Wells Fargo

Corporate brand

A major American diversified financial-services company providing consumer and commercial banking, mortgage lending, investment banking, wealth management, and specialized finance.

Last updated November 4, 2026

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Overview

Wells Fargo & Company is a large American financial-services company and one of the four institutions commonly described as the United States' Big Four banks. Its principal banking subsidiary is Wells Fargo Bank, National Association. The group serves consumers, small businesses, middle-market companies, large corporations, institutions, and investors through four principal operating segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management. The Wells Fargo name originated in 1852, when Henry Wells and William G. Fargo established Wells Fargo & Company to provide express delivery and banking services to California during the economic expansion associated with the gold rush. The early business moved gold, money, mail, and other goods across the American West. Its stagecoach and express heritage later became a distinctive part of the brand identity, although the modern company is primarily a bank and financial-services enterprise rather than a transportation business. The company's modern form was shaped by consolidation. The original Wells Fargo banking and express activities were separated in the early twentieth century, and the banking organization subsequently combined with other institutions, including Nevada National Bank, Union Trust Company, American Trust Company, Crocker National Bank, Barclays Bank of California, and First Interstate Bancorp. In 1998, Minneapolis-based Norwest Corporation acquired Wells Fargo Bank. The combined company retained the better-known Wells Fargo name and continued to operate from San Francisco, linking Norwest's nationwide banking platform with Wells Fargo's established identity and West Coast presence. The 2008 acquisition of Wachovia transformed Wells Fargo into a coast-to-coast retail and commercial bank and substantially expanded its deposits, branches, mortgage-servicing operations, and corporate-finance capabilities. The company has also operated or invested in equipment finance, rail finance, brokerage, asset management, institutional retirement services, and other specialized businesses. It has maintained international offices and support operations, but its core franchise and strategic emphasis remain centered on the United States. For many years, Wells Fargo promoted a cross-selling model in which employees were encouraged to deepen relationships by selling multiple products to existing customers. This approach supported the company's image as a broad, relationship-oriented financial institution, but aggressive sales targets also produced the 2016 unauthorized-accounts scandal. Regulators and later internal investigations found that employees had opened deposit accounts and credit cards without customers' authorization. The episode led to executive departures, employee dismissals, customer compensation, congressional and regulatory scrutiny, and extensive litigation. It also exposed weaknesses in governance, risk management, incentive design, complaint handling, and board oversight. The continuing consequences included a 2018 Federal Reserve asset-growth restriction that prevented the company from expanding beyond its year-end 2017 asset level until specified governance and risk-management deficiencies were addressed. The restriction became an unusually visible symbol of the company's remediation effort. The Federal Reserve removed the asset-growth restriction on June 3, 2025, after determining that Wells Fargo had satisfied the conditions required for that portion of the enforcement action, although other provisions remained subject to separate requirements at that time. Under Chairman and Chief Executive Officer Charlie Scharf, who became CEO in October 2019, Wells Fargo has emphasized operational simplification, stronger controls, technology investment, balance-sheet discipline, and rebuilding trust with regulators and customers. Its current business scope includes checking and savings accounts, cre…

History

Wells Fargo & Company was established in 1852 by Henry Wells and William G. Fargo, who had also helped build American Express. The new enterprise was designed to provide express delivery and banking services to California, whose population and commercial activity were expanding rapidly during the gold rush. Its early operations included transporting gold from the Philadelphia Mint, moving mail and supplies, and providing faster express service than the ordinary postal system. By the end of the gold-rush era, Wells Fargo had become a major express and banking organization in the American West. It financed and supported transportation enterprises, including the Butterfield Overland Mail Company. When federal funding problems caused the overland mail operator to default, Wells Fargo took control of the western portion of the route and became involved in Pony Express operations. A later consolidation brought Wells Fargo, Holladay, and Overland Mail stage lines together under the Wells Fargo name. In the late nineteenth century, Lloyd Tevis became a dominant figure in the company and served as president from 1872 to 1892. The business remained closely associated with western commerce, railroads, stagecoach transport, and banking. In 1905, the express and banking operations were separated. Wells Fargo's banking business merged with Nevada National Bank to create Wells Fargo Nevada National Bank. During World War I, the federal government nationalized the company's express activities into the United States Railway Express Agency. The express business ultimately continued under successor arrangements until 1975, while the bank developed independently. The banking organization went through several name changes and combinations. Wells Fargo Nevada merged with Union Trust Company in 1923, producing Wells Fargo Bank & Union Trust Company. The name was shortened to Wells Fargo Bank in 1954. A 1958 combination with American Trust Company produced Wells Fargo Bank American Trust Company, but the bank returned to the Wells Fargo Bank name in 1962. In 1968, it adopted a national-bank charter and became Wells Fargo Bank, N.A. The Wells Fargo & Company holding company was created the following year, with the bank as its main subsidiary. The latter twentieth century brought an acquisition-led expansion. Wells Fargo bought Crocker National Bank in 1986, Bank of America's personal trust business in 1987, Barclays Bank of California in 1988, and branches from Great American Bank in 1991. It acquired First Interstate Bancorp in 1996. The First Interstate integration was difficult and produced significant management turnover, but the transaction further expanded Wells Fargo's presence across the western and central United States. The company also became an early digital-banking pioneer, introducing internet banking in 1995. In 1998, Norwest Corporation acquired Wells Fargo Bank. The combined organization retained the Wells Fargo name because of its stronger national recognition and continued to use San Francisco as its principal corporate center. Norwest's acquisition strategy and Wells Fargo's brand created a broad retail and commercial network. The company subsequently acquired National Bank of Alaska and First Security Corporation in 2000, added other banking and specialized-finance businesses, and expanded its brokerage, equipment-finance, and investment-management activities. The defining expansion of the early twenty-first century came during the 2008 financial crisis. Wells Fargo acquired Wachovia in an all-stock transaction after a competing proposal from Citigroup and litigation over Wachovia's alleged exclusivity agreement. The transaction made Wells Fargo a coast-to-coast bank and significantly increased its customer, branch, deposit, mortgage, and corporate-finance footprint. The U.S. Treasury also provided Wells Fargo with $25 billion of preferred-stock capital through the Troubled Asset Relief Program in October 2008. Wells Fargo redeemed that preferred stock in December 2009, together with accrued dividends. After the crisis, Wells Fargo continued to reshape its portfolio. It expanded rail and equipment finance, acquired Merlin Securities and rebranded the business as Wells Fargo Prime Services, and took a stake in The Rock Creek Group. It acquired GE Capital Rail Services in 2015 and sold or separated several noncore businesses during the following years, including student lending, institutional retirement services, and asset management. The former Wells Fargo Asset Management business was sold in 2021 and relaunched as Allspring Global Investments. The company's reputation was severely damaged by the cross-selling scandal that became public in 2016. Employees, responding to demanding sales targets and incentive structures, opened deposit accounts and credit cards without customer authorization. Regulators imposed penalties, thousands of employees were dismissed, and CEO John Stumpf resigned. Subsequent investigations identified management and governance failures rather than an isolated employee problem. The scandal was followed by additional investigations involving auto insurance, mortgage lending, deposit-account freezes, foreign-exchange practices, and other consumer and control issues. In February 2018, the Federal Reserve imposed an asset-growth restriction that prevented Wells Fargo from exceeding its 2017 asset level until governance and risk-management improvements were completed. Tim Sloan became CEO after Stumpf but resigned in 2019 amid continuing scrutiny. Charles Scharf became CEO in October 2019 and led a multiyear remediation and restructuring program focused on controls, compliance, technology, operating discipline, and organizational simplification. In June 2025, the Federal Reserve removed the asset-growth restriction after concluding that Wells Fargo had fulfilled the conditions required for that portion of the enforcement action. The remaining history of the company is therefore characterized by an ongoing effort to convert regulatory remediation into a more sustainable, digitally enabled, and broadly diversified financial-services franchise.

2026
Annual report describes continuing transformation
[3]Wells Fargo 2025 Annual Reportwellsfargo.com
The 2025 annual report presented Wells Fargo as a four-segment financial-services company with approximately $2.1 trillion in assets and ongoing regulatory remediation.
2025
Federal Reserve removes asset-growth restriction
[7]Federal Reserve removes Wells Fargo asset-growth restrictionfederalreserve.gov
The Federal Reserve determined that Wells Fargo had met the conditions necessary to remove the growth restriction from the 2018 enforcement action.
2021
Asset-management division sold and rebranded as Allspring
[1]Wells Fargoen.wikipedia.org
Wells Fargo Asset Management was sold to GTCR and Reverence Capital Partners and became Allspring Global Investments.
2019
Charlie Scharf becomes CEO
[5]Charlie Scharf biographywellsfargo.com
Charlie Scharf was selected to lead the company during its post-scandal transformation.
2018
Federal Reserve imposes asset-growth restriction
[6]Federal Reserve 2018 Wells Fargo enforcement actionfederalreserve.gov
The Federal Reserve capped the company's assets at its 2017 year-end level until governance and risk-management deficiencies were addressed.
2016
Unauthorized-accounts scandal becomes public
[8]CFPB unauthorized-account enforcement actionconsumerfinance.gov
Regulators announced penalties over the opening of customer accounts and credit cards without authorization, triggering executive departures and prolonged remediation.
2015
GE Capital Rail Services acquired
[1]Wells Fargoen.wikipedia.org
Wells Fargo expanded its rail-finance business through the acquisition of GE Capital Rail Services.
2009
Treasury preferred stock redeemed
[1]Wells Fargoen.wikipedia.org
Wells Fargo redeemed the $25 billion preferred-stock investment and paid accrued dividends.
2008
Wachovia acquired
[1]Wells Fargoen.wikipedia.org
The acquisition created a coast-to-coast banking platform and greatly increased Wells Fargo's mortgage, branch, deposit, and commercial-finance operations.
2008
Receives U.S. Treasury preferred-stock investment
[1]Wells Fargoen.wikipedia.org
Wells Fargo received $25 billion through the Emergency Economic Stabilization Act during the financial crisis.
2000
National Bank of Alaska and First Security acquired
[1]Wells Fargoen.wikipedia.org
The transactions broadened Wells Fargo's retail footprint beyond its traditional western markets.
1998
Norwest merger creates modern Wells Fargo
[1]Wells Fargoen.wikipedia.org
Norwest acquired Wells Fargo Bank; the combined company retained the Wells Fargo name and its San Francisco identity.
1996
First Interstate Bancorp acquired
[1]Wells Fargoen.wikipedia.org
The transaction extended Wells Fargo's scale across the western and central United States, although integration was difficult.
1995
Internet banking introduced
[1]Wells Fargoen.wikipedia.org
Wells Fargo became an early major U.S. financial institution to offer internet banking.
1986
Crocker National Bank acquired
[1]Wells Fargoen.wikipedia.org
The acquisition expanded Wells Fargo's California banking franchise.
1969
Wells Fargo & Company holding company formed
[1]Wells Fargoen.wikipedia.org
A holding company was created with Wells Fargo Bank as its principal subsidiary.
1968
Adopts national-bank charter
[1]Wells Fargoen.wikipedia.org
The bank became Wells Fargo Bank, N.A., providing the legal structure used by the principal banking subsidiary today.
1923
Combination with Union Trust Company
[1]Wells Fargoen.wikipedia.org
Wells Fargo Nevada merged with Union Trust Company to form Wells Fargo Bank & Union Trust Company.
1905
Banking and express operations separated
[1]Wells Fargoen.wikipedia.org
The company's banking and express businesses were separated, and the bank combined with Nevada National Bank.
1872
Lloyd Tevis becomes president
[1]Wells Fargoen.wikipedia.org
Lloyd Tevis acquired a major stake and became president, serving until 1892.
1860
Expansion into overland mail and Pony Express operations
[1]Wells Fargoen.wikipedia.org
After the Butterfield Overland Mail Company defaulted, Wells Fargo took control of the western mail route and became involved in Pony Express operations.
1852
Wells Fargo & Company founded
[1]Wells Fargoen.wikipedia.org
Henry Wells and William G. Fargo established the company to provide express delivery and banking services to California and the American West.

Products and positioning

Positioned as a full-service, relationship-oriented American bank combining a large consumer branch and digital franchise with commercial banking, capital-markets, mortgage, and wealth-management capabilities.

Retail banking and consumer finance
Consumer Banking and Lending
The consumer franchise provides deposit accounts, debit cards, credit cards, personal lending, auto finance, home lending, and digital and branch-based banking services. It is the most visible part of the Wells Fargo brand and historically supported the company's relationship-banking and cross-selling model. The business now places greater emphasis on controls, customer remediation, digital servicing, and more disciplined product governance.
Commercial banking
Commercial Banking
Commercial Banking serves privately held and middle-market companies, commercial real-estate clients, government entities, and other organizations. Its services include lending, treasury management, payments, equipment finance, deposit products, and industry-specific financial solutions. The segment connects relationship managers with Wells Fargo's broader capital, payments, and risk-management capabilities.
Investment banking and capital markets
Corporate and Investment Banking
Corporate and Investment Banking provides advisory, underwriting, lending, market-making, sales and trading, foreign exchange, securities services, and other capital-markets products to corporations, financial institutions, governments, and institutional investors. The business represents Wells Fargo's principal large-company and investment-bank offering and has expanded through acquisitions and internal rebuilding over several decades.
Wealth management and brokerage
Wealth and Investment Management
Wealth and Investment Management includes brokerage, financial advice, private banking, trust services, investment products, and related planning services. Wells Fargo Advisors is the most recognizable consumer-facing name associated with the group's brokerage and advisory operations. The segment serves affluent individuals, families, business owners, and institutional clients through advisers and specialized wealth platforms.
Mortgage finance
Residential mortgage lending and servicing
Wells Fargo has historically been one of the largest U.S. mortgage originators and servicers. Its mortgage business has included home-purchase loans, refinancing, home-equity products, servicing, and related fulfillment and capital-markets activity. Mortgage lending has been strategically important but has also been associated with regulatory scrutiny concerning underwriting, servicing, foreclosure practices, and treatment of borrowers.
Specialized finance
Equipment and rail finance
Through specialized subsidiaries and businesses, Wells Fargo has provided financing and leasing for commercial equipment, transportation assets, and railcars. Wells Fargo Rail became a significant platform after the acquisition of GE Capital Rail Services in 2015. This business extends the company's commercial-finance capabilities beyond conventional deposits and loans.
Digital financial services · 1995
Digital banking
Wells Fargo has offered online and mobile banking for decades, beginning with an early internet-banking service in 1995. Current digital capabilities include account opening and servicing, mobile deposits, payments, card management, alerts, digital wallets, person-to-person transfers, and integrated access to lending and investment products. Digital delivery is intended to complement, rather than entirely replace, the company's branch network.

Controversies

2022
CFPB consumer-account, mortgage, and auto-loan abuses
The Consumer Financial Protection Bureau announced a broad resolution addressing alleged unlawful or improper practices involving deposit accounts, auto loans, mortgages, and other consumer products. The order included customer compensation and a civil penalty.
Source
2022
Disparate mortgage-refinancing outcomes reported
Reporting based on mortgage-application data examined Wells Fargo's refinancing decisions involving Black applicants and raised concerns about racial disparities in approval outcomes. The issue added to scrutiny of the bank's fair-lending and mortgage practices.
Source
2021
Foreign-exchange customer fraud allegations
The U.S. Department of Justice announced a resolution involving allegations that Wells Fargo had engaged in fraudulent conduct in foreign-exchange transactions with customers.
Source
2021
OCC orders Wells Fargo to pay $250 million penalty
In a regulatory action concerning Wells Fargo's home lending unit, the Office of the Comptroller of the Currency ordered the bank to pay a $250 million penalty. The penalty was connected to problems in the home lending unit and to violations of a 2018 consent order. Alongside the penalty, the OCC imposed new restrictions on the bank's mortgage business practices. The action addressed unsafe or unsound home lending practices, according to the source account of the event.
Source
2021
FINRA fines Wells Fargo firms for record-keeping violations
FINRA censured Wells Fargo Clearing Services and Wells Fargo Advisors Financial Network and fined them $2.25 million for violating books-and-records retention requirements.
Source
2020
Wells Fargo sales-scandal settlement
Wells Fargo entered into a deal with the U.S. Department of Justice and the U.S. Securities and Exchange Commission to settle a scandal involving fake account openings. The source does not state that the settlement was completed. This entry records the agreement as reported and does not add further details beyond the event and the source quote.
Source
2020
Wells Fargo reaches $3 billion settlement resolving fake-accounts investigations
Wells Fargo reached a $3 billion settlement with federal authorities to resolve criminal and civil liabilities related to its fake-accounts scandal. As part of the settlement, the bank admitted that it falsified bank records, harmed customers' credit ratings, misused personal information, and wrongfully collected fees and interest between 2002 and 2016. The settlement addressed investigations into the bank's practices during that period.
Source
2020
Wells Fargo reaches $3 billion settlement over fake-accounts scandal
Wells Fargo reached a settlement with the U.S. Department of Justice and the Securities and Exchange Commission resolving criminal and civil liabilities related to its fake-accounts scandal. The agreement included a $3 billion fine. As part of the settlement, Wells Fargo admitted that it falsified bank records, harmed customers' credit ratings, unlawfully misused personal information, and wrongfully collected fees and interest.
Source
2020
Borrowers sue Wells Fargo over forbearance policy
Borrowers filed a proposed class-action lawsuit alleging that Wells Fargo placed mortgages into forbearance without borrowers' explicit permission, allegedly damaging their credit reports. Wells Fargo said it had notified affected customers how to remove themselves from forbearance and apologized to customers who received it without expressly requesting it.
Source
2020
Wells Fargo faces backlash over CEO's remarks on Black talent
Wells Fargo faced employee and public criticism after CEO Charlie Scharf's remark that there was a "very limited pool of black talent to recruit from" was reported. Scharf apologized in a company-wide memo, calling it an insensitive comment reflecting his own unconscious bias.
Source

Brand decisions

2025
Exit the Federal Reserve asset-growth restrictionOther
Background
The Federal Reserve reviewed Wells Fargo's remediation and third-party assessments under the 2018 enforcement action.
Action taken
The Federal Reserve removed the asset-growth restriction after determining that Wells Fargo had fulfilled the conditions required for its removal.
Aftermath
Wells Fargo regained the ability to pursue growth without the specific 2018 asset cap, while other enforcement-action provisions remained until separately satisfied.
Source
2025
Seek early termination of Bilt Rewards partnershipStrategy
Background
The credit-card partnership, launched in 2022, reportedly generated significant losses for Wells Fargo and no longer fit the company's preferred economics.
Action taken
Wells Fargo announced that it sought to end the partnership before its originally expected 2029 end date.
Aftermath
The proposed change reflected tighter partnership economics and broader portfolio discipline after the end of the asset cap.
Source
2021
Sell Wells Fargo Asset ManagementM&A
Background
Wells Fargo continued simplifying its portfolio and separating businesses that were not central to its post-scandal strategy.
Action taken
The company sold Wells Fargo Asset Management to GTCR and Reverence Capital Partners.
Aftermath
The business was relaunched as Allspring Global Investments, ending its direct ownership by Wells Fargo.
Sale consideration. $2.1 billion (2021)
Source
2018
Launch a multiyear remediation program under regulatory asset capStrategy
Background
The Federal Reserve's enforcement action required Wells Fargo to improve governance, risk management, and board oversight before it could resume unrestricted growth.
Action taken
The company invested in control infrastructure, compliance, risk governance, customer remediation, technology, and organizational restructuring while operating under the asset cap.
Aftermath
The asset-growth restriction remained for more than seven years and was removed by the Federal Reserve in June 2025 after required conditions were met.
Source
2016
End the traditional cross-selling incentive modelStrategy
Background
The unauthorized-accounts scandal demonstrated that sales targets and compensation practices had created serious customer and control risks.
Action taken
Wells Fargo ended or redesigned sales practices, dismissed employees, set aside funds for customer remediation, and began restructuring governance and compliance controls.
Aftermath
The company faced executive turnover, extensive enforcement actions, litigation, reputational damage, and the 2018 Federal Reserve asset-growth restriction.
Source
2015
Acquire GE Capital Rail ServicesM&A
Background
Wells Fargo sought to expand specialized commercial finance and strengthen its rail-leasing platform.
Action taken
Wells Fargo Rail acquired GE Capital Rail Services and combined it with First Union Rail.
Aftermath
The transaction expanded Wells Fargo's rail-finance scale and diversified its commercial-finance offering.
Source
2008
Acquire Wachovia during the financial crisisM&A
Background
Wachovia was under severe pressure during the 2008 financial crisis, and competing proposals from Wells Fargo and Citigroup produced litigation and negotiations involving the FDIC.
Action taken
Wells Fargo agreed to acquire Wachovia in an all-stock transaction valued at approximately $14.8 billion at announcement.
Aftermath
The acquisition created a nationwide bank and materially expanded Wells Fargo's branch, deposit, mortgage, and commercial-finance operations.
Transaction value. Approximately $14.8 billion in stock at announcement (October 2008)
- Citigroup — Citigroup challenged the transaction, asserting that Wachovia was subject to an exclusivity agreement, and sought damages after the Wells Fargo transaction proceeded.
Source
2008
Accept U.S. Treasury preferred-stock investmentOther
Background
The global financial crisis created extraordinary pressure on the U.S. banking system and led the Treasury to invest capital through the Troubled Asset Relief Program.
Action taken
Wells Fargo accepted $25 billion of preferred-stock capital from the U.S. Treasury.
Aftermath
The company later redeemed the preferred stock in December 2009 and paid accrued dividends.
Preferred-stock investment. $25 billion received; redeemed in December 2009 (October 2008-December 2009)
Source
1998
Retain the Wells Fargo name after the Norwest mergerM&A
Background
Norwest Corporation acquired Wells Fargo Bank after Wells Fargo had built a widely recognized national and western banking identity.
Action taken
The combined company retained the Wells Fargo name and continued to use San Francisco as its principal corporate center.
Aftermath
The decision preserved a valuable consumer brand while combining Norwest's acquisition platform with Wells Fargo's banking franchise.
Source

Recent events

2026-11-02
Worker sues Wells Fargo over alleged military-service discrimination[18]Borrowers sue Wells Fargo over forbearance policyhcamag.com
Reported: 2026-11-03
A Pennsylvania National Guard member filed a federal lawsuit against Wells Fargo alleging discrimination and retaliation tied to his military duties, including that the bank terminated him. The allegations have not been tested, and no court has made findings or rulings on the merits.
2026-10-13
Wells Fargo reports mixed third-quarter 2026 results[26]富国银行发布2026年第三季度业绩，每股收益超预期、营收不及预期cnbc.com
Reported: 2026-10-13
Wells Fargo reported mixed third-quarter 2026 results, with EPS of $1.87 beating the $1.85 consensus estimate while revenue of $21.87 billion missed the $22.3 billion estimate. The bank said it is maintaining its guidance for net interest income and non-interest expenses this year, and reported net interest income of $12.52 billion, slightly below the $12.66 billion analysts expected.
2026-10-13
Wells Fargo scheduled to report Q3 2026 earnings on October 13[27]富国银行定于10月13日发布2026年第三季度财报cnbc.com
Reported: 2026-10-11
Wells Fargo is scheduled to release its third-quarter 2026 results ahead of the US market open on Tuesday, October 13, 2026, followed by a conference call at 10 a.m. ET. The bank is forecast to post earnings growth of more than 10%, according to LSEG.
Weekdays and relative dates follow the original report; their exact calendar dates have not been verified.
2026-09-29
Tesla secures $30 billion in new credit lines from Citibank and Wells Fargo[28]特斯拉从花旗银行和富国银行获得300亿美元新信贷额度techcrunch.com
Reported: 2026-09-29
Tesla announced on Tuesday (Sept. 29, 2026) that it has secured $30 billion in fresh credit lines: Citibank agreed to a $20 billion three-year delayed-draw term loan facility, and Wells Fargo signed an $8 billion five-year revolving credit facility plus a $2 billion 364-day revolving credit facility. Tesla said it does not plan to draw on the new debt facilities this year, as it has already planned at least $25 billion in capital expenditures, and the lines could help scale the Cybercab robotaxi, Optimus robot, and Tesla Semi.
Weekdays and relative dates follow the original report; their exact calendar dates have not been verified.
2026-08-27
Socure raises $156M in strategic growth funding[29]Socure融资1.56亿美元战略增长资金biometricupdate.com
Reported: 2026-08-27
Socure raised $156 million in strategic growth funding led by Summit Partners, with participation from Goldman Sachs Alternatives, Wells Fargo, Capital One, Docusign and others. The investment includes primary capital and an employee tender offer and will support the Fravity acquisition and global expansion across more than 190 countries.
2022-01-12
NGLCC announces iLead business skills program[30]NGLCC 宣布推出 iLead 商业技能计划prnewswire.com
Reported: 2022-01-12
The National LGBT Chamber of Commerce announced the NGLCC iLead: Grow, Scale & Contract Program for LGBT entrepreneurs. The program will use workshops to build firms' technical skills and capacity, and the announcement also described a $500,000 investment in expanded programming through a new grant from Wells Fargo's Open for Business Fund.
2021-12-08
FINRA fines Wells Fargo firms for record-keeping violations[24]FINRA fines Wells Fargo firms for record-keeping violationsinvestmentnews.com
Reported: 2021-12-08
FINRA censured Wells Fargo Clearing Services and Wells Fargo Advisors Financial Network and fined them $2.25 million for violating books-and-records retention requirements.
Unconfirmed
Wells Fargo sues to foreclose on the Standard High Line Hotel[17]Borrowers sue Wells Fargo over forbearance policydailymail.com
Reported: 2021-11-13
Wells Fargo filed a complaint seeking foreclosure and sale of the Standard High Line Hotel, claiming its owner had failed to make payments on a loan. The hotel owner's chairman said he would vigorously defend against the lawsuit.
2021-09-09
OCC orders Wells Fargo to pay $250 million penalty[23]OCC orders Wells Fargo to pay $250 million penaltyfinanznachrichten.de
Reported: 2021-09-10
Regulators ordered Wells Fargo to pay a $250 million penalty in connection with problems in its home lending unit and violations of a 2018 consent order. The OCC also imposed new restrictions on the bank’s mortgage business practices.
2021-07-07
First Industrial closes revolving credit facility and term loan refinancing[31]First Industrial完成循环信贷额度及定期贷款再融资prnewswire.com
Reported: 2021-07-07
First Industrial Realty Trust announced that it closed a $750 million senior unsecured revolving credit facility and refinanced its $200 million unsecured term loan.

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