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California’s Santa Cruz County Board of Supervisors voted to stop doing business for five years with five banks that recently pleaded guilty to felony conspiracy charges, and Third District Supervisor Ryan Coonerty (pictured at left) encouraged other local governments to do the same.

In a June 2 letter to the board, Coonerty recommended that it change the county’s investment policy to ban Citigroup, JPMorgan Chase, Barclays, Royal Bank of Scotland and UBS from doing new business with the county for five years. Coonerty said the board voted unanimously to approve his proposal.

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Tina Orem

 

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