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The company served its clients through its branch-office networks staffed with 6,618 financial consultants, managing $374 billion in total client assets, and $44 billion in fee based accounts. During its fiscal year 2007, ending February 28, A.G. Edwards had net revenues of $3,110,500,000 and net earnings of $331,400,000.
A federal judge in California ordered Wells Fargo to pay $203 million back to customers and to change its "unfair and deceptive business practices" that led customers to pay multiple overdraft fees.
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 ...
By Dena Aubin NEW YORK (Reuters) - Wells Fargo & Co has been hit with a lawsuit by a Texas jewelry company accusing it of encouraging thousands of retailers nationwide to charge hidden fees to ...
For years, Wells Fargo overcharged almost 11,000 investment advisory accounts about $27 million in fees, federal regulators alleged on Friday.
FILE - A Wells Fargo sign stands in front of a branch of the bank in Bradenton, Fla., Tuesday, Feb. 22, 2022. Consumer banking giant Wells Fargo is being ordered to pay $3.7 billion in fines and ...
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 ...
Since the fraud became public in 2016, the bank has faced a torrent of lawsuits.