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Wells Fargo is a financial services firm headquartered in San Francisco although its central offices are located everywhere in the country. It's currently the world’s largest banking institution in terms of market capitalization, and it's also ranked as the fourth largest bank in the USA regarding its total assets.
The bank was founded 166 years ago (March 1852) by William Fargo and Henry wells, although it established its footprints in 2008 after acquiring the Wachovia bank. Since then, it has managed to accumulate $3.2 billion deposits.
Apart from the USA, the financial institution offers its banking and investment services to different cities and countries in the world. It has offices in Dubai, Tokyo, London, Hongkong, and Toronto. They also have operating back offices in the Philippines and India with more than 3000 employers.
This financial institution delineates three primary business segments according to its report results. Its operating segments include:
Wells Fargo nearby has acquired many financial institutions and companies, a move which has made it remain at the op. among is acquired firms include the Crocker national corporation. Personal trust business of Bank of America, Barclays Bank of California, first interstate Bancorp, the national bank of Alaska's, placer sierra bank, Wachovia corporation, and much more.
The closest Wells Fargo operates 12 different museums which feature a vast collection of baskets, ivory carvings, baskets gold nuggets, historic bank artifacts, telegraph equipment, and much more. It has a total number of 12 museums with the main ones being the nearest Wells Fargo history museum and the Alaska heritage museum.
The bank has always been at the forefront when it comes to conserving the environment. In 2007, the financial institution was ranked as the best among all banks and insurance firms in the inaugural green rankings. It has also managed to offer $6 billion to finance environmentally beneficial business opportunities which include utility-scale wind projects. It has also participated in other initiatives that mobilize people to take care of the environment.
Wells Fargo has not been smoothly operating without some controversies. In 1981, the financial institution was involved in a fund embezzlement scandal which was perceived as one of the largest embezzlements in history.
In 2007, Wells Fargo Lisa Madigan, the then Illinois general secretary filed a suit against the bank with the claims that the institution was charging high fees on its subprime loans. The bank has also been accused of avoiding taxes, violating the New York credit card laws, excess overdraft fees, discontent among the female workers, and much more.
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