State Treasurer John Chiang

SACRAMENTO, CA December 27, 2018 – At a public hearing at the California State Capitol this afternoon, the Cannabis Banking Working Group (CBWG), chaired by California State Treasurer John Chiang, was presented with the results of an independent study that found that establishment of a public cannabis bank would pose too great of a legal […]

SACRAMENTO, May 25, 2018 – In response to threats by the Trump Administration to adopt a proposed rule change that would cut funding to community health care clinics, Treasurer John Chiang is reminding California health clinics that emergency “Lifeline” grants are available to help impacted clinics keep their doors open a little while longer with […]

SACRAMENTO, May 11, 2018 – California State Treasurer John Chiang released the following statement today: “Today’s press releases will be a cacophony of calls for more fiscal restraint versus more human investment. Like dueling pianos, you’ll hear fears of prolific spending in the face of a looming recession versus fears of a decaying California Dream […]

SACRAMENTO, May 9, 2018 – California State Treasurer John Chiang today applauded the California State Teachers’ Retirement System for becoming the first state pension fund in the nation to adopt a policy that seeks to end pension investments in companies profiting from the proliferation of banned military-style assault weapons. “At a pivotal moment in the […]

SACRAMENTO, March 19, 2018 – State Treasurer John Chiang today urged the nation’s largest institutional investors – including CalPERS and CalSTRS — to divest holdings from wholesale or retail sellers of military-style assault weapons, ammunition and other devices such as “bump stocks” that are banned in California. “If Congress and statehouses are unwilling or unable to […]

SACRAMENTO, Feb. 23, 2018 – State Treasurer John Chiang today announced that the Secure Choice Retirement Savings Program, which will provide retirement security to nearly 6.8 million private sector workers, has a new name: CalSavers. “The name CalSavers truly reflects what this program is all about — providing an opportunity for millions of Californians to easily […]

SACRAMENTO December 7, 2017 – California State Treasurer John Chiang and ScholarShare 529, one of the nation’s top performing college savings plans, today announced the launch of a new program to help low- and moderate-income California families jumpstart saving for college. The Matching Grant Program will help families open a college savings account and counter […]

SACRAMENTO, Aug. 24, 2017 –  State Treasurer John Chiang, affordable housing advocates and Californians who have benefited from affordable housing programs urged the Legislature on Thursday to quickly pass and send the Governor a package of bills that includes ongoing funding to build affordable homes (SB 2), a $3 billion affordable housing bond (SB 3) […]

SACRAMENTO, May 18, 2017 – State Treasurer John Chiang and Senate President pro Tempore Kevin de León (D-Los Angeles) said today that California’s Secure Choice program remains on track to provide retirement security to nearly 6.8 million private-sector workers who do not have access to a retirement savings plan from their employer. Earlier this month, […]

SACRAMENTO February 8, 2017 – “For the past four years, California has been striving to provide a comfortable and dignified retirement to 6.8 million private-sector workers. That effort is now under siege. Today, two Republican members of the House of Representatives in Washington introduced a resolution that would strike down a recent Department of Labor […]

SACRAMENTO, Feb. 1, 2017 – State Treasurer John Chiang and influential Asian Pacific Islander Americans elected to local, state and federal offices today asked President Donald Trump to rescind his “unconstitutional executive order shutting our nation’s borders to travelers from seven predominantly Muslim countries based solely on their race and religious beliefs.” The letter, included below, […]

SACRAMENTO, Jan. 23, 2017 – State Treasurer John Chiang today issued a stinging rebuke to Trump administration climate deniers and reaffirmed California’s support for the goals of the Paris Climate Agreement. At the same time, he previewed portions of a major environmental speech in which he makes the case that as the federal government rolls the […]

SACRAMENTO December 20, 2016 – Simple questions about how to maintain bank accounts and make deposits became entangled with prison anxieties and fears of robbery Monday during the first in a series of meetings of the Cannabis Banking Working Group convened by California State Treasurer John Chiang. About 100 people attended the meeting in the […]

SACRAMENTO November 10, 2016 – 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. There are similarities to the market reaction to the Brexit vote in the United Kingdom—a lot of anxiety […]

SACRAMENTO – “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 that 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. “Wells […]

SACRAMENTO, Calif. September 28, 2016 – Wells Fargo’s admission that thousands of its bank employees opened over two million fraudulent consumer accounts is a legal and ethical outrage that cannot go unpunished, State Treasurer John Chiang said today. “Wells Fargo’s fleecing of its customers by opening fraudulent accounts for the purpose of extracting millions in […]