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NEWS
September 20, 2011
As mentioned in a recent op-ed article in The Sun, a host of bank branches and offices were renamed Wells Fargo (formerly Wachovia) over the weekend ("Wells Fargo not a good neighbor in Baltimore," Sept. 16). The op-ed did not mention that before and after the merger several years ago, Wells Fargo has worked time and again to support Baltimore and other communities it serves. Several years ago, United Way of Central Maryland solicited area businesses to "makeover" the Robert C. Marshall Recreation Center on Pennsylvania Avenue in Baltimore.
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NEWS
By Justin Fenton, The Baltimore Sun | March 28, 2014
The FBI Violent Crimes Task Force is looking for a man who they believe has robbed three area Wells Fargo banks in the span of five days. The FBI said in a news release that the most recent robbery occurred Friday afternoon at the Wells Fargo in the 1700 block of E. Northern Parkway.  Before that, authorities believe he held up a Wells Fargo in the 800 block of N. Rolling Road in Catonsville on Monday, and a branch in the 6300 block of York...
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NEWS
September 27, 2011
I received the Sept. 25 edition of The Sun and was disgusted to see a full-length ad for Wells Fargo on the front page. While it's bad enough to turn the front page over to an advertiser, it's even worse to allow a corporation deeply implicated in our community's foreclosure crisis such a prominent forum to whitewash its image. Adding the words "advertising pullout" in small print doesn't make it OK. Rather than selling the front page to Wells Fargo, a responsible newspaper would be reporting on its activities in the home loan industry.
BUSINESS
By Jamie Smith Hopkins, The Baltimore Sun | February 19, 2013
Maryland is one of the states most "vulnerable" to sequestration cuts, given its dependence on federal spending, Wells Fargo said Monday. The financial services company's report, which underscores earlier warnings from economists, says non-defense spending makes up 10 percent of Maryland's gross domestic product — tied with Virginia and D.C. for the biggest share nationwide. Defense spending is nearly as large, at 9.8 percent, ranking the state third — and again tied with Virginia and D.C. — behind Hawaii and Alaska.
BUSINESS
Jamie Smith Hopkins | March 20, 2012
Maryland homeowner advocates met with Wells Fargo Monday to urge officials not to wait to make changes called for by the national robo-signing settlement , including reducing borrowers' principal. Thoug the settlement was announced in early February, it was just filed in court and must be approved by a judge before it could go into effect . The Maryland Consumer Rights Coalition , which helped organize the meeting, brought a petition signed by about 2,800 people "calling on the banks to do more for Maryland families.
BUSINESS
By Jamie Smith Hopkins, The Baltimore Sun | May 4, 2012
Wells Fargo borrowers potentially eligible for mortgage rate reductions under the national settlement with big banks are being notified this month, Maryland's attorney general said Friday. The lender is mailing out rate-reduction offers in waves, meaning that some borrowers already might have received their letter, said the office of Attorney General Douglas F. Gansler. In a statement, Gansler urged homeowners to "respond as soon as possible. " Those who don't get an offer in the mail by the end of May but think they're eligible should call the bank at 800-288-3212, he added.
BUSINESS
By Steve Kilar and The Baltimore Sun | January 7, 2013
Wells Fargo is offering eligible homebuyers in Baltimore a $15,000 down-payment assistance loan that is fully forgivable if the purchaser lives in the home for five years - part of a legal settlement over alleged discriminatory lending practices by the bank. “2013 promises to be the best year ever to buy a home in Baltimore city,” said Mayor Stephanie Rawlings-Blake at a new conference Monday morning in City Hall to announce the initiative. The new $4.5 million program, a large enough pot of money to help individuals purchase 300 homes, adds to an already robust set of incentives to buy a home in Baltimore.
NEWS
By Robbie Whelan | April 8, 2010
Lawyers for the city of Baltimore have prepared a new complaint in their lawsuit against Wells Fargo, which contends that the bank steered black borrowers into subprime loans, then foreclosed on hundreds of city houses, leading to blight and higher public safety costs. The city suffered a setback in January when U.S. District Judge J. Frederick Motz dismissed the suit. Motz said the connection between the Wells Fargo foreclosures and urban problems was "implausible when considered against the background of other factors leading to the deterioration of the inner city," and called the suit overly broad.
BUSINESS
By Hanah Cho, The Baltimore Sun | May 16, 2011
Wachovia's 82 branches in Maryland will convert to Wells Fargo's platform and name in September, representing the last wave of their merger integration, the company announced Monday. The conversion of Wachovia's retail banking operations comes more than two years after Wells Fargo completed its purchase of Wachovia Corp. during the financial crisis. "It' been very nice because it allows us to ensure that we have minimal impact," said Andy Bertamini, Maryland regional president for Wachovia/Wells Fargo.
BUSINESS
Eileen AMbrose | August 28, 2012
The Des Moines Register reports that a 68-year-old Vietnam veteran was fired from his Wells Fargo Home Mortgage job because 49 years ago he put a cardboard dime slug into a laundromat's washing machine. The paper said federal regulations now prohibit banks from hiring people convicted of certain crimes. This was supposed to root out bad actors at the top, but banks have been firing low-level workers. According to the Register, Iowa's Republican Senator Chuck Grassley released a statement that said in part: “On the face of it, these situations seem unfair.”  Ya think?
BUSINESS
By Steve Kilar and The Baltimore Sun | January 7, 2013
Wells Fargo is offering eligible homebuyers in Baltimore a $15,000 down-payment assistance loan that is fully forgivable if the purchaser lives in the home for five years - part of a legal settlement over alleged discriminatory lending practices by the bank. “2013 promises to be the best year ever to buy a home in Baltimore city,” said Mayor Stephanie Rawlings-Blake at a new conference Monday morning in City Hall to announce the initiative. The new $4.5 million program, a large enough pot of money to help individuals purchase 300 homes, adds to an already robust set of incentives to buy a home in Baltimore.
BUSINESS
Eileen AMbrose | August 28, 2012
The Des Moines Register reports that a 68-year-old Vietnam veteran was fired from his Wells Fargo Home Mortgage job because 49 years ago he put a cardboard dime slug into a laundromat's washing machine. The paper said federal regulations now prohibit banks from hiring people convicted of certain crimes. This was supposed to root out bad actors at the top, but banks have been firing low-level workers. According to the Register, Iowa's Republican Senator Chuck Grassley released a statement that said in part: “On the face of it, these situations seem unfair.”  Ya think?
BUSINESS
Jamie Smith Hopkins | August 28, 2012
Wells Fargo is inviting borrowers struggling with their mortgage payments to an assistance event at the Baltimore Convention Center next week. The Sept. 6 workshop, from 9 a.m. to 7 p.m., will be held in Hall D. The convention center is at 1 W. Pratt St. Homeowners whose mortgages are owned or serviced by Wells Fargo can attend the free event. The company, which suggests signing up by Sept. 4 , says borrowers will be able to sit down with "home preservation specialists" to go over options.
NEWS
July 15, 2012
Baltimore's effort to recover millions of dollars in lost revenue stemming from the wave of home foreclosures that followed the collapse of the housing market in 2007 was vindicated Thursday when Wells Fargo Bank, the nation's largest mortgage lender, agreed to pay at least $175 million to settle claims that it discriminated against African-American and Hispanic borrowers by steering them into high-cost, subprime mortgage loans. Baltimore will receive $7.5 million, and seven other communities - Chicago, Cleveland, Los Angeles, New York, Philadelphia, the San Francisco Bay Area and Washington - will benefit as well The Justice Department, which announced the agreement, said it is the second largest fair-lending settlement in its history.
NEWS
By Luke Broadwater, The Baltimore Sun | July 12, 2012
About 1,000 Baltimore-area residents are expected to receive thousands of dollars each under a landmark $175 million settlement between the U.S. Department of Justice and Wells Fargo over accusations of discriminatory lending practices. Under the terms of the deal announced Thursday, Wells Fargo also will provide $7.5 million to the city of Baltimore, which federal officials credited with first raising issues of discrimination related to bank's subprime mortgages. The city alleged Wells Fargo steered minorities into subprime loans, gave them less favorable rates than white borrowers and foreclosed on hundreds of Baltimore homes, creating blight and higher public safety costs.
BUSINESS
By Jamie Smith Hopkins, The Baltimore Sun | May 4, 2012
Wells Fargo borrowers potentially eligible for mortgage rate reductions under the national settlement with big banks are being notified this month, Maryland's attorney general said Friday. The lender is mailing out rate-reduction offers in waves, meaning that some borrowers already might have received their letter, said the office of Attorney General Douglas F. Gansler. In a statement, Gansler urged homeowners to "respond as soon as possible. " Those who don't get an offer in the mail by the end of May but think they're eligible should call the bank at 800-288-3212, he added.
BUSINESS
Jamie Smith Hopkins | April 11, 2012
The National Fair Housing Alliance said Tuesday that it has filed a federal housing discrimination complaint   against Wells Fargo, alleging that the bank is doing a better job maintaining foreclosed homes in white neighborhoods than foreclosures in minority neighborhoods. The alliance said last week that it scored the condition of foreclosed homes in nine regions , including Baltimore, and found disparities based on the racial makeup of neighborhoods. (The Baltimore metro area was an outlier in the alliance's report: Though staffers found differences by neighborhood, the overall scores were basically equally lousy.)
NEWS
April 24, 2012
The Wells Fargo bank in the unit block of West Chesapeake Avenue, Towson, was robbed at 3:30 p.m., April 20. According to police reports. Police said a man passed note to teller demanding money and stating that he had a gun. The man was given money, then fled out back door of the bank. In addition to this incident, the following are compiled from police reports from the Towson and Cockeysville precincts. Our policy is to include descriptions when there is enough information to make identification possible.
BUSINESS
Jamie Smith Hopkins | April 11, 2012
The National Fair Housing Alliance said Tuesday that it has filed a federal housing discrimination complaint   against Wells Fargo, alleging that the bank is doing a better job maintaining foreclosed homes in white neighborhoods than foreclosures in minority neighborhoods. The alliance said last week that it scored the condition of foreclosed homes in nine regions , including Baltimore, and found disparities based on the racial makeup of neighborhoods. (The Baltimore metro area was an outlier in the alliance's report: Though staffers found differences by neighborhood, the overall scores were basically equally lousy.)
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