Wells Fargo Unit To Pay $1.9M in ARS Settlement

Ackerman, Andrew
November 2009
American Banker;11/19/2009, Vol. 174 Issue 209, p16
Trade Publication
The article reports that the North American Securities Administrators Association, representing U.S. state securities regulators, have reached a settlement in its civil complaint against Wells Fargo & Co. over the bank's marketing of so-called auction-rate securities. Under the terms of the agreement, Wells Fargo will pay $1.9 million in penalties and buy back about $1.4 billion of the illiquid securities.


Related Articles

  • States Reach Settlement With Wells Fargo Over ARS. Ackerman, Andrew // Bond Buyer;11/19/2009, Vol. 370 Issue 33220, p1 

    The article reports on the settlement reached by the Washington State Department of Financial Institutions Wells Fargo & Co. in Washington in November 2009. It states that the firm has agreed to pay 1.9 million dollars in penalties and buy back about 1.4 billion dollars of illiquid auction-rate...

  • Wells Fargo Agrees to Settle Securities Lending Suit for $62.5 Million. Safane, Jake // Global Custodian News;2014, p166 

    Wells Fargo has agreed to pay $62.5 million to settle a class action lawsuit related to its securities lending program, brought in Minnesota by The City of Farmington Hills Employees Retirement System and representing 93 parties in total.

  • Wells Fargo Finalizes Securities Lending Lawsuit in Minnesota. Safane, Jake // Global Custodian News;2014, p1 

    The article reports that the U.S. District Court of Minnesota approved the class action lawsuit settlement against Wells Fargo in relation to the bank's securities lending program. Topics discussed include the background of the case filed against Wells Fargo by the city of Farmington Hills...

  • Another Bad Bet. Colter, Allison Bishey // American Banker;1/29/2009, Vol. 174 Issue 19, p9 

    The article discusses a lawsuit filed by one of Ellington Management Group's hedge funds, Ellington Credit Risk Ltd., against Wells Fargo & Co (WFB). The lawsuit states that WFB failed to make three required interest payments to the hedge fund. Also discussed is the risk involved with net...

  • SEC Says Wells Ignored MBS Subpoenas. Stewart, Jackie; Berry, Kate // American Banker;3/26/2012, Vol. 117 Issue 46, p11 

    The article mentions the U.S. Securities and Exchange Commission filed a subpoena enforcement action that will force Wells Fargo company to produce documents relating to an investigation of the bank's mortgage-backed securities.

  • Wells Fargo pays to settle Minneapolis race bias suit.  // HR Specialist: Minnesota Employment Law;Dec2014, Vol. 7 Issue 12, p1 

    The article reports on the settlement of banking firm Wells Fargo & Co. over a race and national origin discrimination case in Minneapolis filed by the U.S. Equal Employment Opportunity Commission (EEOC).

  • Wells to Pay $100M Settlement to Citi. Horwitz, Jeff // American Banker;11/22/2010, Vol. 175 Issue 179, p12 

    The article reports that the bank Wells Fargo & Co. has agreed to pay Citigroup Inc. $100 million in a settlement of a civil complaint filed by the latter company over Wells' acquisition of Wachovia Corp.

  • Wells Settles Calif. Paycheck Fee Suit. Cole, Jim // American Banker;9/7/2005, Vol. 170 Issue 172, p20 

    Reports that Wells Fargo & Co. has settled a lawsuit brought in 2004 over fees it charges noncustomers to cash paychecks in its branches. Terms of the settlement agreement, which will include an offer from Wells of free direct deposit for one year to small-business customers; Plans of Wells to...

  • News Roundup.  // Pensions & Investments;8/20/2012, Vol. 40 Issue 17, p25 

    The article presents several news briefs related to pensions and investments as of August 20, 2012. Topics include a trial court ruling on the establishment of a defined contribution plan for new employees of the City of San Diego, California, a settlement between Wells Fargo Brokerage and the...


Read the Article


Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics