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…

    … 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- 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

    …. Recruiters have cited that the fallout is from its parent’s retail banking scandal where Wells reached a $185 million settlement with regulators for creating retail banking and credit card accounts that customers had not authorized. Although the company’s wealth division had not been implicated in the scandal, the bank has long boasted about brokers…

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

    … of the money that Tenet receives comes from Medicare and Medicaid. Under state and federal law, Medicare and Medicaid fraud is a crime. The government claims that Tenet Healthcare lied to the government for years by falsely claiming to comply with the 2006 Agreement. Major Fraud Against the United States The crime of Major Fraud Against the United…

    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- 20 readers -
  • “Banks Pump Up”? So Do Whistleblower Lawyers!

    … their happiness comes from a perception that regulators will leave them alone for the next 4 years. We aren’t sure that is true. And even if it is, whistleblowers still have the ability to prosecute bad their behavior. False Claims Act and Whistleblower Awards 2016 was the year of the whistleblower. The Justice Department paid out $519 million…

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

    … run in cycles. True, in the past few years banks have paid billions to settle cases about their shoddy underwriting. Maybe banks have behaved a bit better in the short term but we don’t even believe that. While it is easy to say banks have learned their lesson, they have not. Let’s look at Bank of America or Wells Fargo or Barclays. These banks…

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

    … Wells Fargo, PNC Hit with Huge Fines for Cybersecurity Lapses December 23, 2016 by Brian Mahany The Financial Industry Regulatory Authority (FINRA) fined several financial services firms a total of $14.4 million for failure to properly safeguard customer records. Fourteen securities dealers received fines including the brokerage arms of two…

    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- 16 readers -
  • Does Universal Health Services Kidnap Patients?

    …, and chemical restraints, bad patient care, medication theft, you name it. The entire industry has very little oversight…” We are shocked by the allegations but have heard similar stories before. Private psychiatric hospitals make their money by filling up beds. As long as Uncle Sam or a private insurance plan is paying for a patient’s stay…

    Due Diligence- 12 readers -
  • Think Glink

    … of the mortgage companies have at least tried to clean up their acts (since the housing crisis). Unfortunately, I think this [the fine] is a cost of doing business for most of them. Bank of America, Wells Fargo and these other lenders have been hit with so many regulatory violations and the CEOs keep saying they’re really sorry, but six months later…

    Due Diligence- 35 readers -
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