Treasurer Chiang Convenes Cannabis Banking Working Group
State Treasurer John Chiang announced today the creation of the Cannabis Banking Working Group to address a significant issue that could hamper the implementation of Proposition 64, a ballot measure approved by voters that legalizes the recreational use of cannabis. Read this news release.
Treasurer Appoints Dr. Jonathan V. Hall to Council of Economic Advisors
California State Treasurer John Chiang today announced the appointment of economist Jonathan V. Hall to his Council of Economic Advisors. Read this news release.
Intersections: Treasurer John Chiang Sanctions Wells Fargo, Others Follow
California State Treasurer John Chiang is leading a growing movement of state and local governments outraged over fraudulent marketing practices of Wells Fargo Bank. He and his new allies are backing up that anger with tough economic sanctions. Read this month's edition of Intersections.
Treasurer Launches First-in-Nation College Savings Gift Cards At Toys "R" Us, Babies "R" Us Stores
Treasurer John Chiang announced today that his office has become the first in the nation to offer gift cards – a popular stocking stuffer used by nearly 93 percent of American consumers – as a way of helping Californians give the gift of college. Read this news release.
State Investment Fund Poised To Handle Volatility
One of the golden truths associated with the capital markets is that investors hate the unexpected. Predictably, the fixed income markets reacted to election results by exhibiting a great deal of volatility Read this news release.
Treasurer Appoints Steve Juarez Deputy for Economic Development and Higher Education Policy
State Treasurer John Chiang today announced the appointment of Steve Juarez as a deputy treasurer in charge of economic development programs and higher education policy. Read this news release.
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.
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.
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.