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Wells Fargo was an American banking company based in San Francisco, California, that was acquired by Norwest Corporation in 1998. During the California Gold Rush in early 1848 at Sutter's Mill near Coloma, California, financiers and entrepreneurs from all over North America and the world flocked to California, drawn by the promise of huge profits.
On October 28, 2008, Wells Fargo was the recipient of $25B of the Emergency Economic Stabilization Act Federal bail-out in the form of a preferred stock purchase. [ 17 ] [ 18 ] Tests by the Federal government revealed that Wells Fargo needed an additional $13.7 billion in order to remain well-capitalized if the economy were to deteriorate ...
On October 3, 2008, after Wachovia turned down an inferior offer from Citigroup, Wachovia agreed to be bought by Wells Fargo for about $14.8 billion in stock. [60] The next day, a New York state judge issued a temporary injunction blocking the transaction from going forward while the competing offer from Citigroup was sorted out. [61]
If mobile banking is a priority for you, Wells Fargo Mobile could be the answer to all your on-the-go banking needs. Wells Fargo Mobile is the bank's official app that lets you easily keep track of...
A.G. Edwards, Inc. was an American financial services holding company; its principal wholly owned subsidiary was A.G. Edwards & Sons, Inc., which operated as a full-service securities broker-dealer in the United States and Europe.
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Wells Fargo & Co will pay $575 million to settle claims made by U.S. states that the bank created phony accounts and committed other customer abuses.
Wachovia Securities grew through the mergers of multiple companies. Its oldest predecessor company, Leopold Cahn & Co. was founded in 1879. One of main Wachovia Securities' predecessor companies was founded in 1934 as the investment firm of J.C. Wheat & Co. Wheat fostered growth through mergers, including the 1971 merger with First Securities that created Wheat First Securities, Inc. and the ...