Did Wells Fargo Management Know? Should They Have?? [Editor’s Note: The views expressed here are solely those of Ross Kaplan, and do not represent Edina Realty, Berkshire Hathaway, or any other entity referenced.] Unh-unh. Wrong answer. When you get paid almost $20 million a year to manage banking behemoth Wells Fargo, you don’t get to say...Read More
Lawsuit: ‘Bank Overcharged for Flood Zone Determinations’ If you bought a home or refinanced with a Wells Fargo mortgage between August 30, 2011 and December 31, 2013, you may be entitled to a share of a class action suit against Wells Fargo. A very small share — like, $9.50 per claimant. The suit — formally...Read More
Uptown Minneapolis SA With TWO Cash Machines For anyone who’s rolled their eyes and twiddled their thumbs while the yahoo slow poke in front of them tried to decide what they wanted . . . the SuperAmerica at Lyndale and 22nd added a second ATM machine. Great idea! I can think of six more nearby spots, easy, that could benefit...Read More
Make That Four Theories (#4. Overreaction) In my post on Thursday, “National Moratorium on Foreclosures,” I puzzled over the seeming disconnect between the stocks of publicly-traded title insurance companies (barely affected), and the supposed tidal wave of claims headed their way due to defective mortgage foreclosures. I posited three possible explanations: 1) the aforementioned companies...Read More
Name the Country’s *Banking Capital See you how do on this quick financial quiz: In order of total market cap (“capitalization,” or entity value), calculated as of today (1/14/09), rank the following pairs of banks and their headquarters cities: —Citigroup and JP Morgan (New York City)–Bank of America and Wachovia (Charlotte)–Wells Fargo and U.S. Bank...Read More
