About Wells Fargo
Founded in 1852 as a bank and express delivery company, Wells Fargo offers a full range of banking services, including checking accounts, savings accounts, CDs, money market accounts and mortgages. Traditionally a West Coast oriented bank, the company’s reach grew tremendously with a 2008 acquisition of Charlotte-based Wachovia.
In 2016, the Consumer Financial Protection Bureau fined Wells Fargo $100 million for the widespread illegal practice of secretly opening unauthorized accounts, which has prompted the bank to revisit how it approaches sales.
If being able to visit a branch or go to your bank’s ATM nearly everywhere, Wells Fargo is a good fit for you. If you want to take advantage of higher rates on deposits, this bank isn’t your best choice.