Welcome to the Reader‘s morning briefing for Tuesday, October 4, 2016.
City treasurer Summers to divest $25 million from Wells Fargo due to scandal
The city of Chicago will divest $25 million from Wells Fargo bank, which has “admitted to opening potentially millions of bogus client accounts,” according to Bloomberg. “The City Treasurer is proud to stand with working families from Chicago and across the nation by divesting in Wells Fargo & Co.,” the office of, yes, city treasurer Kurt Summers told Bloomberg via e-mail. “Chicago deserves better.” Illinois treasurer Michael Frerichs also plans to pull the state’s money out of the wagon because of the scandal. [Bloomberg]
