Wisconsin Banking Update
Providing banking news in Wisconsin that Wisconsin Bankers can use. Keep on top of all the banking issues that are affecting Wisconsin in one place. If you would like to receive these updates by email please subscribe by entering your email address on the right. There is no cost and no obligation.
-
Wells Fargo Could Be Nation’s Largest
Posted on February 21st, 2011 No commentsWells Fargo, which holds the sixth-largest deposit market share in the Milwaukee area, now serves one-third of the nation’s households, 10 percent of its small businesses and 70 percent of the Fortune 500 – all reasons why it could someday be the country’s largest bank, according to a Business Journal article. -
Wells Fargo CFO’s Retirement Surprises Some
Posted on February 8th, 2011 No commentsWells Fargo & Co.’s chief financial officer, Howard Atkins, 60, will retire after taking nearly a half year of unpaid leave and will be replaced by the bank’s administrative chief, Timothy Sloan, 50. The unpaid leave begins immediately, which raised questions about the CFO’s departure, WTAQ-FM reported. -
B of A to Pay $410M in Fee Lawsuit
Posted on February 5th, 2011 No commentsBank of America has agreed to pay $410 million to settle a federal lawsuit alleging the bank charged excessive overdraft fees. The suit is one of several filed against banks – including Wells Fargo and Citibank – from plaintiffs in 14 states, according to an AP story on the Wisconsin State Journal web site. -
Florida Woman Charged With ID Theft
Posted on January 25th, 2011 No commentsA Florida woman who allegedly drove around to Milwaukee-area Well Fargo branches withdrawing money from another person’s account has been charged with two felony counts of ID theft. She was arrested after attempting to withdraw money using a stolen ID, which a teller recognized as belonging to a customer who had reported that her purse had been stolen. The woman and her accomplices had already withdrawn $7,000 from the customer’s account, WauwatosaNOW.com reported. -
Milwaukee to Receive Wells Housing Grant
Posted on October 25th, 2010 No commentsThe Wells Fargo’s Housing Foundation announced grants totaling $5 million to nonprofit housing organizations in 34 cities, including Milwaukee, as part of the company’s effort to increase the availability of affordable housing. Read the Small Business Times article. -
Big Banks Address Milwaukee Foreclosures
Posted on October 24th, 2010 No commentsRepresentatives of five of the nation’s leading banks told a crowd of 1,100 that they would work with the advocacy group Common Ground to deal with Milwaukee’s foreclosure crisis, including maintaining vacant land and boarded-up properties. Representatives from U.S. Bank, Wells Fargo, Bank of America, JPMorgan Chase & Co. and Deutsche Bank were at the meeting. Read more in the Milwaukee Journal Sentinel. -
Chase, B of A, Wells Lead in Foreclosures
Posted on October 13th, 2010 No commentsThe nation’s Big Three of banking have the most homes in foreclosure, according to research firm SNL Financial. J.P. Morgan Chase has $19.5 billion, or 7.5 percent of its one-to-four family mortgages, in foreclosure. Bank of America has $18.7 billion, or 4.39 percent, and Wells Fargo has $17.5 billion, or 4.74 percent. Chase and Wells Fargo have sizable deposit market shares in the Milwaukee area. Read the article in the Business Journal of Milwaukee. -
No Foreclosure Moratorium for Wells Fargo
Posted on October 8th, 2010 No commentsWells Fargo has no plans to adopt a foreclosure moratorium despite Bank of America’s and other banks’ decisions to halt all foreclosures, the Business Journal of Milwaukee reported.
-
Wells Fargo Drops Gift Card Fees
Posted on September 9th, 2010 No commentsWells Fargo & Co. has eliminated monthly service fees and the expiration of funds loaded on Wells and Wachovia Visa gift cards, the Business Journal of Milwaukee reported.
-
Wells Doubles Mexico Remittance Offices
Posted on August 26th, 2010 No commentsWells Fargo & Co. said it has nearly doubled its remittance network in Mexico, giving it more than 9,000 payout locations across the border and stepping up its competition with Western Union Co. for the cross-border cash transfer business, according to the Business Journal of Milwaukee.