wachovia

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The Wachovia; Corporation, based out of Charlotte, North Carolina, has been in operation since 1879 when it started out as Wachovia National Bank in Winston-Salem, North Carolina.

According to their official site, as of the end of June 2008, Wachovia had over 3,300 financial centers, 1,500 retail brokerage offices, and 5,300 ATMs nationwide. Wachovia's corporation is actually comprised of four internal divisions: Capital Management, Corporate and Investment Banking, General Bank, and Wealth Management.

The financial crisis of 2008, though, impacted Wachovia. Wells Fargo had agreed to buy the struggling institution just days after Wachovia had agreed to a similar settlement with Citigroup.

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Original Technorati articles tagged “wachovia”

  • California and Wells Fargo Push to Modify “Pick a Payment” Loans
    Pressing forward as Wells Fargo agrees to assist California home owners who are struggling with their adjustable pick a payment or option arm loans to continue loan modifications in the troubled state. $2.4 billion to aid loan modifications targeting the negative amortization loans, this comes after the giant lender agrees to keep modify loans in 8 other states.
    by freehampreport / on Dec 22, 2010

Latest blogosphere posts tagged “wachovia”
 

  • Are Wall Street Wirehouses Killing the Goose that Laid the Golden Egg?


    Investment Fraud Lawyer BlogAuthority Authority: 110
    The big four Wall Street wirehouses have lost market share since the financial crisis in part because of their role in the crisis and “customer distrust,” according to Bing Waldert, a director of Cerulli Associates Inc. (See “Wirehouse market share has shriveled since crisis,” InvestmentNews). Merrill Lynch ...
    1 week ago
  • Money reads: Half of US home equity wiped out since 2006, Fed says


    All Home Loan InfoAuthority Authority: 120
    Money reads: Half of US home equity wiped out since 2006, Fed says The nation has lost $ 7 trillion in market value since 2006, or more than half total home equity. Prices are now down 33 percent. "Declines on this scale are unprecedented since the Great Depression," the authors wrote. because home equity is [...]
    1 week ago
  • Banks Financing Mexico Gangs Admitted in Wells Fargo Deal ( Article)


    Fact over FictionAuthority Authority: 118
    Wachovia admitted it didn’t do enough to spot illicit funds in handling $378.4 billion for Mexican-currency-exchange houses from 2004 to 2007. That’s the largest violation of the Bank Secrecy Act, an anti-money-laundering law, in U.S. history -- a sum equal to one-third of Mexico’s current gross domestic product.
    1 week ago
  • Strength of Mortgage Lending Leads 20 Percent Q4 Gain by Wells Fargo


    Mortgage Net Branch OpportunitiesAuthority Authority: 133
    Wells Fargo & Company has reported a record net income of $4.1 billion for the fourth quarter 2011, compared to $3.4 billion for the fourth quarter of 2010, and $4.1 billion for the third quarter of 2011. For all of 2011, Wells Fargo reported a net income of $15.9 billion, up 28 percent from 2010′s full-year ...
    1 week ago
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    French Fry DiaryAuthority Authority: 104
    Its that time of year again, yeah, thats right, its Philadelphia Wings lacrosse season. Now lately, this is a bittersweet thing. I have been, along with The Bride, members of her family, and various friends over the years, a season ticket holder for the Wings since roughly 1990. I like lacrosse a lot, its pretty ...
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  • Opinions – 1/17/12: 4th U.S. Circuit Court of Appeals


    Exhibit A BaltimoreAuthority Authority: 137
    Admiralty LawConstructive lossBOTTOM LINE: Where plaintiffs’ yacht was damaged following an allision with an army vessel, doctrine of constructive loss applied to limit plaintiffs’ awardable damages to the market cost of the yacht, because the cost of repairing the yacht exceeded the yacht’s pre-casualty fair ...
    2 weeks ago
  • Wells Fargo Earnings Preview: Double-Digit EPS Growth Expected


    BenzingaAuthority Authority: 516
    Wells Fargo (NYSE: WFC ) is scheduled to report fourth-quarter and full-year 2011 results tomorrow morning, January 17. Of the slew of big banks reporting earnings this week, prospects for Wells Fargo seem pretty strong, as far as analysts are concerned.
    2 weeks ago
  • Skyscrapers Predict Financial Crises


    SurlyTraderAuthority Authority: 105
    It always amuses me that there are many examples of large companies falling from grace shortly after they put their company logo on a sports stadium .  Many of these companies embraced bankruptcy shortly thereafter: Enron Field (now Minute Maid Park) – 1999 – Astros (MLB) CMGI Field (now Gillette Stadium) ...
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