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Wells Fargo & Company

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Corporate Statistics
Wells Fargo & Company logo
Worker Rights Human Rights Political Influence Environmental Business Ethics

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Wells Fargo & Company

420 Montgomery St. San Francisco CA USA
94163
866-878-5865
http://www.wellsfargo.com/

Type:

Public

This stagecoach likely makes a stop near you. One of the US's top banks, Wells Fargo operates about 3,200 bank branches in nearly 25 western and midwestern states, and almost 3,000 mortgage and consumer finance offices nationwide. Services include consumer and business banking, investment management, insurance, and venture capital investment. A top residential mortgage lender in the US, Wells Fargo is also one of the largest mortgage servicers. The company is a banking industry leader in insurance brokerage through its Wells Fargo Insurance Services subsidiary (formerly Acordia), as well as in mutual funds, online banking, and online brokerage services.

Contents


[edit] Criticism

[edit] Business Ethics

Baltimore Is Suing Bank Over Foreclosure Crisis Baltimore’s mayor and City Council are suing Wells Fargo Bank, contending that its lending practices discriminated against black borrowers and led to a wave of foreclosures that has reduced city tax revenues and increased its costs.

Wells Fargo Targeted over Charges of Predatory Lending Groups alleging that one of the nationメs wealthiest financial firms engages in discriminatory lending practices staged a picket at the companyメs headquarters yesterday. The groups are in a long-running campaign to force the firm to admit to and provide compensation for what critics term "predatory" lending. The protest at Wells Fargo's San Francisco offices garnered little media attention, but organizers considered it an important step toward wringing economic equity from the banking giant. Yesterday's demonstration was aimed at highlighting allegations that Wells Fargo routinely adds surprise charges to mortgages taken out by minorities, with many rates rising well above 10 percent. As of last week, the average mortgage rate in the nation's largest cities hovered around 6.5 percent, according to the Associated Press.

[edit] Investments

Wells Fargo is one of the largest single stockholders in the GEO Group The GEO group operates prison facilities in Australia, The UK, South Africa, the US and Guantanamo Bay and Cuba. The GEO Group has been criticized for Failing to Vet Guards, sexual abuse against immigrant detainees and other abuses. The Seattle University School of Law. 65-page report, "Voices From Detention," examined the treatment of detainees at the Northwest Detention Center in Tacoma operated by the GEO Group. They cited physical and physiological abuse. [1]

[edit] Praise

Business Ethics 100 Best Corporate Citizens 2007 #46 on Business Ethics 100 Best Corporate Citizens for 2007

[edit] Brands & Subsidiaries

  • Crocker National Bank
  • First Interstate Bancorp
  • Norwest Corporation
  • Wachovia Corporation
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