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November 25, 2015 4:02 PM ET


Company Overview of Wells Fargo Bank, National Association

Company Overview

Wells Fargo Bank, National Association provides personal, small business, and commercial banking services. It offers personal accounts and services, such as checking accounts, savings accounts and CDs, debit and prepaid cards, and credit cards; foreign exchange, online banking, online bill pay, transfer, mobile banking, and global remittance services; identity theft protection plans; mortgage loans, home equity lines and loans, personal lines and loans, student loans, and auto loans; auto, specialty vehicle, life, homeowners', renters', and umbrella liability insurance solutions; and wealth management and investing solutions. The company provides small business accounts and services, includi...

101 North Phillips Avenue

One Wachovia Center

Sioux Falls, SD 57104

United States

Founded in 1852





Key Executives for Wells Fargo Bank, National Association

Chief Executive Officer and Chairman
Age: 61
Chief Financial Officer
Age: 49
Senior Vice President of Eugene Operations and Retail Bank Area President
President of Northern and Central California Region and Executive Vice President
Market President of The Fredericksburg, Culpeper, and Warrenton
Compensation as of Fiscal Year 2015.

Wells Fargo Bank, National Association Key Developments

U.S. Department of Justice's U.S. Trustee Program Enters into National Settlement Agreement with Wells Fargo Bank N.A

The U.S. Department of Justice's U.S. Trustee Program has entered into a national settlement agreement with Wells Fargo Bank N.A. requiring Wells Fargo to pay $81.6 million in remediation for its repeated failure to provide homeowners with legally required notices, thereby denying homeowners the opportunity to challenge the accuracy of mortgage payment increases. These failures violated federal bankruptcy rules that took effect in December 2011 and imposed more detailed disclosure requirements to ensure proper accounting of fees and charges on homeowners in bankruptcy. Wells Fargo agrees to pay a total of $81.6 million to homeowners who were in bankruptcy between December 1, 2011, and March 31, 2015, and who were affected by Wells Fargo's failure to timely file PCNs and escrow statements. In addition to the monetary remediation, Wells Fargo will make changes to internal procedures to prevent recurrence of the violations. These changes include improvements to its computer platform, improvements to employee training and oversight and implementation of quality control processes to ensure the accuracy and timeliness of PCNs and escrow statements. The settlement resolves any actions that could be brought by the U.S. Trustee Program for the covered conduct, but does not limit the rights of any homeowner or other third party to take action against Wells Fargo.

Wells Fargo Bank Presents at BVCA Summit 2015, Oct-08-2015 02:00 PM

Wells Fargo Bank Presents at BVCA Summit 2015, Oct-08-2015 02:00 PM. Venue: London, United Kingdom. Speakers: Thomas Rapp, Director.

Missouri Jury Receives $77 Million to Woman in Lawsuit Claiming Wells Fargo Bank Mismanaged Family Trusts

A Missouri jury has awarded a woman $77 million in damages in a lawsuit alleging Wells Fargo Bank mismanaged her family trusts, costing her tens of millions of dollars. Morriss sued Wells Fargo in early 2012, alleging the bank breached its fiduciary duty by failing to fully disclose financial transactions in two family trusts that lost millions of dollars. Morriss was a beneficiary and co-trustee on both trusts with her son, venture capitalist B. Douglas Morris. That man, who is serving five years in federal prison for tax evasion, had helped raise through his Clayton-based venture and other companies tens of millions of dollars in private equity and venture capital funds until the companies he led filed for bankruptcy in January 2012, listing more than $35 million in debts. Barbara Morriss, the widow of a former Boatmen's Trust Co. chairman, has contended that she first learned her accounts were drained in late 2011, when her credit card was declined at Neiman Marcus. Her lawsuit alleged that funds in both trusts were wrongfully pledged as collateral for risky business ventures - something she became aware of after the U.S. Securities and Exchange Commission accused her son of defrauding investors in January 2012.

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