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Ban on sharia law In The United States.All References are available as a footnote for, this is a copy from the superior court. Last updated 2016. > A ban on sharia law is legislation which prohibits the application of the or implementation of Islamic law (sharia) in courts in any civil (non-religious) jurisdiction In the United States,1 Ban Of Sharia LawThe United States have "banned Sharia law", or passed some kind of ballot measure that "prohibits the states courts from considering foreign, international or religious law." As of 2014 these include Alabama, Arizona, Kansas, Louisiana, North Carolina, South Dakota and Tennessee.[1] In Canada, Sharia law is explicitly banned in Quebec, upheld by a unanimous vote against it in 2005 by the National Assembly,[2] while the province of Ontario allows family law disputes to be arbitrated only under Ontario law.[3]United States.## Constitutional prohibitions and accommodationsBecause of the Establishment Clause of the United States Constitution, no religious tradition can be established as the basis of laws that apply to everyone, including any form of sharia, Christian canon law, Jewish halakha, or rules of dharma from Eastern religions. Laws must be passed in a secular fashion, not by religious authorities. The Free Exercise Clause allows residents to practice any religion or no religion, and there is often controversy about separation of church and state and the balance between these two clauses when the government does or does not accommodate any particular religious practice (for example blue laws that require stores to be closed on Sunday, the Christian holy day).## Direct consultation of any religious law, including any form of sharia, is relatively rare in U.S. jurisprudence, and is generally limited to circumstances where the government is accommodating the religious belief of a specific person. This occurs mainly in matters of arbitration and family law. For example, the law may allow parties to submit a dispute for binding arbitration to a mutually agreed- upon religious authority; mandatory arbitration by a specified or mutually-agreed arbitrator is also a common clause in commercial and labor union contracts. Couples with the same religious beliefs may wish to construct marriage contracts and conduct divorces in concordance with those beliefs, and people may also wish to arrange wills and other financial matters in accordance with their own religious principles. If presented as evidence, devotion to peaceful religious principles, along with many other aspects of personality, is commonly considered when judging the character of a person before the law, for example during sentencing or a parole hearing.Despite the Free Exercise Clause, the 1878 Supreme Court decision in Reynolds v. United States (which concerned the conflict of the Mormon practice of polygamy with anti-bigamy laws) affirmed that secular laws still apply when they contradict religious practices, unless a superseding law establishes a right to a religious accommodation. This means that belief in sharia cannot be used by itself as a justification for vigilante stonings or to prevent women from filing for divorce.2 Background of controversyIn June 2009, a family court judge in Hudson County, New Jersey denied a restraining order to a woman who testified that her husband, a Muslim, had forced her to have non-consensual sex. The judge said he did notbelieve the man "had a criminal desire to or intent to sexually assault" his wife because he was acting in a way that was "consistent with his practices." A state appeals court reversed his decision.[4] Advocates of the ban in the U.S. have cited this case as an example of the need for the ban.[5]## As of 2014 more than two dozen U.S. states have considered measures intended to restrict judges from consulting sharia law. Arizona, Kansas, Louisiana, South Dakota, Tennessee, North Carolina, Alabama and Texas[6][7] have "banned sharia", i.e., passed foreign law bans.[1] In 2010 and 2011 more than two dozen states "considered measures to restrict judges from consulting Shariah, or foreign and religious laws more generally". [8] As of 2013, all but 16 states have considered such a law.[1]In November 2010, voters in Oklahoma approved a ballot measure to amend the state constitution to ban sharia from state courts.[9][10] The law was then updated to include all foreign or religious laws.[11] The law was challenged by an official of the Council on American-Islamic Relations. In November 2010 a federal judge ruled the law to be unconstitutional and blocked the state from putting it into effect.[12][not in citation given][13] The court found the ban had the potential to do harm to Muslims. The invalidation of a will and testament using sharia instructions was an example.[14] That ruling and injunction were upheld by the Tenth Circuit Court of Appeals on January 10, 2012.[15]Missouri also passed a measure banning foreign law in 2013, but Gov. Jay Nixon vetoed the bill "because of its potential impact on international adoptions."[1]Two other states banning sharia were North Carolina, which prohibited state judges from considering Islamic law in family cases in 2013,[16] and Alabama, where voters passed an Amendment to the State Constitution (72% to 28%) to "ban sharia" in 2014.[17]3 SupportersDavid Yerushalmi has been called the founder of the movement in America and is described by The New York Times as "working with a cadre of conservative public-policy institutes and former military and intelligence officials"[8] and to pass legislation, "a network of Tea Party and Christian groups" as well as ACT! for America. [8] According to him, the purpose of the anti-sharia movement is not to pass legislation banning sharia law in the courts but "to get people asking this question, ‘What is Shariah?ʼ”.[8][18]In 2011, Republicans Sarah Palin, Newt Gingrich and Michele Bachmann warned about what they saw as the threat of shariah law.[18] During the lead-up to Newt Gingrich's presidential campaign 2012, he described sharia law as a "mortal threat" and called for its ban throughout America.[19] Sarah Palin has been quoted as saying that if shariah law “were to be adopted, allowed to govern in our country, it will be the downfall of America.”[8]At a press conference in the U.S. Capitol,[20] some Republican members of the United States Congress endorsed a new memorandum, based on a Center for Security Policy (CSP) report, Shariah: The Threat to America.4 AnalysisA 2013 report by the Brennan Center for Justice warned that the bans may have the unintended effects of invalidating prenuptial agreements and court decisions made in other states where arbitrators may have taken into account Islamic, Jewish or Catholic legal norms. Randy Brinson, the president of the Christian Coalition of Alabama, criticized the ban in Alabama, calling it "redundant and a waste of time".[1]Historian Justin Tyler Clark argues that the rise of an anti-Sharia movement in the US, more than a decade after the September 11 attacks, is in part a reaction to increasing political correctness in the American society. Clark compares the phenomenon to the 19th century anti-Catholic movement in the US, which, he writes, rose largely in reaction to changes in middle-class American etiquette, interpreted by the nativists as encroachmentof an alien ideology on their own social norms.[21]According to Sadakat Kadri, the ban on sharia laws notwithstanding, "the precepts of Islamic law ... have judicial force in the United States already", among Muslims who have had a dispute settled by Muslim conciliators. The 1925 Federal Arbitration Act allows Muslims, Christians, Jews, etc. to use religious tribunals to arbitrate disagreements and "the judgements that result are given force of law by state and federal courts". The statute "preempts inconsistent state legislation", such as laws to ban sharia.[22]For American Jews who choose to obey its rulings, a Beth Din (Rabbinical court) "may not merely decide the legal rights of devout Jews; in some cases it may formally forbid believers from pursuing complaints through the secular judicial system without prior authority from a rabbi. And Muslims can also have their inheritance, business, and matrimonial disputes sorted out by Islamic scholars, who attempt to decide them according to the sharia."[22] While the US Congress could in theory repeal the act, it could not ban arbitration by Muslims while leaving other religious conciliators free to continue their work. "Any reform would have to impact equally on all faith communities, and it is not only Muslims who would object if federal legislators presumed to do that."[22]## CanadaSharia law is explicitly banned in Quebec, upheld by a unanimous vote against it in 2005 by the NationalAssembly.[23]In Ontario there was a "heated 20-month controversy" after Toronto lawyer Syed Mumtaz Ali declared in2004 that an “Islamic Institute of Civil Justice” would begin "arbitrating family matters on the basis of sharia law", accompanied by a warning that Muslims who did not submit cases to Islamic arbitration panels were (according to Ali) not “good Muslims.”[24] In 2005, Ontario Premier Dalton McGuinty stated, "There will be no sharia law in Ontario. There will be no religious arbitration in Ontario. There will be one law for all Ontarians." This referred to McGuinty's plan to rescind the 1991 Arbitration Act, which made arbitration decisions according to religious laws enforceable in Ontario courts.[24] Opposing Ali were "anti-tribunal" forces of "politically savvy womenʼs groups, some of them composed of Muslim women", who feared womenʼs equality rights being violated. [24] In 2006, the province of Ontario banned arbitration of family law disputes under any body of laws except Ontario law, in part to prohibit arbitration under religious laws.[3]2❧## Western Europe## United KingdomIn the United Kingdom, Sharia has also become a political issue. A "One law for all" campaign[25] seeks toban sharia councils and arguing this is "the only way to end discrimination suffered by Muslim women".[26] In 2015, the Conservative Party Home Secretary Theresa May called for an investigation into the application of sharia law in England and Wales if Conservatives win the General Election. A day later the mayor of London, Boris Johnson, told a radio interviewer, he was opposed to "a Sharia system running in parallel with UK justice."[27]The issue arose in 2008, when the former Archbishop of Canterbury Rowan Williams 'suggested it was "inevitable" that elements of Sharia would be incorporated in British law.' Since then, "Sharia courts" have "never been far from tabloid headlines", according to Myriam Francois-Cerrah.[26] As of 2014, there were reported to be around 85 "shariah courts" in the UK,[26][28] operated by two rival services – Islamic Sharia Council and the newer, smaller, less strict Muslim Arbitration Tribunal.[26][29] The councils/tribunals provide arbitration that is voluntary but legally binding, are "officially mandated" and set up outside the court system[29] like anothernon-secular arbitration institution, the longstanding rabbinical tribunals.[30]The council/tribunals are defended as providing an essential service for pious Muslims who would simplywork with non-government mandated Sharia councils if the government abolished the mandated ones.[26] But they are also criticized for taking the man's side in rulings,[26] for example advising women to forfeit their mahr (marriage dower) in exchange for a divorce.[30][31] According to legal historian Sadakat Kadri, the Muslim Arbitration Tribunal has "no jurisdiction over criminal matters or cases involving children." A UK-trained lawyer sits "on all its panels, and every decision" is subject to judicial review – "meaning that it was subject to reversal if it disclosed unfair procedures, human rights violations, or any other step that ordinary court considered contrary to the public interest."[22] According to Kadri, British Muslims neither know nor care about the criminal penalties of Sharia law (tazir and hudud)[22] but seek much less controversial services.A woman whose husband has abandoned her without speaking the words of release required by the Quran might approach a mufti in search of an annulment. Senior figures in a community will pay visits to the homes of disruptive teenagers to remind them of their religious roots. Muslims who are prudent as well as pious might ask scholars to tell them which mortgage and insurance products are consistent with Islamic jurisprudence.[22]In addition to the sharia law of the councils and tribunals, there have also been reports of "vigilante sharia squads" in some places, such as Whitechapel, East London.[29][32] The legal system of the United Kingdom treats these squads as criminals.[33][34]## GermanySharia law is part of Germany's private law through the regulations of the German international private law.[35] Its application is limited by the ordre public.In September 2014, a small group of Muslims wearing mock police uniforms patrolled the streets of the western German city of Wuppertal. They "reportedly hovered around sites like discotheques and gambling houses, telling passers-by to refrain from gambling and alcohol". Following the incident the Interior Minister Thomas de Maizière told the daily newspaper Bild, "Sharia law is not tolerated on German soil."[36] The leader of the "police", Salafist Sven Lau, responded by saying the "sharia police" "never existed" and he only wanted to "raise attention" to sharia. The Central Council of Muslims in Germany (ZMD) condemned the activities.[37]## GreeceThe issue of the supremacy of sharia has arisen in Greece where a Muslim woman (Chatitze Molla Sali), was left her husband's estate in his will (a Greek document registered at a notaryʼs office) when he died in March 2008. Her in- laws immediately challenged the bequest with the local mufti (a Muslim jurist and theologian) in the name of sharia law, "which forbids Muslims to write wills" (Islamic law rather than the inheritee determining who gets what from the estate of the deceased).[38] Molla Sali took the dispute to a civil court where she won, but in October 2013, the Greek Supreme Court ruled against her and "established that matters of inheritance among the Muslim minority must be resolved by the mufti, following Islamic laws", in accordance with the 1923 Treaty of Lausanne between Greece and Turkey. Sali has appealed the decision to the European Court of Human Rights.[38]Muslim-majority countriesAlthough Turkey is a Muslim-majority country, since Kemal Atatürk's reforms and the creation of the Republic of Turkey, Sharia law was banned in 1924 and new westernized civil and penal codes were adopted in 1926.[39][40]In Tunisia some forms of Sharia law were banned.[41] See also 3❧## References s. u. w.> x. y. z. .> s~. ss.> su. sw. sx. sy. sz. s. u~. us. uu.> uw. ux. uy. uz.> u{.> u|. u}.> w~.> ws. wu.> ww. wx.> wy. wz. w. x~.> xs.> ^ a b c d e Farmer, Liz (4 November 2014). "Alabama Joins Wave of States BanningForeign Laws". Governing: State and local government news and analysis. Retrieved 27 August 2015.> http://www.cbc.ca/news/canada/montreal/quebec-gives-thumbs-down-to- shariah-law-1.535601> ^ a b Choski, Bilal M. (14 March 2012). "Religious Arbitration in Ontario – Making the Case Based on theBritish Example of the Muslim Arbitration Tribunal". University of Pennsylvania Law School. Retrieved 10 December 2015.> "State court throws out religion as defense in case involving husband's non- consensual sex with wife".New Jersey Local News, Breaking News, Sports & Weather. Retrieved 2016-07-15.> Lott, Maxim (5 August 2010). "Advocates of Anti-Shariah Measures Alarmed by Judge's Ruling". FoxNews.> "Muslims are ANGRY at Texas Mayor After She Stops "Sharia Court"... Here Is Her EPIC Response!". ThePolitical Insider. 24 March 2015.> "BOOM! Texas BANS Sharia Law and the First Islamic Sharia Court in the USA is NOT Happy!".> ^ a b c d e Elliott, Andrea (July 30, 2011). "The Man Behind the Anti-Shariah Movement". The New YorkTimes. Retrieved August 9, 2011.> Ure, Laurie (November 1, 2010). "Oklahoma voters face question on Islamic law". CNN. RetrievedNovember 9, 2010.> "Sharia law banned: Oklahoma to become the first U.S. state to veto use of Islamic code". Daily Mail.London. November 2, 2010.> Tanya Somanader Oklahomaʼs New Bill To Block Sharia Law Will Now Ban All Religious Law, HurtBusinesses at ThinkProgress blog of the Center for American Progress Action Fund, March 22, 2011> Michel Martin States Move To Ban Islamic Sharia Law at NPR radio network, March 11, 2011> McKinley Jr, James C. (November 29, 2010). "Judge Blocks Oklahoma's Ban on Using Shariah Law inCourt". The New York Times.> Oklahoma Sharia law ban 'unconstitutional', court rules retrieved 6 February 2012> Eckholm, Erik (January 10, 2012). "Oklahoma: Court Upholds Blocking of Amendment Against ShariahLaw". The New York Times.> North Carolina becomes 7th state to ban Muslim Sharia law| Desert News| August 28, 2013> Alabama Bans Sharia Law, Even Though it Doesnʼt Exist in the State by Robin Marty| by Robin Marty|Care2 is the world's largest social network for good, a community of over 40 million people standing together, starting petitions and sharing stories that inspire action.| November 10, 2014> ^ a b Gross, Terry (August 9, 2011). "Who's Behind The Movement To Ban Shariah Law?". NPR.Retrieved 27 August 2015.> Newt Gingrich: I'd Support A Muslim Running For President Only If They'd Commit To Give Up ShariaHuffington Post. Retrieved 5 February 2012> Daniel Luban Forget 'Ground Zero Mosque', It's the Great Sharia Conspiracy at Inter Press ServiceSeptember 16, 2011> Justin Tyler Clark (Aug 5, 2017). "How political correctness led to Islamophobia". Boston Globe.> ^ a b c d e f Kadri, Sadakat (2012). Heaven on Earth: A Journey Through Shari'a Law from the Deserts ofAncient Arabia . Macmillan. p. 279. ISBN 978-0099523277.> http://www.cbc.ca/news/canada/montreal/quebec-gives-thumbs-down-to- shariah-law-1.535601> ^ a b c Simmons, Harvey (14 September 2010). "'One law for all Ontarians' Editorial Opinion". http://Star.com.Retrieved 10 December 2015.> "One Law for All Campaign against Sharia law in Britain". Home. Retrieved 3 September2015.> ^ a b c d e f Francois-Cerrah, Myriam (17 Jul 2014). "Why banning Sharia courts would harm BritishMuslim women". The Telegraph. Retrieved 31 August 2015.> Perring, Rebecca (March 24, 2015). "Boris Johnson: 'Sharia law in the UK is absolutely unacceptable'".Express. Retrieved 31 August 2015.> Islamic Sharia Council Leyton, East London> ^ a b c Graham, David A. (20 January 2015). "Why the Muslim 'No-Go-Zone' Myth Won't Die". TheAtlantic. Retrieved 5 September 2015.> ^ a b "Sharia in the West. Whose law counts most?". The Economist. 14 October 2010. Retrieved 6September 2015.> BBC - Homepage: "Are Sharia councils failing vulnerable women?", 6 April 2013> "London's 'Muslim Patrol' aims to impose Sharia law in East London". CNN. 1 February 2013. Retrieved 5September 2015.> "Muslim vigilantes jailed for 'sharia law' attacks in London". Guardian. London. 6 December 2013.Retrieved 1 May 2014.> Jones, Sam; agency (6 December 2013). "Muslim vigilantes jailed for 'sharia law' attacks in London" – viaThe Guardian.> Jeory, Ted (14 February 2014). "Judge BANS Muslim Patrol vigilantes from promoting SHARIA LAW inBritain". Express. Retrieved 30 April 2014.> Gover, Dominic (14 February 2014). "Ban on 'Muslim Patrols' by Anjem Choudary's East LondonDisciples". International Business Times. Retrieved 1 May 2014.> Vale, Paul (14 March 2014). "Royal Barnes And Rebekah Dawson, British Muslim Converts, Jailed For'Sick' Lee Rigby YouTube Videos". Huffington Post (UK). Retrieved 1 May 2014.> http://www.spiegel.de/international/germany/crossing-borders-with- shariah-the-role-of-islamic-law-in-german-courts-a-722477.html> https://www.bild.de/politik/inland/salafismus/bundesregierung-alamiert- ueber-wuppertaler-scharia-polizei-37561412.bild.html> "Germany won't tolerate 'Sharia police'". DW. June 6, 2014. Retrieved 8 September 2015.> ^ a b Volokh, Eugene (April 13, 2015). "The Volokh Conspiracy Muslim woman fighting Sharia law inEurope". Washington Post. Retrieved 4 September 2015.> Janin, Hunt; Kahlmeyer, André (2007). Islamic Law: the Sharia from Muhammad's Time to the Present.McFarland. p. 185. ISBN 0786429216.> Webster, Donald Everett (1939). The Turkey of Atatürk: social process in the Turkish reformation.Philadelphia: The American Academy of Political and Social Science. pp. 107, 127. Retrieved 31 August 2015.

Wells Fargo - WikipediaWells FargoFrom Wikipedia, the free encyclopediaJump to navigationJump to searchFor other uses, see Wells Fargo (disambiguation).Wells Fargo & CompanyCompany logo since 2009Wells Fargo's headquarters complex in San Francisco, CaliforniaTypePublicTraded asNYSE: WFCS&P 100 componentS&P 500 componentISINUS9497461015IndustryBankingFinancial servicesInsurancePredecessorsCollapsible list[show]FoundedMarch 18, 1852 (167 years ago) in San Francisco, California, USFoundersHenry WellsWilliam FargoHeadquarters420 Montgomery Street, San Francisco, California, USNumber of locations8,050 branches (2018)13,000 ATMs (2018)Area servedWorldwideKey peopleElizabeth Duke(Chair)C. Allen Parker(Interim President & CEO)John R. Shrewsberry(CFO)ProductsCollapsible list[show]RevenueUS$86.40 billion (2018)Operating incomeUS$30.28 billion (2018)Net incomeUS$22.39 billion (2018)Total assetsUS$1.895 trillion (2018)Total equityUS$197.06 billion (2018)OwnerBerkshire Hathaway (10%)Membersc.70 million (2018)Number of employeesc.258,700 (2018)SubsidiariesWells Fargo AdvisorsWells Fargo Bank, N.A.Wells Fargo RailWells Fargo SecuritiesRatingFitch: A+ (2018)Moody's: A2 (2018)S&P: A− (2018)Websitewellsfargo.comFootnotes / references[1][2][3][4][5][6][7][8]Wells Fargo branch in Berkeley, CaliforniaWells Fargo & Company is an American multinational financial servicescompany headquartered in San Francisco, California, with central offices throughout the United States.[9]It is the world's fourth-largest bank by market capitalization and the fourth largest bank in the US by total assets.[10][11]Wells Fargo is ranked #26 on the 2018 Fortune 500 rankings of the largest US corporations by total revenue.[12]In July 2015, Wells Fargo became the world's largest bank by market capitalization, edging past ICBC,[11]before slipping behind JPMorgan Chase in September 2016, in the wake of a scandal involving the creation of over 2 million fake bank accounts by Wells Fargo employees.[10]Wells Fargo fell behind Bank of America to third by bank deposits in 2017[13]and behind Citigroup to fourth by total assets in 2018.[14]The firm's primary operating subsidiary is national bank Wells Fargo Bank, N.A., which designates its main office as Sioux Falls, South Dakota. Wells Fargo in its present form is a result of a merger between San Francisco–based Wells Fargo & Company and Minneapolis-based Norwest Corporation in 1998 and the subsequent 2008 acquisition of Charlotte-based Wachovia. Following the mergers, the company transferred its headquarters to Wells Fargo's headquarters in San Francisco and merged its operating subsidiary with Wells Fargo's operating subsidiary in Sioux Falls. Along with JPMorgan Chase, Bank of America, and Citigroup, Wells Fargo is one of the "Big Four Banks" of the United States.[15]As of June 2018, it had 8,050 branches and 13,000 ATMs.[2]In 2018 the company had operations in 35 countries with over 70 million customers globally.[2]In February 2014, Wells Fargo was named the world's most valuable bank brand for the second consecutive year[16]in The Banker and Brand Financestudy of the top 500 banking brands.[17]In 2016, Wells Fargo ranked 7th on the Forbes Magazine Global 2000 list of largest public companies in the world and ranked 27th on the Fortune 500 list of the largest companies in the US.[7][18]In 2015, the company was ranked the 22nd most admired company in the world, and the 7th most respected company in the world.[7]As of December 2018, the company had a Standard & Poors credit rating of A−.[8]However, for a brief period in 2007, the company was the only AAA‑rated bank, reflecting the highest credit rating from two firms.[19]On February 2, 2018, the US Federal Reserve Bank barred Wells Fargo from growing its nearly US$2 trillion-asset base any further, based upon years of misconduct, until Wells Fargo fixes its internal problems to the satisfaction of the Federal Reserve.[20]In April 2018, The Wall Street Journal reported that the US Department of Labor had launched a probe into whether Wells Fargo was pushing its customers into more expensive retirement plans as well as intoretirement funds managed by Wells Fargo itself.[21][22]Subsequently in May 2018, The Wall Street Journal reported that Wells Fargo's business banking group had improperly altered documents about business clients in 2017 and early 2018.[23]In June 2018, Wells Fargo began retreating from retail bankingin the Midwestern United States by announcing the sale of all its physical bank branch locations in Indiana, Michigan, and Ohio to Flagstar Bank.[24][13]Contents1History1.1Wells Fargo History Museums1.2Key dates1.3Wachovia acquisition1.4Investment by US Treasury Department during 2008 financial crisis1.4.1History of Wells Fargo Securities1.5Environmental record2Operations and services2.1Community banking2.1.1Consumer lending2.1.2Wells Fargo private student loans2.1.3Equipment lending2.2Wealth and Investment Management2.2.1Wells Fargo Asset Management2.2.2Wells Fargo Securities2.3Cross-selling2.4International operations2.5Charter3Lawsuits, fines and controversies3.11981 MAPS Wells Fargo embezzlement scandal3.2Higher costs charged to African-American and Hispanic borrowers3.3Failure to monitor suspected money laundering3.4Overdraft fees3.5Settlement and fines regarding mortgage servicing practices3.6SEC fine due to inadequate risk disclosures3.7Lawsuit by FHA over loan underwriting3.8Lawsuit due to premium inflation on forced place insurance3.9Lawsuit regarding excessive overdraft fees3.102015 Violation of New York credit card laws3.11Executive compensation3.12Tax avoidance and lobbying3.13Prison industry investment3.14SEC settlement for insider trading case3.15Wells Fargo account fraud scandal3.16Racketeering lawsuit for mortgage appraisal overcharges3.17Dakota Access Pipeline investment3.18Failure to comply with document security requirements3.19Connections to the gun industry and NRA3.20Discrimination against female workers3.21Auto insurance4CEO-to-worker pay ratio5See also6Notes7References8External linksHistory[edit]Main article: History of Wells FargoWells Fargo History Museums[edit]The company operates 12 museums, most known as a Wells Fargo History Museum,[25]in its corporate buildings inCharlotte, North Carolina, Denver, Colorado, Des Moines, Iowa, Los Angeles, California, Minneapolis, Minnesota,Philadelphia, Pennsylvania, Phoenix, Arizona, Portland, Oregon, Sacramento, California and San Francisco, California. Displays include original stagecoaches, photographs, gold nuggets and mining artifacts, the Pony Express, telegraphequipment and historic bank artifacts. The company also operates a museum about company history in the Pony Express Terminal in Old Sacramento State Historic Park in Sacramento, California, which was the company's second office,[26]and the Wells Fargo History Museum in Old Town San Diego State Historic Park in San Diego, California.[27]Wells Fargo operates the Alaska Heritage Museum in Anchorage, Alaska, which features a large collection of Alaskan Native artifacts, ivory carvings and baskets, fine art by Alaskan artists, and displays about Wells Fargo history in the Alaskan Gold Rush era.[28]Key dates[edit]A late 19th Century Wells Fargo Bank in Apache Junction, Arizona1879 Wells Fargo Stagecoach on exhibit in the Wells Fargo Museum in PhoenixThe Wells Fargo Stage Stop built in 1872 in Black Canyon City, ArizonaWells Fargo bank in Chinatown,Houston, TexasA remodeled Wells Fargo bank inFort Worth, TexasWells Fargo in Laredo, Texas1852: Henry Wells and William G. Fargo, the two founders of American Express, formed Wells Fargo & Company to provide express and banking services to California.1860: Wells Fargo gained control of Butterfield Overland Mail Company, leading to operation of the western portion of the Pony Express.1866: "Grand consolidation" united Wells Fargo, Holladay, and Overland Mail stage lines under the Wells Fargo name.1905: Wells Fargo separated its banking and express operations; Wells Fargo's bank was merged with the Nevada National Bank to form the Wells Fargo Nevada National Bank.1918: As a wartime measure, the US Federal Government nationalized Wells Fargo's express franchise into a federal agency known as the US Railway Express Agency. The US Federal Government took control of the express company. The bank began rebuilding but with a focus on commercial markets. After the war, REA was privatized and continued service until 1975.1923: Wells Fargo Nevada merged with the Union Trust Company to form the Wells Fargo Bank & Union Trust Company.1929: Northwest Bancorporation was formed as a banking association.1954: Wells Fargo & Union Trust shortened its name to Wells Fargo Bank.1960: Wells Fargo merged with American Trust Company to form the Wells Fargo Bank American Trust Company.1962: Wells Fargo American Trust again shortened its name to Wells Fargo Bank.1968: Wells Fargo converted to a federal banking charter, becoming Wells Fargo Bank, N.A. Wells Fargo merged with Henry Trione's Sonoma Mortgage in a $10.8 million stock transfer, making Trione the largest shareholder in Wells Fargo until Warren Buffett and Walter Annenberg later surpassed him.[29]1969: Wells Fargo & Company holding company was formed, with Wells Fargo Bank as its main subsidiary.1982: Northwest Bancorporation acquired consumer finance firm Dial Finance which is renamed Norwest Financial Service the following year.1983: Northwest Bancorporation was renamed Norwest Corporation.1983: White Eagle, largest US bank heist to date took place at a Wells Fargo depot in West Hartford, Connecticut.1986: Wells Fargo acquired Crocker National Corporation from Midland Bank.1987: Wells Fargo acquired the personal trust business of Bank of America.1988: Wells Fargo acquired Barclays Bank of California from Barclays plc.[30]1995: Wells Fargo became the first major US financial services firm to offer Internet banking.1996: Wells Fargo acquired First Interstate Bancorp for US$11.6 billion.[31]1998: Wells Fargo Bank was acquired by Norwest Corporation of Minneapolis.[32](Norwest was the surviving company; however, it chose to continue business under the more well-known Wells Fargo name.)2000: Wells Fargo Bank acquired National Bank of Alaska.[33]2000: Wells Fargo acquired First Security Corporation.[34]2001: Wells Fargo acquired H.D. Vest Financial Services for US$128 million, but sold it in 2015 for US$580 million.[35]2007: Wells Fargo acquired CIT's construction unit.[36]2007: Wells Fargo acquired Placer Sierra Bank.2007: Wells Fargo acquired Greater Bay Bancorp, which had US$7.4 billion in assets, in a US$1.5 billion transaction.[37][38]2008: Wells Fargo acquired United Bancorporation of Wyoming.[39]2008: Wells Fargo acquired Century Bancshares of Texas.[40]2008: Wells Fargo acquired Wachovia Corporation.2009: Wells Fargo acquired North Coast Surety Insurance Services.[41]2012: Wells Fargo acquired Merlin Securities.[42][43]2012: Wells Fargo acquired stake in The Rock Creek Group LP.2019: CEO Tim Sloan resigns causing stock to jump and leaves General Counsel Allen Parker as Interim CEOWachovia acquisition[edit]A former Wachovia branch converted to Wells Fargo in the fall of 2011 in Durham, North CarolinaOn October 3, 2008, Wachovia agreed to be bought by Wells Fargo for about US$14.8 billion in an all-stock transaction. This news came four days after the USFederal Deposit Insurance Corporation (FDIC) made moves to have Citigroup buy Wachovia for US$2.1 billion. Citigroup protested Wachovia's agreement to sell itself to Wells Fargo and threatened legal action over the matter. However, the deal with Wells Fargo overwhelmingly won shareholder approval since it valued Wachovia at about seven times what Citigroup offered. To further ensure shareholder approval, Wachovia issued Wells Fargo preferred stock that holds 39.9% of the voting power in the company.[44]On October 4, 2008, a New York state judge issued a temporary injunction blocking the transaction from going forward while the situation was sorted out.[45]Citigroup alleged that they had an exclusivity agreement with Wachovia that barred Wachovia from negotiating with other potential buyers. The injunction was overturned late in the evening on October 5, 2008, by New York state appeals court.[46]Citigroup and Wells Fargo then entered into negotiations brokered by the FDIC to reach an amicable solution to the impasse. Those negotiations failed. Sources say that Citigroup was unwilling to take on more risk than the US$42 billion that would have been the cap under the previous FDIC-backed deal (with the FDIC incurring all losses over US$42 billion). Citigroup did not block the merger, but indicated they would seek damages of US$60 billion for breach of an alleged exclusivity agreement with Wachovia.[47]Investment by US Treasury Department during 2008 financial crisis[edit]On October 28, 2008, Wells Fargo was the recipient of US$25 billion of Emergency Economic Stabilization Act funds in the form of a preferred stock purchase by the US Treasury Department.[48][49]Tests by the US Federal Government revealed that Wells Fargo needed an additional US$13.7 billion in order to remain well capitalized if the economy were to deteriorate further under stress test scenarios. On May 11, 2009, Wells Fargo announced an additional stock offering which was completed on May 13, 2009, raising US$8.6 billion in capital. The remaining US$4.9 billion in capital was planned to be raised through earnings. On Dec. 23, 2009, Wells Fargo redeemed the US$25 billion of preferred stock issued to the US Treasury. As part of the redemption of the preferred stock, Wells Fargo also paid accrued dividends of US$131.9 million, bringing the total dividends paid to US$1.441 billion since the preferred stock was issued in October 2008.[50]History of Wells Fargo Securities[edit]Wells Fargo Securities was established in 2009 to house Wells Fargo's capital markets group which it obtained during the Wachovia acquisition. Prior to that point, Wells Fargo had little to no participation in investment banking activities, though Wachovia had a well established investment banking practice which it operated under the Wachovia Securities banner.Wachovia's institutional capital markets and investment banking business arose from the merger of Wachovia and First Union. First Union had bought Bowles Hollowell Connor & Co. on April 30, 1998 adding to its merger and acquisition, high yield, leveraged finance, equity underwriting, private placement, loan syndication, risk management, and public financecapabilities.[51]Legacy components of Wells Fargo Securities include Wachovia Securities, Bowles Hollowell Connor & Co., Barrington Associates, Halsey, Stuart & Co., Leopold Cahn & Co., Bache & Co.. Prudential Securities, A.G. Edwards, Inc. and the investment banking arm of Citadel LLC.[52]Duke Energy Center in Charlotte, North Carolina home of Wells Fargo Securities[53]Environmental record[edit]In 2009, Wells Fargo ranked #1 among banks and insurance companies, and #13 overall, inNewsweek Magazine's inaugural "Green Rankings" of the country's 500 largest companies.[54]In 2013, the company was recognized by the EPA Center for Corporate Climate Leadership as a Climate Leadership Award winner, in the category "Excellence in Greenhouse Gas Management (Goal Setting Certificate)"; this recognition was for the company's aim to reduce its absolute greenhouse gas emissions from its US operations by 35% by 2020 versus 2008 levels.[55]As of 2013, Wells Fargo had provided more than US$6 billion in financing for environmentally beneficial business opportunities, including supporting 185 commercial-scale solar photovoltaic projects and 27 utility-scale wind projects nationwide.[56][better source needed]Wells Fargo has launched what it believes to be the first blog among its industry peers to report on its environmental stewardship and to solicit feedback and ideas from its stakeholders.[57][58]We want to be as open and clear as possible about our environmental efforts – both our accomplishments and challenges – and share our experiences, ideas and thoughts as we work to integrate environmental responsibility into everything we do," said Mary Wenzel, director of Environmental Affairs. "We also want to hear and learn from our customers. By working together, we can do even more to protect and preserve natural resources for future generations.—Mary Wenzel, director of Environmental Affairs, Wells Fargo, 2010 press releaseOperations and services[edit]Map of Wells Fargo branches in August 2015Wells Fargo delineates three different business segments when reporting results:Community Banking; Wholesale Banking; and Wealth, Brokerage and Retirement.Community banking[edit]The Community Banking segment includes Regional Banking, Diversified Products, and Consumer Deposits groups, as well as Wells Fargo Customer Connection (formerly Wells Fargo Phone Bank, Wachovia Direct Access, the National Business Banking Center, and Credit Card Customer Service). Wells Fargo also has around 2,000 stand-alone mortgage branches throughout the country.[59]There are mini-branches located inside of other buildings, which are almost exclusively grocery stores, that usually contain ATMs, basicteller services, and, space permitting, an office for private meetings with customers.[60]In March 2017, Wells Fargo announced a plan to offer smartphone-based transactions with mobile wallets including Wells Fargo Wallet, Android Pay and Samsung Pay.[61]Consumer lending[edit]As of Q3 2011, Wells Fargo Home Mortgage was the largest retail mortgage lender in the United States, originating one out of every four home loans.[62]Wells Fargo services US$1.8 trillion in home mortgages, the second largest servicing portfolio in the US[63]It was reported in 2012 Wells Fargo reached 30% market share for US mortgages, however, the then-CEO John Stumpf had said the numbers were misleading because about half of that share represented the aggregation of smaller loans that were then sold on in the secondary market. In 2013, its share was closer to 22%; of which eight percentage points was aggregation.[64]Wells Fargo private student loans[edit]Wells Fargo private student loans are available to students to pay for college expenses, such as tuition, books, computers, or housing.[65]Loans are available for undergraduate, career and community colleges, graduate school, law school and medical school. Wells Fargo also provides private student loan consolidation and student loans for parents.[citation needed]Equipment lending[edit]Wells Fargo has various divisions that finance and lease equipment to different types of companies.[66][citation needed]One venture is Wells Fargo Rail, which in 2015 agreed to the purchase of GE Capital Rail Services and merged in with First Union Rail.[67]In late 2015, it was announced that Wells Fargo would buy three GE units focused on business loans equipment financing.[68]Wealth and Investment Management[edit]Wells Fargo Advisors headquarters in St. Louis, MissouriWells Fargo offers investment products through its subsidiaries, Wells Fargo Investments, LLC and Wells Fargo Advisors, LLC, as well as through national broker/dealer firms. The company also serves high-net-worth individuals through its private bank and family wealthgroup.The logo for Wells Fargo AdvisorsWells Fargo Advisors is the brokerage subsidiary of Wells Fargo, located in St. Louis, Missouri. It is the third largest brokerage firm in the United States as of the third quarter of 2010 with US$1.1 trillion retail client assets under management.[7]Wells Fargo Advisors was known as Wachovia Securities until May 1, 2009, when it legally changed names following the Wells Fargo's acquisition of Wachovia Corporation.In September 2018, Wells Fargo announced to cut 26,450 jobs by 2020 to reduce costs by US$4 billion.[69]Wells Fargo Asset Management[edit]Wells Fargo Funds Management, LLCTypeSubsidiaryIndustryMutual fundsHeadquartersKansas City, MissouriArea servedWorldwideWebsitewellsfargofunds.comWells Fargo Asset Management (WFAM) is the trade name for the mutual funddivision of Wells Fargo & Co. Mutual funds are offered under the Wells Fargo Advantage Funds brand name.Wells Fargo Securities[edit]Wells Fargo Securities, LLCTypeSubsidiaryIndustryInvestment BankingHeadquartersCharlotte, North CarolinaArea servedWorldwideWebsitewww.wellsfargo.com/com/securities/The Seagram Building: Home of Wells Fargo Securities' New York offices and trading floorsWells Fargo Securities (WFS) is the investment banking division of Wells Fargo & Co. The size and financial performance of this group is not disclosed publicly, but analysts believe the investment banking group houses approximately 4,500 employees and generates between US$3 and US$4 billion per year in investment banking revenue. By comparison, two of Wells Fargo's largest competitors, Bank of America and J.P. Morgan Chasegenerated approximately US$5.5 billion and US$6 billion respectively in 2011 (not including sales and trading revenue).[70]WFS headquarters are in Charlotte, North Carolina, with other US offices in New York, Minneapolis, Boston, Houston, San Francisco, and Los Angeles, with international offices in London, Hong Kong, Singapore, and Tokyo.Cross-selling[edit]A key part of Wells Fargo's business strategy is cross-selling, the practice of encouraging existing customers to buy additional banking products.[71]Customers inquiring about their checking account balance may be pitched mortgage deals and mortgage holders may be pitched credit card offers in an attempt to increase the customer's profitability to the bank.[72][73]Other banks have attempted to emulate Wells Fargo's cross-selling practices (described byThe Wall Street Journal as a hard sell technique);[72]Forbes magazine describes Wells Fargo as "better than anyone" at the practice.[73]International operations[edit]Wells Fargo has banking services throughout the world, with offices in Hong Kong, London, Dubai, Singapore, Tokyo,Toronto.[74][75]They operate back-offices in India and the Philippines with more than 3,000 staff.[76]Charter[edit]Wells Fargo operates under Charter #1, the first national bank charter issued in the United States. This charter was issued to First National Bank of Philadelphia on June 20, 1863, by the Office of the Comptroller of the Currency.[77]Traditionally, acquiring banks assume the earliest issued charter number. Thus, the first charter passed from First National Bank of Philadelphia to Wells Fargo through its 2008 acquisition of Wachovia, which had inherited it through one of its many acquisitions.Lawsuits, fines and controversies[edit]A Wells Fargo branch in Logan, Utah1981 MAPS Wells Fargo embezzlement scandal[edit]In 1981, it was discovered that a Wells Fargo assistant operations officer, Lloyd Benjamin "Ben" Lewis, had perpetrated one of the largest embezzlements in history, through its Beverly Drive branch. During 1978 - 1981, Lewis had successfully written phony debit and credit receipts to benefit boxing promoters Harold J. Smith (né Ross Eugene Fields) and Sam "Sammie" Marshall, chairman and president, respectively, of Muhammed Ali Professional Sports, Inc. (MAPS), of which Lewis was also listed as a director; Marshall, too, was a former employee of the same Wells Fargo branch as Lewis. In excess of US$300,000 was paid to Lewis, who pled guilty to embezzlement andconspiracy charges in 1981, and testified against his co-conspirators for a reduced five-year sentence.[78](Boxer Muhammed Ali had received a fee for the use of his name, and had no other involvement with the organization.[79])Higher costs charged to African-American and Hispanic borrowers[edit]Illinois Attorney General Lisa Madigan filed suit against Wells Fargo on July 31, 2009, alleging that the bank steers African Americans and Hispanics into high-cost subprime loans. A Wells Fargo spokesman responded that "The policies, systems, and controls we have in place – including in Illinois – ensure race is not a factor..."[80]An affidavit filed in the case stated that loan officers had referred to black mortgage-seekers as "mud people," and the subprime loans as "ghetto loans."[81]According to Beth Jacobson, a loan officer at Wells Fargo interviewed for a report in The New York Times, "We just went right after them. Wells Fargo mortgage had an emerging-markets unit that specifically targeted black churches, because it figured church leaders had a lot of influence and could convince congregants to take out subprime loans." The report goes on to present data from the city of Baltimore, where "more than half the properties subject to foreclosure on a Wells Fargo loan from 2005 to 2008 now stand vacant. And 71 percent of those are in predominantly black neighborhoods."[82]Wells Fargo agreed to pay US$125 million to subprime borrowers and US$50 million in direct down payment assistance in certain areas, for a total of US$175 million.[83][84]Failure to monitor suspected money laundering[edit]In a March 2010 agreement with US federal prosecutors, Wells Fargo acknowledged that between 2004 and 2007 Wachoviahad failed to monitor and report suspected money laundering by narcotics traffickers, including the cash used to buy four planes that shipped a total of 22 tons of cocaine into Mexico.[85]Overdraft fees[edit]In August 2010, Wells Fargo was fined by US District Court judge William Alsup for overdraft practices designed to "gouge" consumers and "profiteer" at their expense, and for misleading consumers about how the bank processed transactions and assessed overdraft fees.[86][87][88]Settlement and fines regarding mortgage servicing practices[edit]On February 9, 2012, it was announced that the five largest mortgage servicers (Ally Financial, Bank of America, Citi,JPMorgan Chase, and Wells Fargo) agreed to a settlement with the US Federal Government and 49 states.[89]The settlement, known as the National Mortgage Settlement (NMS), required the servicers to provide about US$26 billion in relief to distressed homeowners and in direct payments to the federal and state governments. This settlement amount makes the NMS the second largest civil settlement in US history, only trailing the Tobacco Master Settlement Agreement.[90]The five banks were also required to comply with 305 new mortgage servicing standards. Oklahoma held out and agreed to settle with the banks separately.On April 5, 2012, a federal judge ordered Wells Fargo to pay US$3.1 million in punitive damages over a single loan, one of the largest fines for a bank ever for mortgaging service misconduct.[91]Elizabeth Magner, a federal bankruptcy judge in the Eastern District of Louisiana, cited the bank's behavior as "highly reprehensible",[92]stating that Wells Fargo has taken advantage of borrowers who rely on the bank's accurate calculations. She went on to add, "perhaps more disturbing is Wells Fargo's refusal to voluntarily correct its errors. It prefers to rely on the ignorance of borrowers or their inability to fund a challenge to its demands, rather than voluntarily relinquish gains obtained through improper accounting methods."[93]SEC fine due to inadequate risk disclosures[edit]On August 14, 2012, Wells Fargo agreed to pay around US$6.5 million to settle US Securities and Exchange Commission(SEC) charges that in 2007 it sold risky mortgage-backed securities without fully realizing their dangers.[94][95]Lawsuit by FHA over loan underwriting[edit]On October 9, 2012, the US Federal Government sued the bank under the False Claims Act at the federal court inManhattan, New York. The suit alleges that Wells Fargo defrauded the US Federal Housing Administration (FHA) over the past ten years, underwriting over 100,000 FHA backed loans when over half did not qualify for the program. This suit is the third allegation levied against Wells Fargo in 2012.[96]In October 2012, Wells Fargo was sued by United States Attorney Preet Bharara over questionable mortgage deals.[97]Lawsuit due to premium inflation on forced place insurance[edit]In April 2013, Wells Fargo settled a suit with 24,000 Florida homeowners alongside insurer QBE, in which Wells Fargo was accused of inflating premiums on forced-place insurance.[98]Lawsuit regarding excessive overdraft fees[edit]In May 2013, Wells Fargo paid US$203 million to settle class-action litigation accusing the bank of imposing excessiveoverdraft fees on checking-account customers. Also in May, the New York attorney-general, Eric Schneiderman, announced a lawsuit against Wells Fargo over alleged violations of the national mortgage settlement, a US$25 billion deal struck between 49 state attorneys and the five-largest mortgage servicers in the US. Schneidermann claimed Wells Fargo had violated rules over giving fair and timely serving.[64]2015 Violation of New York credit card laws[edit]In February 2015, Wells Fargo agreed to pay US$4 million for violations where an affiliate took interest in the homes of borrowers in exchange for opening credit card accounts for the homeowners. This is illegal according to New York credit card laws. There was a US$2 million penalty with the other US$2 million going towards restitution to customers.[99]Executive compensation[edit]With CEO John Stumpf being paid 473 times more than the median employee, Wells Fargo ranks number 33 among the S&P 500 companies for CEO—employee pay inequality. In October 2014, a Wells Fargo employee earning US$15 per hour emailed the CEO—copying 200,000 other employees—asking that all employees be given a US$10,000 per year raise taken from a portion of annual corporate profits to address wage stagnation and income inequality. After being contacted by the media, Wells Fargo responded that all employees receive "market competitive" pay and benefits significantly above US federal minimums.[100][101]Tax avoidance and lobbying[edit]In December 2011, the non-partisan organization Public Campaign criticized Wells Fargo for spending US$11 million onlobbying and not paying any taxes during 2008–2010, instead getting US$681 million in tax rebates, despite making a profit of US$49 billion, laying off 6,385 workers since 2008, and increasing executive pay by 180% to US$49.8 million in 2010 for its top five executives.[102]As of 2014 however, at an effective tax rate of 31.2% of its income, Wells Fargo is the fourth-largest payer of corporation tax in the US.[103]Prison industry investment[edit]Main article: Prison–industrial complexThe GEO Group, Inc., a multi-national provider of for-profit private prisons, received investments made by Wells Fargo mutual funds on behalf of clients, not investments made by Wells Fargo and Company, according to company statements.[104]By March 2012, its stake had grown to more than 4.4 million shares worth US$86.7 million.[105]As of November, 2012, the latest SEC filings reveal that Wells Fargo has divested 33% of its dispositive holdings of GEO's stock, which reduces Wells Fargo's holdings to 4.98% of Geo Group's common stock. By reducing its holdings to less than 5%, Wells Fargo will no longer be required to disclose some financial dealings with GEO.[106]While a coalition of organizations, National People's Action Campaign, have seen some success in pressuring Wells Fargo to divest from private prison companies like GEO Group, the company continues to make such investments.[107]SEC settlement for insider trading case[edit]In 2015, an analyst at Wells Fargo settled an insider trading case with the US Securities and Exchange Commission (SEC). The former employee was charged with insider trading alongside an ex-Wells Fargo trader.[108]Sadis & Goldberg obtained a settlement that permitted the client to continue in securities industry, while neither admitting nor denying one charge of negligence-based § 17(a)(3) claim, and paying a US$75,000 civil penalty[109]Wells Fargo account fraud scandal[edit]Main article: Wells Fargo account fraud scandalIn September 2016, Wells Fargo was issued a combined total of US$185 million in fines for creating over 1.5 million checking and savings accounts and 500,000 credit cards that its customers never authorized. The US Consumer Financial Protection Bureau issued US$100 million in fines, the largest in the agency's five-year history, along with US$50 million in fines from the City and County of Los Angeles, and US$35 million in fines from the Office of Comptroller of the Currency.[110]The scandal was caused by an incentive-compensation program for employees to create new accounts. It led to the firing of nearly 5,300 employees and US$5 million being set aside for customer refunds on fees for accounts the customers never wanted.[111]Carrie Tolstedt, who headed the department, retired in July 2016 and received US$124.6 million in stock, options, and restricted Wells Fargo shares as a retirement package.[112][113]On October 12, 2016, John Stumpf, the then Chairman and CEO, announced that he would be retiring amidst the controversies involving his company. It was announced by Wells Fargo that President and Chief Operating Officer Timothy J. Sloan would succeed, effective immediately. Following the scandal, applications for credit cards and checking accounts at the bank plummeted.[114]In response to the event, the Better Business Bureau dropped accreditation of the bank,[115]S&P Global Ratings lowered its outlook for Wells Fargo from stable to negative,[116]and several states and cities across the US ended business relations with the company.[117]An investigation by the Wells Fargo board of directors, the report of which was released in April 2017, primarily blamed Stumpf, whom it said had not responded to evidence of wrongdoing in the consumer services division, and Tolstedt, who was said to have knowingly set impossible sales goals and refused to respond when subordinates disagreed with them.[118]The board chose to use a clawback clause in the retirement contracts of Stumpf and Tolstedt to recover US$75 million worth of cash and stock from the former executives.[118]Racketeering lawsuit for mortgage appraisal overcharges[edit]In November 2016, Wells Fargo agreed to pay US$50 million to settle a racketeering lawsuit in which the bank was accused of overcharging hundreds of thousands of homeowners for appraisals ordered after they defaulted on their mortgage loans. While banks are allowed to charge homeowners for such appraisals, Wells Fargo frequently charged homeowners US$95 to US$125 on appraisals for which the bank had been charged US$50 or less. The plaintiffs had sought triple damages under the U S Racketeer Influenced and Corrupt Organizations Act on grounds that sending invoices and statements with fraudulently concealed fees constituted mail and wire fraud sufficient to allege racketeering.[119]Dakota Access Pipeline investment[edit]Wells Fargo is a lender on the Dakota Access Pipeline, a 1,172-mile-long (1,886 km) underground oil pipeline transportsystem in North Dakota. The pipeline has been controversial regarding its potential impact on the environment.[120]In February 2017, Seattle, Washington's city council unanimously voted to not renew its contract with Wells Fargo "in a move that cites the bank's role as a lender to the Dakota Access Pipeline project as well as its "creation of millions of bogus accounts." and saying the bidding process for its next banking partner will involve "social responsibility." The City Council ofDavis, California, took a similar action voting unanimously to find a new bank to handle its accounts by the end of 2017.[121]Failure to comply with document security requirements[edit]In December 2016, the Financial Industry Regulatory Authority fined Wells Fargo US$5.5 million for failing to store electronic documents in a "write once, read many" format, which makes it impossible to alter or destroy records after they are written.[122]Connections to the gun industry and NRA[edit]Wells Fargo is the top banker for US gun makers and the National Rifle Association (NRA). From December 2012 through February 2018 it reportedly helped two of the biggest firearms and ammunition companies obtain US$431.1 million in loans and bonds. It also created a US$28-million line of credit for the NRA and operates the organization's primary accounts.[123]In a March 2018 statement Wells Fargo said, "Any solutions on how to address this epidemic will be complicated. This is why our company believes the best way to make progress on these issues is through the political and legislative process. ... We plan to engage our customers that legally manufacture firearms and other stakeholders on what we can do together to promote better gun safety for our communities."[123]Wells Fargo's CEO subsequently said that the bank would provide its gun clients with feedback from employees and investors.[124]Discrimination against female workers[edit]Further information: Glass ceilingIn June 2018, about a dozen female Wells Fargo executives from the wealth management division met in Scottsdale, Arizona to discuss the minimal presence of women occupying senior roles within the company. The meeting, dubbed "the meeting of 12", represented the majority of the regional managing directors, of which 12 out of 45 are women.[125]Wells Fargo had previously been investigating reports of gender bias in the division in the months leading up to the meeting.[126]The women reported that they had been turned down for top jobs despite their qualifications, and instead the roles were occupied by men.[126]There were also complaints against company president Jay Welker, who is also the head of the Wells Fargo wealth management division, due to his sexist statements regarding female employees. The female workers claimed that he called them "girls" and said that they "should be at home taking care of their children."[126]Auto insurance[edit]On June 10, 2019, Wells Fargo settled a lawsuit for $ 385 million that was filed in 2017 concerning their customers andNational General Insurance.[127]CEO-to-worker pay ratio[edit]Pursuant to Section 953(b) of the Dodd-Frank Wall Street Reform and Consumer Protection Act, publicly traded companies are required to disclose (1) the median total annual compensation of all employees other than the CEO and (2) the ratio of the CEO’s annual total compensation to that of the median employee.[128]Total 2018 compensation for Timothy J. Sloan, CEO, was $18,426,734, and total compensation for the median employee was estimated to be $65,191. The resulting pay ratio was determined to be 283:1.[129]See also[edit]San Francisco Bay Area portalCompanies portalBanks portalList of Wells Fargo directorsList of Wells Fargo presidentsWells Fargo ArenaWells Fargo Center

Hardly, our economy is better than it ever has been since the 1960s. Here are some of the things our President has accomplished in less than three years in spite of the constant roadblocks put in his path by the Democrats in the House:President Trump’s Accomplishments So Far1. Nominated and got appointee Supreme Court Judge Gorsuch and Kavanaugh.2. 59 missiles dropped in Syria3. He took us out of TPP4. Illegal immigration is now down 70% (the lowest in 17 years)5. Consumer confidence highest since 2000 at index 125.66. Mortgage applications for new homes rise to a 7 year high7. Arranged 20% tariff on soft lumber from Canada8. Bids for border wall are well underway9. Pulled out of the lopsided Paris accord10. Keystone pipeline approved11. NATO allies boosted spending by 4.3%12. Allowing VA to terminate bad employees13. Allowing private healthcare choices for veterans14. More than 600,000 jobs created15. Median household income at a 7 year high16. The stock market is at the highest ever in its history17. China agreed to American import of beef18. $89 billion saved in regulation rollbacks19. Rollback of a regulation to boost coal mining20. MOAB for ISIS21. Travel ban reinstated22. Executive order for religious freedom23. Jump started NASA24. $600 million cut from UN peacekeeping budget25. Targeting of MS13 gangs26. Deporting violent illegal immigrants27. Signed 41 bills to date28. Created a commission on child trafficking29. Created a commission on voter fraud30. Created a commission for opioids addiction31. Giving power to states to drug test unemployment recipients32. Unemployment lowest since may 200733. Historic Black College University initiative34. Women In Entrepreneurship Act35. Created an office or illegal immigrant crime victims.36. Reversed Dodd-Frank37. Repealed DOT ruling which would have taken power away from local governments for infrastructure planning38. Order to stop crime against law enforcement39. End of DAPA program40. Stopped companies from moving out of America41. Promoted businesses to create American jobs42. Encouraged country to once again buy American and hire American43. Cutting regulations two for every one created44. Review of all trade agreements to make sure they are America first45. Apprentice program46. Highest manufacturing surge in 3 years47 $78 Billion promised reinvestment from major businesses like Exxon, Bayer, Apple, SoftBank, Toyota…48. Denied FBI a new building49. $700 million saved with F-35 renegotiation50. Saves $22 million by reducing white house payroll51. Dept of treasury reports a $182 billion surplus for April 2017 (2nd largest in history)52. Negotiated the release of 6 US humanitarian workers held captive in Egypt53. Gas prices lowest in more than 12 years54. Signed An Executive Order To Promote Energy Independence And Economic Growth55. Has already accomplished more to stop government interference into people’s lives than any President in the history of America56. President Trump has worked with Congress to pass more legislation in his first 100 days than any President since Truman57. Has given the head executive of each branch 6-month time frame dated March 15, 2017, restructured and improved the efficacy of their branch58. Signed executive order on the Establishment of Office of Trade and Manufacturing Policy59. Signed an executive order aimed at expanding offshore drilling60. Signed a memo directing an investigation into aluminum imports, and an order aimed at cleaning up Veterans Affairs61. Signed two executive orders, including one directing a review of national monument designations under prior administrations62. Signed an executive order intended to boost the agriculture industry, and participated in a farmers’ roundtable63. Signed proclamation on Holocaust Remembrance64. Signed financial services executive orders at the Treasury Dept65. Signed a memo ordering a probe into whether foreign steel is hurting U.S. national security66. Signed the Veterans Choice Program Extension and Improvement Act67. Signed the Buy American Hire American executive order68. Signed bill allowing states to block Planned Parenthood funding69. Signed two executive orders on trade aimed at reducing the trade deficit70. Signed an executive order establishing a commission on drug and opioid abuse71. Signed an executive order on energy independence at EPA headquarters72. Signs bill rolling back regulations via the Congressional Review Act73. Signed a bill on space exploration74. Signed an order directing a top-to-bottom audit of the Executive Branch75. Signed revised executive order suspending the U.S. refugee program and entry for travelers from six mostly Muslim countries76. Signed an order calling for a review of the “waters of the United States” environmental regulation, and another order moving the HBCU (Historically Black College and Universities) offices back from the Education Department to the White House77. Signed two resolutions, one encouraging women at NASA and another promoting women in entrepreneurship78. Signed bill nixing a Social Security Administration rule regarding gun background checks79. Signed an executive order directing every agency to set up a task force to eliminate red tape80. Signed legislation undoing coal mining regulation81. Signed legislation rolling back part of the Dodd-Frank financial regulations. The legislation repeals a rule that requires oil and gas companies to disclose payments to the U.S. or foreign governments for commercial development82. Signed three orders creating DOJ task forces to combat crime and cartels83. Issued an executive order directing the Treasury secretary to review the 2010 Dodd-Frank financial regulatory law84. Issued a presidential memorandum instructing the Labor Department to delay implementing an Obama rule requiring financial professionals who are giving advice on retirement, and who charge commissions, to put their clients first85. Signed executive order instructing agencies that whenever they introduce a regulation, they must first abolish two others.86. Signed executive orders to restructure the National Security Council and Homeland Security Council and to extend bans on ex-administration officials working as lobbyists to five years — including a lifetime ban on ex-officials lobbying for foreign countries.87. Signed memorandum on fighting ISIS88. Signed an executive order imposing a 120-day suspension of the refugee program and a 90-day ban on travel to the U.S. from citizens of seven terror hot spots, including Iraq, Iran, Syria, Libya, Yemen, Somalia, and Sudan89. Signed orders dealing with immigration enforcement and border security. Measures called for constructing a U.S.-Mexico border wall, cutting funding to sanctuary cities, hiring thousands more border and immigration agents, toughening immigration enforcement and reinstating federal-local immigration partnerships90. Signed orders reviving consideration of the Keystone XL and Dakota Access pipelines, as well as additional actions aimed at expediting the permitting process and encouraging the use of U.S. steel91. Signed orders withdrawing the U.S. from the TPP trade deal; imposing a federal hiring freeze; and reinstating the ban on federal funding for abortion services in other countries92. Signs order telling agencies to ease the burden of Obama Care93. Signed legislation allowing retired Gen. James Mattis to serve as Defense secretary94. Passes Kate’s Law95. Passes No Sanctuary for Criminals ActTrump’s top 10 successes while in officeMARC A. THIESSENSaul Loeb / Agence France-Presse / Getty ImagesPresident Donald Trump meets with North Korean leader Kim Jong Un on June 12 at the start of their historic U.S.-North Korea summit in Singapore. Count this as one of Trump’s successes, but so has been his refusal to play the North Korean leader’s usual game.In his second year in office, the list of extraordinary things President Donald Trump has done, for good and ill, continued to grow. Today, I offer my annual list of the 10 best things Trump has done in office.10. He has secured the release of 19 people, including 16 Americans, from foreign captivity. When Pastor Andrew Brunson was freed by Turkey, he became the 19th captive released thanks to Trump. Others include: four held by North Korea; an aid worker and her husband held by Egypt; three UCLA basketball players and a Texas businesswoman held by China; a couple and their three children held by the Taliban; a former CIA officer held by Portugal; and two citizens held by Venezuela. That’s more Americans freed in two years than President Barack Obama got released in eight. And unlike Obama, Trump did it without releasing terrorist leaders or sending planeloads of cash to rogue regimes, creating incentive for more hostage taking.9. He delivered for the “forgotten Americans.” The Trump boom is benefiting those left behind by the Obama economy. Manufacturing jobs grew at the fastest rate in 23 years and the unemployment rate for Americans without a high school diploma reached the lowest point ever recorded. The Wall Street Journal reports that wages rose 3.1 percent — the biggest jump since 2009 — and that “low-skilled workers are among the biggest beneficiaries.”8. He worked with Democrats and Republicans to pass important legislation. Trump got a lot done on a bipartisan basis, including criminal justice reform, opioid and sex trafficking legislation, and a new “Right to Try” law giving dying Americans access to experimental medications.7. He has ushered in a golden age for women in the CIA. Trump not only appointed Gina Haspel as the agency’s first female director but also made Elizabeth Kimber the first woman to lead the agency’s clandestine service — rewarding the CIA’s “band of sisters” who have toiled to keep the country safe since 9/11.6. His push to expand domestic energy production bore fruit. This year the United States passed both Saudi Arabia and Russia as the world’s top oil producer.5. In the six months after the Singapore summit with North Korea, he has made no concessions to Pyongyang. North Korean dictator Kim Jong Un expected to blow up some useless nuclear facilities in exchange for billions in hard currency. Trump has refused to play Kim’s game.4. He struck Syria again and eliminated the last vestiges of the Islamic State’s physical caliphate. For a second time, he enforced Obama’s red line against the use of chemical weapons. In December, U.S.-backed fighters captured Hajin, the last pocket of territory held by the Islamic State. The militant group is far from defeated, but Trump is right that we have knocked “the hell out of ISIS.”3. He’s continued his tough line with Moscow. Trump announced America’s withdrawal from the Intermediate-Range Nuclear Forces Treaty, shipped Javelin antitank missiles to Ukraine, canceled a meeting with Putin at the Group of 20 summit over Russia’s seizure of Ukrainian navy ships, expelled dozens of Russian diplomats and imposed more sanctions against Moscow.2. He pulled out of Obama’s disastrous Iran deal and reimposed crippling sanctions on Tehran. The new sanctions have taken millions of barrels of Iranian oil off the market and led to the cancellation of major deals with European investors.1. He stood by Brett Kavanaugh and even in the worst moments never wavered. Trump has confirmed a record 85 judges in his first two years as president. That total includes two Supreme Court justices, 30 appellate court judges and 53 district judges who will preside for decades.There were many more accomplishments not included in this list. Trump got Mexico, Canada and South Korea to sign new trade deals. He continued his regulatory rollback, replacing Obama’s “Clean Power Plan” and his “Waters of the United States” rule and returning power to the states. He took on the International Criminal Court, which purports to have jurisdiction over U.S. soldiers and citizens. And his graceful handling of George H.W. Bush’s funeral brought dignity to the office.That is a strong record of success.NEED MORE?Now they know that they can’t beat him in an election, they are trying to impeach him for their crimes.Ukraine Confirms DNC/Clinton Operative Sought ‘Dirt’ On Trump During 2016 ElectionMAY 4, 2019 FEATURED, FOREIGN POLICYA former DNC operative steeped in Trump-Russia research approached the Ukrainian government looking for ‘dirt’ on then-candidate Donald Trump during the 2016 US election, according to The Hill‘s John Solomon – citing written answers to questions submitted to Ambassador Valeriy Chaly’s office.Top of FormBottom of FormPhoto Via Facebook screen grabChaly confirmed that DNC contractor of Ukrainian heritage, Alexandra Chalupa, approached Ukraine seeking information on Trump campaign chairman Paul Manafort’s dealings inside the country, in the hopes of exposing them to Congress.Chaly says that, at the time of the contacts in 2016, the embassy knew Chalupa primarily as a Ukrainian-American activist and learned only later of her ties to the DNC. He says the embassy considered her requests an inappropriate solicitation of interference in the U.S. election.“The Embassy got to know Ms. Chalupa because of her engagement with Ukrainian and other diasporas in Washington D.C., and not in her DNC capacity. We’ve learned about her DNC involvement later,” Chaly said in a statement issued by his embassy. “We were surprised to see Alexandra’s interest in Mr. Paul Manafort’s case. It was her own cause. The Embassy representatives unambiguously refused to get involved in any way, as we were convinced that this is a strictly U.S. domestic matter.“All ideas floated by Alexandra were related to approaching a Member of Congress with a purpose to initiate hearings on Paul Manafort or letting an investigative journalist ask President Poroshenko a question about Mr. Manafort during his public talk in Washington, D.C.,” the ambassador explained. –The HillChalupa, who told Politico in 2017 that she had “developed a network of sources in Kiev and Washington, including investigative journalists, government officials and private intelligence operatives,” said she “occasionally shared her findings with officials from the DNC and Clinton’s campaign.”What’s more, as the Daily Caller‘s Chuck Ross noted in March, 2017, Chalupa worked with “a convicted domestic terrorist-turned-activist” known as the “Speedway Bomber.”That work culminated in a Washington, D.C. meeting in December between the ex-DNC operative, Alexandra Chalupa, the convicted bomber, Brett Kimberlin, and a South Africa-born Israeli man named Yoni Ariel.Ariel, whose real name is Jonathan Schwartz, traveled to Washington, D.C. to brief Chalupa and Kimberlin on his knowledge of Russia’s activities during the campaign.Chalupa, an activist of Ukrainian heritage who is strongly opposed to Trump, also directed Ariel to the Justice Department, sources told TheDC.