice Retirement Plan. Read this news release.
Treasurer John Chiang Sanctions Wells Fargo Bank For Defrauding California Customers
Wells Fargo’s admission that thousands of bank employees opened over two million fraudulent consumer accounts is a legal and ethical outrage that cannot go unpunished, Treasurer Chiang said. Read more in this release. Read this news release.
Governor Signs Bill Requiring Wall Street Disclosure
Gov. Jerry Brown signed AB 2833, sponsored by State Treasurer John Chiang, imposing the nation’s most robust transparency requirements on fees paid by public pension funds to private equity investment firms. Read this news release.
Treasurer’s Program Helps Spur Growth of California’s Aerospace Industry
The State Treasurer's Sales Tax Exclusion program, administered by the California Alternative Energy and Advanced Transportation Authority, is providing financial incentives to help spur the growth of the aerospace industry in California.
Governor Signs Treasurer’s Bond Accountability Bill
Legislation sponsored by State Treasurer John Chiang to give taxpayers greater access to information about state and local borrowing and how proceeds are spent was signed into law by Gov. Jerry Brown. Read this news release.