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The financial company Wells Fargo was founded in 1852 by Henry Wells and William G. Fargo. It offers a variety of services to consumers and businesses.
Wells Fargo was one of the troubled businesses which received money from the government through the $700 billion bail out package. The company received $25 billion through the bailout. Amidst widespread criticism, Wells Fargo canceled their 12-day retreat to Las Vegas in February 2009, which would have been part of an annual conference for its top mortgage officers. Wells Fargo had booked rooms for the event at the two five-star hotels Wynn Las Vegas and Encore Las Vegas. CBS 11: Bailed-Out Wells Fargo Plans Vegas Casino Junkets(February 3, 2009)msnbc.com: Wells Fargo cancels Las Vegas trip (February 3, 2009)
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Fast Facts
- Stock symbol: NYSE: WFC
- Annual revenue (2007): $39.39 billion (United States|US)
- Founder(s): Henry Wells and William G. Fargo
- Year Established: 1852
- Industry: Financial Services
- Phone: 800-869-3557
- HQ: San Francisco, California
- President and CEO: John Stumpf
- Staff: 160,000 (2007)
- Other key people: Richard Kovacevich, Chairman
- Received $25 billion from the government's $700 billion bail out package in 2008
- Bought Wachovia Corporation in 2008
- Wachovia and Wells Fargo are two separate banks, but will eventually merge into one bankWells Fargo: [2009https://www.wellsfargo.com/wachovia/faqs/wellsfargo#Q1 Customer Frequently Asked Questions]
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Key Dates
- 1852: Wells Fargo Founded
- 1923: Merged with Union Trust Company
- 1960: Merged with American Trust Company to form Wells Fargo Bank American Trust Company
- 1962: Shortened name to Wells Fargo Bank
- 1968: Converted to a federal banking charter
- 1995: First financial service that allowed internet banking
- 2007: Acquired CIT Construction
- 2008: Bought the bank Wachovia Corporation
- 2008: Received $25 billion from the federal government through the bailout package
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Corporate Retreats
In February 2009, it was reported that Wells Fargo would hold a 12-day retreat in Las Vegas, part of a conference for top mortgage officers, which are held yearly in different locations. Previous retreats have included helicopter rides, wine tasting, horseback riding, concerts and other perks. The company had decided to hold the 2009 conference at two five-star hotels despite having received $25 billion from the federal government through the $700 bailout package approved in 2008.CBS 11: Bailed-Out Wells Fargo Plans Vegas Casino Junkets(February 3, 2009)Wells Fargo canceled this trip in response to widespread criticism that the company was misusing their $25 billion bailout money. In a news release the company noted that it had never planned to use the bailout money to fund the trip.msnbc.com: Wells Fargo cancels Las Vegas trip (February 3, 2009)
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Related Mahalo Pages
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Wells Fargo & Company: Official Site
Start here to bank and pay bills online. Wells Fargo provides personal banking, investing services, small business, and commercial banking.wellsfargo.com -
Careers
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Contact Us
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Wikipedia: Wells Fargo
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Hoovers: Wells Fargo & Company
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CBS 11: Bailed-Out Wells Fargo Plans Vegas Casino Junkets
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Investor Relations
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Wells Fargo & Company: Official Site
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Serving the banking and investment needs of its customers for more than 150 years, Wells Fargo is an enduring icon of American business and a vital symbol of the promise of the American Dream. Capitalizing on the California Gold Rush, Henr...
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Zac Cobb, sent to California by Wells Fargo to investigate stolen gold shipments, encounters vigilantes and a corrupt federal judge who was formerly commander of a Union prison where his brothers were held during the Civil War. Origin...
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Wells Fargo on Twitter Powered by Twitter
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jesus christ first the CPAP place called to verify shipping shit and then wells fargo called to sell me some bullshit
@RabbiVole | November 09, 2009 05:53 PM -
Is this Wells Fargo's band-aid approach to mortgage recovery? http://ow.ly/AMfQ
@luxeagent | November 09, 2009 05:52 PM -
#admin#job alert Administrative Assistant 3 - Wells Fargo - Minneapolis, MN: complex to complex.. http://bit.ly/3JQ0CD
@Admnjobcast | November 09, 2009 05:48 PM -
Hiring a Insurance Underwriter 2 at Wells Fargo (Washington, DC) http://bit.ly/HOOAv #jobs #shjobs
@FinanceJobDC | November 09, 2009 05:47 PM
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Questions and Answers About Wells Fargo | View All | Ask a Question
View All Wells Fargo Questions (2178) | Ask a QuestionDoes the NAACP have a case against Wells Fargo and HSBC for selling sub-prime loans to minorities? (2 Answers)If it turns out that what they are claiming is true (blacks with identical credit scores and similar situations to whites getting worse loans than those white people), then they ... read moreIs anyone having problems getting a home mortgage from Wells Fargo? (1 Answer)I haven't tried to get a mortgage (going to lay low in my current home), but they reduced the limit on my credit card. I've heard this is going on ... read moreDoes Wachovia have a new stock ticker symbol since the merger with Wells Fargo? The WB does not work anymore. (2 Answers)The ticker has been pulled from the market as the company goes through the merger. The only thing that still works are their preferred stock tickers. However, even these will ... read more
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Wells Fargo Competitors
- Bank of America: Official Site | Hoovers
- Citigroup: Official Site | Hoovers
- U.S. Bancorp: Official Site | Hoovers
- Washington Mutual: Official Site | Hoovers
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