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Wells Fargo Bank has agreed to pay $23.7 million to eight states and modify consumers' mortgages to settle deceptive marketing allegations over risky "pick-a-payment" home loans. The home loans ...
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 ...
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.
Map of Wells Fargo branches in August 2015 Wells Fargo branch in Berkeley, California A former Wachovia branch converted to Wells Fargo in the fall of 2011 in Durham, North Carolina American Express Co. early receipts (1853, 1869) Stagecoach with Christmas gifts at a Wells Fargo Bank, San Francisco Wells Fargo & Co. Express building circa 1860, Stockton, California Mud wagon — Wells Fargo U ...
GameStop CEO Ryan Cohen agreed to pay a nearly $1 million penalty to settle the U.S. Federal Trade Commission's claim that he failed to report acquisition of more than $100 million worth of Wells ...
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.
The Federal Deposit Insurance Corporation (FDIC) may assume deposits of banks or allow other banks to assume them. The largest banks to be acquired have been the Merrill Lynch acquisition by Bank of America, the Bear Stearns and Washington Mutual acquisitions by JPMorgan Chase, and the Countrywide Financial acquisition also by Bank of America.
Three former Wells Fargo executives must pay $18.5 million for their role in the bank’s widespread fake sales accounts scandal that came to light nearly a decade ago. Based in San Francisco ...