Knowra Wells Fargo Wells Fargo Wells Fargo is an American financial-services company founded in 1852 as a banking and express business. It is one of the largest banks in the United States.
Henry Wells : Henry Wells was an American businessman who co-founded Wells Fargo and American Express. He helped establish the company’s original express and banking business.
Commercial bank : A commercial bank accepts deposits and provides loans and payment services to individuals and businesses. Wells Fargo’s core business operates through this broad banking model.
Wells Fargo account fraud scandal : The Wells Fargo account fraud scandal involved employees opening millions of unauthorized customer accounts, made public in 2016. The scandal exposed sales practices that produced accounts without customers’ consent.
JPMorgan Chase : JPMorgan Chase is an American financial-services company and the largest United States bank by assets. It is Wells Fargo’s closest peer in nationwide banking scale and breadth.
William Fargo : William Fargo was an American businessman who co-founded Wells Fargo and American Express. His name and leadership helped shape the company from its 1852 founding.
Retail banking : Retail banking provides financial products and services to individual consumers. Consumer deposits, cards, mortgages, and personal loans make up a major part of Wells Fargo.
Consumer Financial Protection Bureau : The Consumer Financial Protection Bureau is a United States agency that enforces federal consumer financial-protection laws. The bureau has investigated and penalized Wells Fargo for consumer-finance violations.
Bank of America : Bank of America is an American financial-services company with major consumer, commercial, and investment-banking operations. Its nationwide consumer-banking network offers a direct comparison with Wells Fargo’s.
American Express : American Express is an American financial-services company founded in 1850 as an express mail business. Wells and Fargo helped found this earlier express company before launching Wells Fargo.
Commercial banking : Commercial banking provides financial services to businesses, governments, and institutions. Wells Fargo serves organizations with lending, treasury, and payment services.
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