Wells Fargo

Wells Fargo is a global bank network based in California. They operate all across the world. Wells Fargo is the 4th largest bank in the United States. The bank was established in New York City in March of 1852. The founders of the bank system were Henry Wells and William Fargo, who had already made American Express.

Like many U.S. companies, the bank has a history of racism in its past. In 2008, Wells Fargo bought Wachovia, another bank, and took over its business. Wachovia also had a history of slavery and discrimination. 

Wells Fargo has been sued for discriminating in the loans it offers customers, like Bank of America and other global bank networks. On February 2, 2018, the US Federal Reserve Bank barred Wells Fargo from growing its nearly US$2 trillion-asset base any further, until Wells Fargo fixes its internal problems to the satisfaction of the Federal Reserve. 

In April 2018, The Wall Street Journal reported that the US Department of Labor had launched a probe into whether Wells Fargo was pushing its customers into more expensive retirement plans and into retirement funds managed by Wells Fargo itself. In May 2018, The Wall Street Journal reported that Wells Fargo's business banking group had improperly altered documents about business clients in 2017 and early 2018.

 References 

Category:1852 establishments in California
Category:1852 establishments in New York (state)
Category:Banks of the United States
Category:Companies based in San Francisco
Category:Online brokerages