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In 1954, Wells Fargo & Union Trust shortened its name to Wells Fargo Bank. Four years later, it merged with American Trust Company to form the Wells Fargo Bank American Trust Company. It changed its name back to Wells Fargo Bank in 1962. In 1968, Wells Fargo was converted to a federal banking charter and became Wells Fargo Bank, N.A.
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 further ...
Elizabeth Ashburn Duke. Betsy Duke (born Elizabeth Ashburn Duke; July 23, 1952) [1] is an American bank executive who served as a member of the Federal Reserve Board of Governors from 2008 to 2013. Duke was confirmed by the Senate to fill an unexpired term ending January 31, 2012. She was the seventh woman to be appointed to the board.
April 17, 2024 at 5:50 AM. Wells Fargo wants a California state court to toss out a lawsuit filed by former CEO Timothy Sloan who claims the bank owes him $34 million in compensation. The San ...
Those are some of the infractions allegedly committed by Wells Fargo that has led the bank to agree to a $3.7 billion settlement with the Consumer Financial Protection Bureau. The settlement ...
As of October 19, 2023, there were 4,049 commercial banks and 565 savings and loan associations in the U.S. insured by the Federal Deposit Insurance Corporation (FDIC) with US$23.4 trillion in assets. There are a few other banks not FDIC insured, e.g. Bank of North Dakota (state-owned bank).
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