California Sanctions Wells Fargo
This week, California's state treasurer announced major sanctions against San Francisco-based Wells Fargo Bank. This comes in the wake of revelations that bank employees created some 2 million fake accounts without customers' knowledge. The state will discontinue investing in Wells Fargo securities and stop using the company to underwrite certain bond deals for at least one year. State Treasurer John Chiang talks with Scott Shafer.
Oakland Cannabis Rules
The city of Oakland has a controversial new plan to regulate marijuana businesses. Half of new permits to operate a marijuana business would go to perceived victims of the war on drugs -- residents who have been jailed for a marijuana offense or who live in parts of East Oakland. But some think the plan could exclude the very people it's trying to help. San Francisco Chronicle Oakland reporter Rachel Swan and cannabis business owner Terryn Buxton discuss this unusual program.
Crime Rate Analysis
Over the past five years, the number of people locked up in California prisons and jails has dropped significantly, down by about 30,000 inmates. That's due largely to a sweeping criminal justice reform enacted in 2011 that Gov. Jerry Brown dubbed "realignment." The idea was to divert lower-level felons away from overcrowded state prisons and toward county jails and probation departments. The passage of Proposition 47 to decriminalize certain nonviolent offenses put a further dent in the numbers. This week, a new report examines the impact of these changes on crime rates. PPIC researcher and report co-author Mia Bird joins Scott Shafer.
2016 MacArthur Fellow José Quiñonez
Last week, financial expert José Quiñonez was named one of this year's prestigious MacArthur Fellows. He is the founder and CEO of San Francisco-based Mission Asset Fund. His organization helps immigrants and low-income individuals build good credit. Quiñonez joins Thuy Vu.