Wells Fargo has been in business for over 160 years and was founded on March 18, 1852, by Henry Wells and William Fargo. The company opened its first office, in San Francisco, on July 1852. Wells Fargo served the West with banking needs, which included gold and paper bank drafts, and offered quick delivery of gold or other valuables. In1855, the first of many financial dilemmas took place when a drought made it impossible to mine for gold, and this caused almost 200 businesses in San Francisco to fail, but Wells Fargo didn’t fail, they prospered. In the early1860s, Wells Fargo acquired almost all the stage lines from the Missouri River to California, giving them a monopoly on transcontinental delivery services. At the end of the 1860s, Wells …show more content…
The "Treaty of Omaha," marked the transfer of control over the revitalized Wells Fargo Bank. Wells Fargo's express service ended in 1918 with the merger of the three big express companies forming the American Railway Express. In 1967 Wells Fargo, together with three other California banks, introduced a Master Charge card to its customers as part of its plan to succeed. Wells Fargo’s vision and values have always been to help customers succeed financially, and they have done this by reinventing themselves over and over again. The red and gold Concord stagecoach is Wells Fargo's corporate symbol. J. Stephens Abbot and Lewis Downing built the Concord stagecoach, which was built high and wide to handle rough terrain, and had a curved frame for strength and elbow room as the stagecoaches could carry nine passengers inside and six outside, including driver and shotgun messenger. The stagecoaches weighed about 2,500 pounds with a cost of $1,100. At that time transportation was mostly by sea, and stagecoaches connected communities as the United States grew. Stagecoaches could go to places where there was no other transportation. Stagecoaches were pivotal in the success of Wells Fargo’s express business, and the expansion of their …show more content…
Stagecoaches carried news, mail, and passengers where trains did not go. Stagecoaches are a symbol of the Wells Fargo image, heritage, and values, which they strive to present it to communities. In 1958, Wells Fargo Bank presented a stagecoach on parade, and today Wells Fargo stagecoaches can still be seen in parades. The original Abbot-Downing Concord Coaches are displayed in the Wells Fargo history museums and exhibits across the country. Wells Fargo today is the result of more than 1,500 mergers. The bank has over 70 million customers and 263,000 team members. It has over 9,000 stores and offices in every state and serves more communities than any other bank in the United States. It is the largest residential mortgage originator and servicer, funding nearly one in four domestic mortgages in the second quarter in 2017. Wells Fargo has contributed more than 286.5 million to over 14,500 nonprofits last year. It is the largest employer that gives to the United Way. Their employees have volunteered over 2 million hours to help those in need. They have given out over 38 million in grants and loans which they distributed to 30 Community Development Financial Institutions, and these grants and loans help support diverse
The Founders Club is one of Florida’s pre-eminent country club and golf communities. The Founders Club offers over 700 meticulously landscaped acres with 262 homes featuring golf, lake, or preserve views. Residents of the Founders Club enjoy the peace and serenity offered by a private community, yet gain easy access to some of the most popular dining, shopping and entertainment throughout Sarasota. The Founders Club offers signature amenities for each resident that includes a classic Robert Trent Jones constructed 18-hole golf course.
Ernie Banks was one of the best baseball players in the MLB. He set many records for the Chicago Cubs. Ernie was one of the best Chicago has ever had. Being an athlete since birth, it was not hard to believe that his stats were the best in the majors. Ernie also showed his dedication by staying with the Cubs until his death.
The trains were needed to transport coal back to markets to run steam engines. Denver and Rio Grande Western Railroad William J.
Is Andrew Jackson a hero or villain? Andrew Jackson a man of many names, but also a man of many crimes. Andrew Jackson is a hero to most but to some like the Natives he is a villain. Jackson is a villain because he was the soul inspiration of the Trail of Tears, National Bank changes and he started the Indian Removal act The Indian Removal act started in 1830 when Jackson made it so he could grant the unsettled lands west of the mississippi river.
Pioneers' movement West created demand for means of transportation to new territories.” Populations that desired to expand and travel would have benefited from railroads, because they provided fast and safe transportation. Railroads could not only haul coal and iron, but they could haul farmers’, miners’, and loggers’ products. The Library of Congress states, “Railroads were necessary to transport the farms' harvests to the cities. At the same time, railroads also supported an industrial boom fueled by the exploitation of natural resources.
The New Deal was Franklin D. Roosevelt’s (FDR) response to handle the great depression. FDR created many different programs to help employ the unemployed, build financial and economic growth as well as security. As well as created agencies to ensure the health and wellbeing of those people who are over 65 with the Social Security Act. (Volpe)
By 1918 Wells Fargo was among the 10000 communities. That year the express network taken over by the Federal government as part of First World War and Wells Fargo left with one bank in San Francisco. Wells Forgo earned reputation from the events and tremendous growth of 20th century. In depression and war, even greater post war prosperity, social changes and faster communications technologies, Wells Fargo’s focus was only the customers’ business and it has seen it through great events and brought prosperity.
BGSU vs. TU As scary as it can be, choosing a college is a huge life decision. The next 4 or 5 years of my life are basically determined by which college I choose. Not only will it determine how I live for the next few years, but also how I live for the rest of my life. I am currently trying to choose between attending Bowling Green State University or Tiffin University.
Receiving the Coolidge Scholarship will make a tremendous difference in my life. I've always wanted to go to a high ranking college since I was a kid. And since college fees has been on constant increase, it's more difficult to pay for college. It's not that I won't apply for the FAFSA and other kinds of loans; it's just that I don't want to live most of my youth life paying off college loans. According to an article by US news, "Student Loan Expectations: Myth vs. Reality," "the standard repayment plan for federal student loans puts borrowers on a 10-year track to pay off their debt, but research has shown the average bachelor's degree holder takes 21 years to pay off his or her loans.
By making the travel process easier, the railroads “lowered the final cost of manufactured goods in a number of industries and so increased the demand for their products” (Chandler 1965, 22). The railroad not only affected the West, but also impacted the Northeast, an already successful area financially. Regardless, “this sudden growth of a new transportation system stimulated the swift settlement of the Old Northwest,” an area previously unfamiliar to the effects of financial success (Chandler 1965, 21). The railroad had a profound impact on the financial development of the West, as it opened up new routes and encouraged the settlement of an area new to the effects of
The presidential election of 1836 is approaching. Besides heating discussions of the nominees such as Willie Person Mangum, we should also look back into Andrew Jackson’s presidency and ask ourselves: what type of president he is? Andrew Jackson was elected as the President of the United States in 1829 and was re-elected in 1834. Born in poverty and became a successful self-made man, Jackson won the popular vote with a lie that he would be a “President of the People” and a “Spokesman of the Common Man”; being a military hero at the Battle of New Orleans, he failed his obligation to protect the 12 million people in America, but instead trying to turn the whole country into a place where the people were his soldiers and he would be the Commander
What is the importance of the American federal reserve system and to what degree has it been beneficial to the stability and growth of the American economy? Many Americans, since the foundation of the United States, have been circumspect of a banking system that puts its power in the government’s hands. Despite this, Alexander Hamilton, the first secretary of the Treasury, put forth great efforts to establish the First Bank of the United States in 1791, and the Second Bank in 1816. Then, in 1913, the Federal Reserve Act was passed, creating a Federal Reserve System---allowing the United States Central Bank to issue uniform currency in the form of Federal Notes---and created twelve federal reserve banks across the nation. Together, these advancements
USPS (United States Postal Service) is a mail and shipping company that is authorized by the U.S. Government to perform postal services in public interest, as well as commercial postal activities to meet personal and business mailing needs of U.S. citizens and support its work. USPS serves the needs of customers on over 30,000 USPS locations in the country and has a transport fleet of over 200,000 vehicles. The USPS network consists of various types of retail spots that provide mail pickup and additional government-authorized services, as well as of USPS mailboxes that are used for mail drop offs at U.S. residential and business addresses. USPS post offices offer reliable ground delivery for less-than-urgent shipments and priority mail services
We may never fully understand the reasons for the decline of the community bank but, it is heartening to see the vacuum being filled by hedge funds, private equity firms and others. More than one-half of American workers owe their jobs to small business and hedge funds are saving and creating those jobs by engaging this
early stages of the scandal, the San Francisco based financial institution was investigated by the local Los Angeles City’s Attorney and California state officials. Preliminary investigations revealed the extent of the fraud and malpractice predated as far back as 2011. As a result, on September 8, 2016, federal investigators followed suit and the Consumer Financial Protection Bureau Agency opened an investigation against Wells Fargo and handed a $185 million penalty to settle the dispute. This settlement would become the largest fine levied in the agency’s history. Of the $185 million, $100 million comprised of fines from the Consumer Financial Protection Bureau (CFPB), $50 million originated from the Los Angeles City Attorney’s Office, and