By Bella Arnold
The Wells Fargo & Co. locations at Long Beach State will be closing after the company terminated its lease with the university last month, according to University Student Union Director Sylvana Cicero.
Cicero said that Wells Fargo reexamined its corporate financial strategy and began the process of its closing smaller locations, including CSULB’s kiosk next to Sbarro in the USU and ATM located next to Amazon@the Beach.
According to Cicero, Wells Fargo began its contract with CSULB in 2008. At the time of its opening, the USU location was the only full-service bank on any California State University campus.
Tonya Hamrich, manager of Wells Fargo, cuts the ribbon of the new location at the South Plaza on Friday, Sept. 9, 2008. The bank offers full banking services, the first of its kind in the CSU system. Photo credit: Daily Forty-Niner archive
“ASI and the CSULB Wells Fargo branch have had a positive relationship since 2008,” Cicero said. “Their services and staff will be missed at the University Student Union.”
The university is currently looking for another financial institution to fill the vacancy, though no decisions have been made, according to Miles Nevin, ASI executive director.
The university should have terminated its contract with Wells Fargo a long time ago. Why would the university conduct business with a company wrought with fraud and after the CEO stated there are no African American bankers he can hire?!