Wachovia

Sorry, No More Free Checking Accounts At This Bank

The Huffington Post | Catherine New | Posted 05.21.2012

Read More: Video, Free Checking, Checking Account, Debit Card, Bank Fees, Wells Fargo, Prepaid Cards, Bank Account, Wachovia, Money News

Free checking at Wells Fargo is officially over. Effective August 7, all Essential Checking customers will pay a $7 monthly service fee. Until rec...

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Fewer Defendants Would Deny Guilt Under New SEC Policy

HuffingtonPost.com | Ben Hallman | Posted 01.07.2012

Read More: Sec Settlement, Sec Settlement Policy, Jed Rakoff, Citigroup Settlement, Sec, Judge Rakoff, Securities and Exchange Commission, Wachovia, Judge Jed Rakoff, Business News

In a change of policy that comes after more than two years of public and embarrassing scoldings by a federal judge, the Securities and Exchange Commis...

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Small Businesses To Super Committee: Tax Large Corporations

HuffingtonPost.com | Tyler Kingkade | Posted 01.04.2012

Read More: General Electric, Main Street Alliance, Small Business, Verizon, Tax Repatriation, Ronald Reagan, Business for Shared Prosperity, Wells Fargo, Tax Rate, Citizens for Tax Justice, Institute on Taxation and Economic Policy, Super Committee, Corporate Income Tax, Wachovia, Carl Levin, American Sustainable Business Council, Video, Politics News

WASHINGTON -- Outraged by a new report about America's largest corporations dodging their taxes, small business owners are orchestrating a new campaig...

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Wells Fargo Settles Mortgage Abuse Lawsuit For $85 Million

AP | CHRISTOPHER S. RUGABER and DEREK KRAVITZ | Posted 09.19.2011

Read More: Wells Fargo Mortgage Settlement, 2008 Financial Crisis, Subprime Mortgages, Wachovia, Wells Fargo, Subprime Mortgage Crisis, Wells Fargo Wachovia, Business News

WASHINGTON — Wells Fargo & Co. has agreed to pay $85 million to settle civil charges that it falsified loan documents and pushed borrowers towar...

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Tim Geithner: Banks' Interests 'Not Aligned' With Those Of American Economy

The Huffington Post | James Sunshine | Posted 09.17.2011

Read More: Vikram Pandit, JP Morgan, Wells Fargo, Tim Geithner, Too Big to Fail, Citibank, Bank of America, 112th Congress, Jamie Dimon, Wachovia, US Treasury, Barack Obama, Video, Business News

Despite warnings from JPMorgan Chase CEO Jamie Dimon that the U.S. government may be suffocating the American economy recovery through over-regulation...

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Stapleton Moonlighting Shows Need for More Disclosure

Luis Toro | Posted 07.06.2011

Read More: Colorado, Disclosure, Walker Stapleton, Conflict of Interest, Moonlighting, Sonomawest, Wachovia, Colorado State Treasurer, Denver News

While State Treasurer Stapleton argued in favor of transparency in Washington, DC, he has been resisting it here in Colorado, refusing to disclose how much time he is spending on his second job.

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Weekly Diaspora: How Bad U.S.-Latin American Policy Fuels Unauthorized Immigration

The Media Consortium | Posted 06.21.2011

By Catherine A. Traywick, Media Consortium blogger Too often, the immigration debate in this country ignores the role U.S. foreign policy plays in fue...

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Goldman Sachs Values Assets Low, Sells High To Customers

HuffingtonPost.com | Shahien Nasiripour | Posted 06.14.2011

Read More: Goldman Sachs, SEC Goldman Sachs, Senate-Permanent-Subcommittee-on-Investigations, Wachovia, Securities and Exchange Commission, Carl Levin, Business News

As the subprime crisis was emerging on Wall Street, Goldman Sachs sold a client a slice of a complex security at a price nearly 50 percent higher than...

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SEC Under Criticism Yet Again For 'Light' Penalty Against Big Bank

HuffingtonPost.com | Shahien Nasiripour | Posted 06.07.2011

Read More: Wells Fargo, Financial Crisis, Wells Fargo Sec, Sec, Wachovia Sec, Collateralized Debt Obligations, Securities and Exchange Commission, Wachovia, Cdo, Securities Fraud, Business News

The nation's fourth-largest bank agreed to pay an $11 million fine this week to settle federal charges that it misled investors by hiding critical fac...

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Corruption, Kleptocrats, and Politics: Sudan and Burma

Matthew Smith | Posted 05.25.2011

Sadly, money laundering, corruption, and partnerships between violent regimes and willing banks is all too common, even when it's illegal.

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Blind Trust: Holder's Bogus "Operation" and Obama's Wall Street Justice

Richard (RJ) Eskow | Posted 05.25.2011

Read More: Citi, Citigroup, Peter Oszag, Bertolt Brecht, Wachovia, Barack Obama, Eric Holder, Business News

If the White House wants to restore the public's faith it needs to get serious about investigating bank fraud -- real bank fraud, the kind that brought down the economy once and could do it again.

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Wells Fargo Pays $24 Million To End Investigation Over Dubious Mortgages

Posted 05.25.2011

Read More: Wells Fargo Mortgage Settlement, Subprime Mortgages, Wells Fargo Adjustable Rate Mortgages, Wachovia, Wells Fargo, Business News

WASHINGTON (AP) -- Wells Fargo & Company is paying $24 million to end an investigation by eight states into whether lenders acquired by the bank made...

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Payday Lenders: How Wall Street's "Undercover Brothers" Exploit Minorities

Richard (RJ) Eskow | Posted 05.25.2011

Read More: Drug Money Laundering, Wall Street, Payday Lenders, Wells Fargo, Advance America, Banking Discrimination, Federal Reserve, People Who the Bible Would Condemn to an Eternity in Hellfire, Racial Prefudice, Rigged Game, Wachovia, Politics News

All the major banking institutions say the right things about race and equality. They all have diversity programs. Yet the banking industry has been using payday lenders as a "front" for preying on minority neighborhoods.

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Where Are the Prosecutions? SEC Lets Citi Execs Go Free After $40 Billion Subprime Lie

Zach Carter | Posted 05.25.2011

Read More: Citi, Sec, Wall Street Prosecutions, Financial Crisis Inquiry Commission, Bailouts, Doj, Wall Street Crisis, Money Laundering, Wachovia Drug Money, Citi Subprime, Wachovia, Financial Fraud, Bank of America, Wall Street Reform, Lehman Brothers, Angelides, Fcic, Bofa, Rubin, Subprime, Drug Money, Wachovia Money Laundering, Bonuses, Bank Bailout, Wall Street Bailout, Crittenden, Business News

What is the penalty for bankers who tell $40 billion lies? Somewhere between nothing and a rounding-error on your bonus.

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Wall Street Is Laundering Drug Money And Getting Away With It

Zach Carter | Posted 05.25.2011

Read More: Financial Fraud, Financial Crime, Tbtf, Wall Street Reform, Wells Fargo, Financial Reform, Money Laundering, Too-Big-to-Fail, Drug Money, Wachovia Money Laundering, Wall Street Fraud, Wachovia Drug Money, Wachovia, White-Collar Crime, Business News

Wachovia Bank is accused of laundering $380 billion in Mexican drug cartel money, and is expected to emerge with a slap on the wrist thanks to a government policy which protects megabanks from criminal charges.

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Our Vichy Regime Regulators

The 14th Banker | Posted 05.25.2011

Read More: Money Laundering, Vichy, Wachovia, Business News

Our regulators and prosecutors fail us when they do not bring stern cases against the corporation and both front line and senior bank officers that participate. These officers continue with reputations unsullied in their communities.

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Wells Fargo, BofA Admit Financing Mexico Drug Gangs

Bloomberg | Michael Smith | Posted 05.25.2011

Read More: Bank of America, Money Laundering, Cocaine, Banks, Mexico Drug Wars, Wells Fargo, Mexico Drug War, Bofa, Bank Secrecy Act, Mexican Drug Cartels, Hsbc, Wachovia, Business News

Wachovia, it turns out, had made a habit of helping move money for Mexican drug smugglers. Wells Fargo & Co., which bought Wachovia in 2008, has admit...

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Bloomberg Looks to Wall Street to Save NYC Economy

John Petro | Posted 05.25.2011

Read More: Treasury Department, Goldman Sachs, Wall Street, Financial Sector, Mayor Bloomberg, Financial Industry, Robert Steel, Economic Development, Wachovia, New York City, New York News

Will the new deputy mayor, with such strong ties to the financial industry, be willing or able to move New York City away from its reliance on the financial sector?

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Naming Names: Every Bank and Business That Is a Subprime Lender

Gary Rivlin | Posted 05.25.2011

How many of the country's largest, best-known banks and corporations took huge, deep gulps at the well of the poverty industry? Well, how much time do you have?

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ProPublica's (and NY Times') "Untold" Magnetar Story Creates Excuses for Wall Street and Washington

Janet Tavakoli | Posted 05.25.2011

Read More: Deutsche Bank, Aig, Goldman Sachs, Rmbs, Propublica, Calyon, Cdos, Financial Crisis, Ponzi Scheme, New York Times, Planet Money, This American Life, Wall Street Journal, Magnetar, Wachovia, Business News

Contrary to recent reports, Magnetar wasn't a previously unknown hedge fund, it did not create the synthetic CDO structure, and the magnitude of its role in the subprime crisis has been overblown.

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Wachovia To Settle Money Laundering Case For $160 MILLION

AP | CURT ANDERSON | Posted 05.25.2011

Read More: Wachovia Federal Investigation, Wachovia Settlement, Wachovia Lawsuit, Wachovia Money Laundering, Wachovia Mexico, Wachovia Settle, Wachovia, Business News

MIAMI — Banking giant Wachovia Corp. will pay $160 million to settle a federal investigation into laundering of illegal drug profits through Mex...

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Foreclosure: A Sociological Disaster

Ronald Ricker | Posted 05.25.2011

Read More: Mental Health, Middle Class Economy, TARP Money, Wells Fargo Wachovia, Middle Class, Los Angeles Neighborhood Housing Services, Foreclosure, Obama TARP, Wachovia, Obama Tarp Money, Impact News

Here's the story of a family that had no choice but to stop paying their mortgage. Though they're receiving help from a local nonprofit, it's unknown if they'll be forced out. Their story is one of millions.

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Wachovia Online Banking DOWN For Some: Login Issues Reported

Posted 05.25.2011

Read More: Wach, Wachovia Online, Wachovia Online Banking Login, Wachovia Online Banking Down, Wachovia, Wachov, Wachovia Online Banking Issues, Wachovia Online Banking, Business News

Is Wachovia Online Banking down for you? You wouldn't be alone. Widespread login issues are being reported for Wachovia Online Banking today, Tuesd...

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Henry Paulson's NYT Op-Ed: Financial Reform Needed, But Obama's Proposals Won't Work

nytimes.com | HENRY M. PAULSON Jr. | Posted 05.25.2011

Read More: Bank Regulation, Hank Paulson, Washington Mutual, Financial Reform, Aig, Banks, Henry Paulson, Obama Financial Reform, Wachovia, Volcker Rule, Business News

[T]he most recent proposal by the Obama administration -- to bar big banks from trading driven by other than customer-related activity -- would not ha...

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Bank Heist: It's Mortgages, Not Money

Dan Dorfman | Posted 05.25.2011

Read More: Mortgages, Banks, Senate, Mortgage Defaults, John Dillinger, Hedge Funds, Wachovia, Business News

This "bank heist," the brainchild of a brash hedge fund trader who used to receive seven-figure year-end bonuses, but who will soon be unemployed, centers on snaring a sharp reduction on one of his three mortgages.

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