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The acquisition of Wachovia by Wells Fargo was completed on December 31, 2008, after a government-forced sale to avoid Wachovia's failure. The Wachovia brand was absorbed into the Wells Fargo brand in a process that lasted three years. [2] On October 15, 2011, the final Wachovia branches were converted to Wells Fargo. [5]
On April 5, 2012, a federal judge ordered Wells Fargo to pay $3.1 million in punitive damages over a single loan, one of the largest fines for a bank ever for mortgaging service misconduct, after the bank improperly charged Michael Jones, a New Orleans homeowner, with $24,000 in mortgage fees, after the bank misallocated payments to interest ...
The firm was acquired by Wachovia to be folded into Wachovia Securities; [1] Wachovia was subsequently acquired by Wells Fargo, and the securities division was folded into Wells Fargo Advisors. The firm provided securities and commodities brokerage, investment banking, trust services, asset management, financial and retirement planning, private ...
In November 2020, he settled further investigations by the SEC and agreed to pay an additional civil penalty of $2.5 million. [21] [22] Upon leaving Wells Fargo, Stumpf's total compensation was more than $130 million. [23] High-profile critics, including Elizabeth Warren, have called for criminal charges to be filed against him. [24]
Wells Fargo: Wachovia: Wells Fargo: $15.1 Billion [40] Wells Fargo: 2008 JPMorgan Chase: Washington Mutual: JPMorgan Chase: $1.9 Billion [41] JPMorgan Chase & Co. 2008 Fifth Third Bank: First Charter Bank: Fifth Third Bank: $1.1 billion [42] Fifth Third Bank: 2008 PNC Financial Services: National City Corp. PNC Financial Services: $5.08 billion ...
Wells Fargo Mobile is available for free on Amazon, in the iTunes App Store, Windows Store and on Google Play, where it’s been downloaded 10 to 50 million times. ... Cost to Download. Free ...
The bank was renamed in the mid-1980s after a series of mergers. After being acquired by First Union Corporation, which later also acquired Wachovia National Bank to become Wachovia Corporation, CoreStates Financial Corporation became a part of Wells Fargo in 2008 when Wachovia (formerly known as First Union) was acquired by that company.
If enacted, the Wells Fargo analysts estimate, a 25% tariff on all auto parts from Canada or Mexico will add $2,100 in cost to the consumer for each U.S. assembly vehicle.