Wachovia's

Wachovia's conduct took place from at least 1997 to 2005, the agency said, before it was acquired by Wells Fargo during the heat of the 2008 financial crisis.

Wells Settles Wachovia Bid-Rig Case Brent Kendall 2011

Yet this past March, the federal government formally dropped all charges against the bank, per a settle agreement reached the previous year, and despite Wachovia's indirect role in financing a five-year drug war that has taken countless lives and continues to drive unauthorized immigration to the United States.

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Specifically, the suit focused on Wachovia's exposure to pick-a-pay loans, which the bank's offering materials referred to as having "pristine credit quality."

Wells Fargo Agrees to Settle Wachovia Suit David Benoit 2011

Stumpf and Atkins, boosted revenue and profit but added risk, particularly from Wachovia's troubled portfolio of option adjustable-rate mortgages.

Wells Fargo CEO Total '10 Pay Is Valued at $19 Million Matthias Rieker 2011

But Wells Fargo completed the integration of its wealth-management business in January, and will complete the integration of Wachovia's retail banking business later this year.

Wells CEO Hints at Brokerage Acquisition Matthias Rieker 2011

"Wachovia's offering materials materially and repeatedly misstated and failed to disclose the true nature and quality of Wachovia's mortgage loan portfolio, and materially misled investors as to the company's exposure to tens of billions of dollars of losses on mortgage-related assets," the complaint alleged.

Wells Fargo Agrees to Settle Wachovia Suit David Benoit 2011

Wachovia's auditor at the time, KPMG LLP, will pay an additional $37 million to settle the suit, bringing the total settlement to $627 million.

Wells Fargo Agrees to Settle Wachovia Suit David Benoit 2011

Wells retail banking executive Laura Schulte says Wells aims to combine Wachovia's "friendly welcoming experience" with Wells' selling strength.

In Tribute to Wells, Banks Try the Hard Sell Randall Smith 2011

Wachovia's mortgage problems overwhelmed the bank in September 2008, leading to Wells Fargo's buyout offer.

Wells Fargo Agrees to Settle Wachovia Suit David Benoit 2011

With that deadline coming up, Wachovia's new owner, Wells Fargo, sold the junior debt to Credit Suisse Group and Morgan Stanley .

Wells Fargo Uses Novel Approach to Hybrids Kellie Geressy-Nilsen 2011