Wachovia controversies
Controversies tied to this brand in public sources. A listing is not a finding of fault.
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2008
Mortgage exposure and financial-crisis collapse
Wachovia’s acquisition of Golden West increased its exposure to residential mortgages, including option adjustable-rate loans. As housing prices fell and credit conditions deteriorated, concerns about mortgage losses and liquidity contributed to the company’s loss of independence and eventual sale to Wells Fargo.