Wells Fargo

Wells Fargo & Company is an American multinational banking and financial services holding company which is headquartered in San Francisco, California, with "hubquarters" throughout the country. It is the fourth largest bank in the U.S. by assets and the largest bank by market capitalization. Wells Fargo is the second largest bank in deposits, home mortgage servicing, and debit cards. In 2011, Wells Fargo was the 23rd largest company in the United States.In 2007 it was the only bank in the United States to be rated AAA by S&P, though its rating has since been lowered to AA- in light of the financial crisis of 2007–2012. The firm's primary U.S.
Posts about Wells Fargo
  • Guaranty Bank – FDIC Closure and Whistleblower Post

    … on for years. Whistleblower Awards for Bank Fraud or Misconduct In 1989, Congress passed the Financial Institutions Reform, Recovery and Enforcement Act – FIRREA for short. When originally passed, Congress hoped the law would be used to prosecute small town bankers who frequently used the bank as their own personal piggy bank. Bad loans were rampant…

    Due Diligence- 34 readers -
  • United Airlines Deep Dark Secret

    … Committee calls for an investigation. If that happens, Munoz will likely join former Wells Fargo CEO John Stumpf on the unemployment line.) There are plenty of videos of the incident and now other passengers with tales of being illegally removed from United aircraft are starting to surface. We won’t link them here because they are so easy to find. (You…

    Due Diligence- 11 readers -
  • Fairness in Class Actions Bill Anything But…

    … fees, expert witnesses and court costs in these cases are often over $100,000. What about when Wells Fargo creates a fake account in your name and that causes your credit score to sink? Who can afford to sue for that? Or when a cancerous product from a nearby factory or fracking operation enters your well water? If class actions are rendered…

    Due Diligence- 8 readers -
  • Fairness in Class Actions Bill Anything But…

    … We try hard to keep politics out of this blog. Whether you are a Republican, Democrat, claim no affiliation or belong to another party, most of us agree that fraud, greed and corruption is bad. As a leading plaintiff’s law firm, we have successfully prosecuted False Claims Act whistleblower cases under both Republican and Democratic…

    Due Diligence- 11 readers -
  • Net 204 Brokers Left Wells Fargo in the Fourth Quarter

    … Net 204 Brokers Left Wells Fargo in the Fourth Quarter Posted on Monday, February 13, 2017 at 12:07 PM From the Desk of Jim Eccleston at Eccleston Law LLC: Across its private client, independent brokerage and in-bank brokerage channels, Wells Fargo Advisors experienced a net loss of 204 brokers during the fourth quarter of this past year…

    Eccleston Law Offices- 12 readers -
  • Tenet Exec INDICTED (Tenet Healthcare Whistleblower Post)

    …. (We served as one of lead relators’ counsel in that case.) The only thing that gets the attention of the C-Suite Mafia is watching one of their own doing the “perp walk” on the evening news. Whistleblower Awards and Tenet Healthcare The $514 million fine last October resulted in an $84.4 million whistleblower award! A former Tenet Healthcare…

    Due Diligence- 18 readers -
  • Wells Fargo Eliminates Bonuses For Selling Banking Products

    … Wells Fargo Eliminates Bonuses For Selling Banking Products Posted on Tuesday, January 17, 2017 at 9:05 AM From the Desk of Jim Eccleston at Eccleston Law LLC: Wells Fargo Advisors has eliminated bonus compensation for advisors' sale of banking and lending products. The reason for the elimination of this bonus compensation for advisors stems…

    Eccleston Law Offices- 21 readers -
  • “Banks Pump Up”? So Do Whistleblower Lawyers!

    … in awards. The SEC also had a record year in awards. Who are behind these awards? Whistleblowers. Under the SEC Whistleblower program and False Claim Act, insiders with information about fraud are eligible for awards. Whistleblower awards under both program are as high as 30% of whatever is collected from the wrongdoers. With fines often…

    Due Diligence- 15 readers -
  • The Last Post Crisis Deal? Probably Not – Credit Suisse Whistleblower Post

    …. The payment settles allegations of pre-2008 wrongdoing in the sales of mortgage backed securities (RMBS). To date, the “too-big-to-fail” club members have paid about $46 billion for their RMBS violations. That sum includes our historic whistleblower case that helped the government collect $16.67 billion from Bank of America. By the numbers…

    Due Diligence- 18 readers -
  • Wells Fargo, PNC Hit with Huge Fines for Cybersecurity Lapses

    …, read many,’ or WORM, format, which prevents the alteration or destruction of records stored electronically.” While the violations sound very technical, the practical effect on customers is very real. WORM is a protocol that keeps electronic records safe from alteration or destruction. Can you imagine the disruption to the financial services world…

    Due Diligence- 23 readers -
  • Wells Fargo Ordered to Pay a Former Broker $180,000

    … discrimination, failure to accommodate, failure to prevent discrimination and retaliation in violation of California law. Notably, Wells Fargo had initiated the action against her, asserting that she failed to pay the balance of two promissory notes worth $200,489.02 which Wells Fargo argued became due and payable upon the termination of her…

    Eccleston Law Offices- 17 readers -
  • Does Universal Health Services Kidnap Patients?

    … Investigations If you have information about any psychiatric healthcare provider that is detaining people without medical necessity, prescribing treatment or counseling that is not needed, paying kickbacks for psychiatric or addiction recovery referrals or charging for services not provided, contact us immediately. You may be eligible for an award…

    Due Diligence- 12 readers -
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