A completely online banking institution with high-interest s …
Wachovia, based in Charlotte, North Carolina, is a diversified, wholly owned financial services subsidiary of Wells Fargo. As an independent company, it was the fourth-largest bank holding company in the United States based on total assets.
The purchase of Wachovia Corporation by Wells Fargo was completed on December 31, 2008. Wells Fargo purchased Wachovia after a government-forced sale to avoid a failure of Wachovia.
Starting in 2009, the Wachovia brand will be absorbed into the Wells Fargo brand in a process that was initially estimated to last three years. In July 2009, Wachovia Securities became Wells Fargo Advisors.The merger of Wells Fargo and Wachovia bank charters is scheduled for completion in March 2010.