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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]
In May 2007, Wells Fargo acquired Greater Bay Bancorp, which had $7.4 billion in assets, in a $1.5 billion transaction. [4] [5] In June 2007, Wells Fargo acquired CIT's construction unit. [6] In January 2008, Wells Fargo acquired United Bancorporation of Wyoming. [7] In August 2008, Wells Fargo acquired Century Bancshares of Texas. [8]
Wells Fargo, San Francisco, California: Retail and investment banking $ 1.5 × 10 ^ 10 [30] October 7, 2008: Landsbanki: Icelandic Financial Supervisory Authority: Commercial bank [31] [32] October 8, 2008: Glitnir: Icelandic Financial Supervisory Authority: Commercial bank [33] [34] October 9, 2008: Kaupthing Bank E: Icelandic Financial ...
More than a year ago, Wells Fargo management suffered a blow when staff at an Albuquerque branch of the fourth largest U.S. lender by assets joined the Communications Workers of America guild in a ...
The closing of a Raleigh Wells Fargo location comes after the bank closed hundreds of branch locations last year.
Wells Fargo is settling a class-action lawsuit from shareholders for $1 billion over claims the bank misled them about how it was complying with regulators in the aftermath of its fake sales ...
Wells Fargo officials are open about their disfavor of the unionization effort but deny that the layoffs of 11 employees in the bank's conduct management intake department were a response to the ...
Wells Fargo's net interest income (NII) — the difference between what it earns on loans and pays out for deposits — fell about 7% to $11.84 billion in the quarter compared with a year earlier ...