Investigations Around the World

Major U.S. bank is found laundering money for Mexican drug cartel; misuse of BP cleanup funds; and forest mismanagement in Latin America

Excerpts from this story referencing "Wells Fargo":

"… London’s Observer chronicled how Wachovia, a major U.S. banknow owned by Wells Fargo, laundered billions of dollars for a drug cartel in Mexico since 2004; the …"

The Subprime 25

A full text list of the top 25 lending companies responsible for subprime loans

Excerpts from this story referencing "Wells Fargo":

"… /Fremont General Corp.Amount of Subprime Loans: At least $61.7 billionWells Fargo Financial/Wells Fargo & Co.Amount of Subprime Loans: At least $51 …"

"… Amount of Subprime Loans: At least $61.7 billionWells Fargo Financial/Wells Fargo & Co.Amount of Subprime Loans: At least $51.8 billionHSBC Finance …"

Bailed-out banks paid no income tax in some years, according to study

By John Dunbar and John Dunbar

New study shows bailed-out banks among those companies that paid no income tax at least one year

Excerpts from this story referencing "Wells Fargo":

"… 0, according to an iWatch News analysis of a new study of tax dodgers.Wells Fargo & Co., Goldman Sachs Group, PNC Financial Services Group, Capital One …"

"… k purchases from the Treasury Department’s Troubled Asset Relief Program.Wells Fargo received the greatest benefit among all 280 companies studied. If the bank …"

"… early $18 billion, the study said. The banking giant paid no taxes in 2009.Wells Fargo was also among the most profitable corporations on the list, having collec …"

"… list, having collected $21.8 billion in profits over the three-year span. Wells Fargo received a $25 billion government investment in October, 2008 from the TAR …"

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Whistleblowers ignored, punished by lenders, dozens of former employees say

By Michael Hudson

Former mortgage company employees say fraud was widespread in industry

Excerpts from this story referencing "Wells Fargo":

"… rmer ran into trouble soon after she started her job as a fraud analyst at Wells Fargo Bank. Her bosses, she later claimed, were upset that she was, well, findin …"

"… e didn’t “see the big picture” and that “it is not your job to fix Wells Fargo.” Management, she claimed, ordered her to stop contacting the company’ …"

"… er to stop contacting the company’s ethics hotline.In the end, she said, Wells Fargo forced her out of her job.Parmer isn’t alone in claiming she was punishe …"

"… ea that employees were punished for reporting problems.In court documents, Wells Fargo denied Parmer’s charges that management interfered with in-house fraud w …"

Wells Fargo hit with $3.1 million fine in mortgage servicing mess

By John Dunbar

A federal judge has ordered Wells Fargo to pay a homeowner $3.1 million for mishandling a loan.

Excerpts from this story referencing "Wells Fargo":

"… information about the status of their loans.  …"

"… al bankruptcy judge in the Eastern District of Louisiana. Manger described Wells Fargo's behavior as "highly reprehensible" in its five-year fight with the homeo …"

"… atch News. In an emailed statement published in the Huffiington Post, Wells Fargo spokesman Tom Goyda said "we believe that there are numerous factual and l …"

Wells Fargo to pay $175M in lending settlement

By The Associated Press

Justice Dept: Wells Fargo to pay $175M to settle allegations of bias against blacks, Hispanics

Excerpts from this story referencing "Wells Fargo":

"… Wells Fargo Home Mortgage. …"

"… air-lending laws, the Justice Department announced Thursday. Wells Fargo, the nation's largest residential home mortgage originator, allegedly enga …"

"… gin rather than because of differences in credit-worthiness. Wells Fargo also will pay $50 million in direct down payment assistance to borrowers i …"

"… l surtax for African Americans in Miami in 2007 was $3,657." Wells Fargo noted in a statement that it has denied the claims. "Wells F …"

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Bailed-out banks, Freddie Mac, AIG gave $6 million to 2008 conventions

By John Dunbar and Michael Beckel

Corporate donors to 2008 party conventions included financial institutions bailed out by government.

Excerpts from this story referencing "Wells Fargo":

"… ions as “our sponsors.”This year, companies ranging from Coca-Cola and Wells Fargo to Xerox and UPS are working to ensure that they have a presence at both c …"

"… both conventions.“There’s a lot of cost around the convention,” said Wells Fargo spokesman Kathy Harrison. “It is important as a good corporate citizen t …"

"… “It is important as a good corporate citizen to support the host city.”Wells Fargo was one of the banks that benefited from the government’s bank bailout, …"

"… s came from U.S. Bancorp ($1 million), Goldman Sachs & Co. ($255,000), Wells Fargo ($250,000), J.P. Morgan Chase ($100,000) and Morgan Stanley ($100,000) and …"

Reform reading: Republicans order up watchdog reports on consumer bureau

By Julie Vorman

A roundup of news and commentary to help consumers monitor the transparency and accountability of the Dodd-Frank financial reform law. ...

Excerpts from this story referencing "Wells Fargo":

"… s run by Bank of America, Morgan Stanley, UBS, Capital One, Credit Suisse, Wells Fargo, the American Bankers Association, the Mortgage Bankers Association, and C …"

"… so collected contributions from PACs run by Goldman Sachs, JPMorgan, HSBC, Wells Fargo, Morgan Stanley, CME Group, and the American Bankers Association.Republica …"

Reform reading: Banks prepare for stress tests, possible rise in ATM fees

By Julie Vorman

A roundup of news and commentary to help consumers monitor the transparency and accountability of the Dodd-Frank financial reform law. ...

Excerpts from this story referencing "Wells Fargo":

"… d of stress-testing, whether they plan to raise dividends or not.JPMorgan, Wells Fargo & Co., U.S. Bancorp, and PNC Financial Services Group Inc. are among t …"

"… common equity ratio of 8.45 percent on Sept. 30, JPMorgan had 9.5 percent, Wells Fargo 8 percent, and Citigroup Inc. 10.3 percent, Bloomberg said.Higher ATM fees …"

Big banks can fund mortgage aid programs If government won't, says Democrat

By Julie Vorman

As budget-conscious House Republicans try to kill a $1 billion program to help unemployed Americans avoid foreclosure, Democrat Barney Frank

Excerpts from this story referencing "Wells Fargo":

"… loyed homeowners."I don't mean to demonize, but I think Goldman Sachs, and Wells Fargo, and the Bank of America, and Citicorp, and Morgan Stanley, and the large …"

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