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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 ...
Wells Fargo Corp. Crocker National Bank: Wells Fargo Corp. (combined California bank uses Crocker's charter) Wells Fargo: 1987 Chemical Bank New York Trust Co. Texas Commerce Bank: Chemical Banking Corporation (TX banks continued to operate as Texas Commerce) $1.2 billion JPMorgan Chase: 1987 NBD Bancorp: USAmeribancs: NBD Bancorp: $250 million ...
This is a list of banks in the United States affected by the 2008 financial crisis. The list includes banks (including commercial banks, investment banks, and savings and loan associations) that have: been taken over or merged with another financial institution, been declared insolvent or liquidated, or; filed for bankruptcy.
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 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.
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]
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.
Wells Fargo Center (Philadelphia) T1 Entertainment & Sports (34% with SK Telecom and Highland Capital) [2] [3] T1; In Demand Networks (33.3% with Cox Communications and Charter Communications) Comcast Spotlight (Advertising) Comcast Technology Solutions; Comcast Ventures (formerly Comcast Interactive Capital) Headend in the Sky (HITS) FreeWheel ...