All Posts Tagged With: "Wells Fargo"
Bank of America (NYSE: BAC) Drops Mortgage Brokers
The fallout from indiscriminate lending is causing banks to be more conservative regarding mortgage lending policies. Research has shown that in house loans performed better than broker loans. This has led to the downsizing of wholesale operations in many banks. The Bank of America (NYSE: BAC) joins JP Morgan Chase and Citigroup, who have reviewed [...]
Wells Fargo (NYSE: WFC) signage to replace Wachovia as conversion begins
Wachovia branches in many locations are changing over to Wells Fargo very soon. The switch to Wells Fargo has been slowly happening since Wells Fargo purchased Wachovia in January 2009 for $12.7 billion. The local branches have been preparing for the change and are even getting made over to accommodate all the new Wells Fargo [...]
Visa (NYSE: V) and Wells Fargo (NYSE: WFC) Teaming Up To Try Out Phone Payments
Previously, we shared information about Bank of America (NYSE: BAC) and Visa (NYSE: V) testing the use of cell phones for making purchases. Now, Visa is joining with Wells Fargo (NYSE: WFC) for another test run of smartphones to pay for purchases in stores. Visa is currently the largest transaction processing network in the world. [...]
Denied a Home Loan Modification? Wells Fargo (NYSE: WFC) Offers Alternative Mortgage Assistance Programs
As large numbers of financially strapped families are canceled from the Making Home Affordable loan trial modification programs, some begin looking for other ways to remain in their homes without having to foreclose or file bankruptcy. Wells Fargo (NYSE: WFC) is a mortgage servicer who has provided assistance to struggling homeowners in the form of [...]
Wells Fargo Encourages Next Generation To Be Financially Savvy (NYSE: WFC)
Wells Fargo realizes that the expenses needed for those attending college can be quite daunting for new high school graduates. Wells Fargo & Company are doing something about it by helping students get ready for college and the expenses involved with that by offering financial management products and services through online and mobile channels. As [...]
Wells Fargo Named Best Consumer Internet Bank in U.S. (NYSE: WFC)
This year Wells Fargo was named the Best Consumer Internet Bank and Best Corporate/Institutional Internet Bank in the U.S. by Global Finance magazine’s World’s Best Internet Banks competition. Wells Fargo won again for Bill Payment and Presentment, Best Web Site Design, and Best Online Deposits Acquisition, and added Best Integrated Consumer Bank Site. On the [...]
Restructuring of Wells Fargo Financial Division (NYSE: WFC)
Wells Fargo & Company announced in a July 7, 2010 news release “the restructuring of its Wells Fargo Financial division, including closing 638 Wells Fargo Financial stores across the United States and exiting the origination of non-prime portfolio mortgage loans.” Wells Fargo’s remaining consumer and commercial loans offered by other Wells Fargo business units will [...]
Wells Fargo Represented At Loan Modification Hearing (NYSE: WFC)
The House Committee on Oversight and Government Reform held a hearing last week to discuss whether or not the processes used by lenders to implement HAMP and other loan modification programs are effective in helping people avoid foreclosure. Michael J. Heid, Co-President of Wells Fargo Home Mortgage was present at this hearing, along with other [...]
Wells Fargo First To Offer E-Receipt Option at ATMs (NYSE: WFC)
How many times have you passed an ATM only to find it littered with receipts that people either drop or simply forget to remove from the machine? ATM receipts that are not left behind often end up at the bottom of a purse or shoved into a forgotten section of your wallet. For individuals using [...]
Wells Fargo Changing Wachovia Offices in Six Additional States in 2010 (NYSE: WMT)
Wells Fargo announced that Wachovia bank branches in six more states will be changed over to the Wells Fargo name this year. According to company social media program manager Doug Caldwell via the Wells Fargo-Wachovia blog, Texas and Kansas can expect to see the banks name be changed to Wells Fargo in July. Alabama, Mississippi [...]
Bank of America (NYSE: BAC) Balks at Medical Pot Backing
Bank of America (NYSE:BAC) and Wells Fargo (NYSE:WFC) have been continually denying their services to medical marijuana dispensaries in order to protect themselves from prosecution by the federal government. The country has long history of failed drug policies and now that there is a turning around, the situation has been confusing banks. The Department of [...]
Wells Fargo (NYSE: WFC) Announces Student Loans for Parents
The Wells Fargo Company (NYSE:WFC) has announced a new loan available to help pay some of a college students expenses. Many parents are seeing a rising gap between the cost of college and the amount the federal government offers to pay in student loans or grants. To help with this ever-increasing financial burden, Wells Fargo [...]
Wells Fargo (NYSE: WFC) Takes $7 Million to Charlotte’s PGA Tour
If any company were to spend millions of dollars on an event partnership, how many of those companies would be happy to sit in the background and hope no one mentioned their name through the course of the event? That’s just what Wells Fargo is hoping for during the PGA stop at Charlotte. This year’s [...]
Wells Fargo (NYSE: WFC) Offering Short-term, High-Interest Loans Similar to Payday Loans
For a fee of about $10 per $100 borrowed, customers of banks like Wells Fargo (NYSE: WFC) and U.S. Bank can get an advance on their paycheck. This fee translates the same as an annual percentage rate of 120% or more – if repaid in under a month according to the Center for Responsible Lending. [...]
Wachovia Name Being Phased Out By Wells Fargo (NYSE: WFC)
It may take some time but the Wachovia name will soon be gone. Wells Fargo (NYSE: WFC) took over Wachovia Bank in December 2008 and the move to phase out the name is going forward. Evidence is cropping up around the country where Wachovia signs on buildings are being replaced by Wells Fargo signs. This [...]
No Taxes for Bank of America ((NYSE: BAC) and Wells Fargo (NYSE:WFC)
Unlike most American’s and American businesses, it is expected that neither Bank of American (NYSE: BAC) or Wells Fargo (NYSE: WFC) will have to pay up to Uncle Sam for last year’s federal income taxes. Even though the bank’s stand at number one and number 4 in the country, experts say the situation is not [...]
Citigroup (NYSE: C), Bank of America (NYSE: BAC), Wells Fargo (NYSE: WFC) and JPMorgan Chase (NYSE: JPM) Join the Obama Administration to Reduce Second Mortgage Balances
The Obama Administration has announced a plan last Friday that will finally begin reducing the amount troubled borrowers owe on their home mortgage loans. This plan will allow people who are underwater on their mortgages to get a new mortgage backed by the Federal Housing Administration. Loans backed by the government agency insure the loans [...]
Wells Fargo Falling Behind In Make Home Affordable Program (NYSE: WFC)
As a result of the recession and a slowly recovering economy, the Make Home Affordable Program was initiated by the Obama administration. Mortgage lenders who participate in the program offer an alternative to foreclosure for homeowners who qualify for a loan modification. Despite the original intention of helping homeowners stay in their primary residence, many [...]
Forget Citigroup – Wachovia Acquired by Wells Fargo
Wachovia Bank customers may not know how close they came to not having a banking institution. Last week, Wachovia Bank was running but with strong concerns that the bank would not be open for this week. Before any deals were being worked out, Wachovia did not have a source of liquidity and under those circumstances, [...]
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