Wells Fargo & Company is an American multinational financial services company headquartered in San Francisco, with central offices throughout the United States. It is the world's fourth-largest bank by market capitalization and the fourth largest bank in the US by total assets. Wells Fargo is ranked number 26 on the 2018 Fortune 500 rankings of the largest US corporations by total revenue. In July 2015, Wells Fargo became the world's largest bank by market capitalization, edging past ICBC, 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. Wells Fargo fell behind Bank of America to third by bank deposits in 2017 and behind Citigroup to fourth by total assets in 2018. Wells Fargo is incorporated in Delaware; 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, Citigroup, Wells Fargo is one of the "Big Four Banks" of the United States; as of June 2018, it had 13,000 ATMs. In 2018 the company had operations in 35 countries with over 70 million customers globally. In February 2014, Wells Fargo was named the world's most valuable bank brand for the second consecutive year in The Banker and Brand Finance study of the top 500 banking brands. In 2016, Wells Fargo ranked 7th on the Forbes 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. In 2015, the company was ranked the 22nd most admired company in the world, the 7th most respected company in the world; as of December 2018, the company had a Standard & Poors credit rating of A−. However, for a brief period in 2007, the company was the only AAA‑rated bank, reflecting the highest credit rating from two firms.
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. 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 into retirement funds managed by Wells Fargo itself. 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. In June 2018, Wells Fargo began retreating from retail banking in the Midwestern United States by announcing the sale of all its physical bank branch locations in Indiana and Ohio to Flagstar Bank; the company operates 12 museums, most known as a Wells Fargo History Museum, in its corporate buildings in Charlotte, North Carolina.
Displays include original stagecoaches, gold nuggets and mining artifacts, the Pony Express, telegraph equipment and historic bank artifacts. The company operates a museum about company history in the Pony Express Terminal in Old Sacramento State Historic Park in Sacramento, the company's second office, the Wells Fargo History Museum in Old Town San Diego State Historic Park in San Diego, California. Wells Fargo operates the Alaska Heritage Museum in Anchorage, which features a large collection of Alaskan Native artifacts, ivory carvings and baskets, fine art by Alaskan artists, displays about Wells Fargo history in the Alaskan Gold Rush era. 1852: 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 and Overland Mail stage lines under the Wells Fargo name.
1872: Lloyd Tevis, a friend of the Central Pacific "Big Four" and holder of rights to operate an express service over the Transcontinental Railroad, acquires control of the company. 1905: Wells Fargo separated its banking and express operations. 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'
George Taro "Joe" Sakato was an American combat soldier of World War II who received the Medal of Honor, the nation's highest military award for valor. Sakato was born in California, he was a Nisei, which means that he was a second generation born American citizen of Japanese descent. He graduated from Redlands High School in California; the Sakato family moved to Arizona during World War II to avoid internment. Sakato joined the US Army in March 1944, he volunteered to be part of the all-Nisei 442nd Regimental Combat Team and was assigned to 3rd platoon, Company E, 2nd Battalion. The US Army unit was made up of Americans of Japanese descent from Hawaii and the mainland. Sakato was awarded the Distinguished Service Cross for extraordinary heroism on October 29, 1944 in France. In the 1990s, there was a review of US military service records of Americans of Asian descent who received the DSC during World War II. Sakato's award was upgraded to the Medal of Honor. President Bill Clinton presented Sakato the Medal of Honor during a ceremony at the White House on June 21, 2000.
Twenty-one other American servicemen of World War II of Asian descent were presented the Medal of Honor during the ceremony, but only seven were living recipients. Sakato died in the evening of December 2, 2015 in Denver, Colorado, at the age of 94. Sakato's Medal of Honor recognized his heroic conduct in frontline fighting in northern France in 1944, he charged an enemy stronghold, took command of his platoon and led it in defense of the position. CITATION: Private George T. Sakato distinguished himself by extraordinary heroism in action on 29 October 1944, on hill 617 in the vicinity of Biffontaine, France. After his platoon had destroyed two enemy defense lines, during which he killed five enemy soldiers and captured four, his unit was pinned down by heavy enemy fire. Disregarding the enemy fire, Private Sakato made a one-man rush that encouraged his platoon to charge and destroy the enemy strongpoint. While his platoon was reorganizing, he proved to be the inspiration of his squad in halting a counter-attack on the left flank during which his squad leader was killed.
Taking charge of the squad, he continued his relentless tactics, using an enemy rifle and P-38 pistol to stop an organized enemy attack. During this entire action, he killed 12 and wounded two captured four and assisted his platoon in taking 34 prisoners. By continuously ignoring enemy fire, by his gallant courage and fighting spirit, he turned impending defeat into victory and helped his platoon complete its mission. Private Sakato's extraordinary heroism and devotion to duty are in keeping with the highest traditions of military service and reflect great credit on him, his unit, the United States Army. List of Medal of Honor recipients for World War II List of Asian American Medal of Honor recipients List of living Medal of Honor recipients Media related to George Sakato at Wikimedia Commons "Army Secretary Lionizes 22 World War II Heroes" at Defense.gov
In Azerbaijan, migration policy is handled by the State Migration Service, appropriate departments of Ministry of Labor and Social Protection of Population, Ministry of Healthcare, Ministry of Foreign Affairs, Ministry of İnternal Affairs, State Border Service, State Committee of Republic of Azerbaijan for Refugees and IDPs and State Security Service. Migration Code, Law on Citizenship, Law on Immigration are the foundations of migration policy in Azerbaijan. An independent migration office - State Migration Service was established on March 19, 2007 to regulate fast-paced migrant and prepare comprehensive and efficient migration policies. After gaining independence in 1991, Azerbaijan faced with the significant wave of emigration of its citizens abroad because of the hardships the country was hit by, such as unstable political situation, economic slowdown and internal movement of refugees and IDPs due to Nagorno Karabakh conflict; as years passed, increasing role of the country as a transit country, economic development and implementation of large-scale projects in the fields of energy and transport enabled Azerbaijan to attract growing number of immigrants.
Azerbaijan confronted with many-sided problems in the migration processes, therefore a number of actions have been carried out in this field to handle them. Adopting Stated Migration Policy Concept, approving State Migration Program for 2006-2008, establishing State Migration Service were among those actions. Moreover, a Task Force composed of representatives of public bodies was formed to work on the introduction of bio-metric identification. State Program on Bio-metric Identification in the Republic of Azerbaijan was compiled on their recommendations and approved by Ilham Aliyev on February 13, 2007; the Law on National Identity Card of the Republic of Azerbaijan was amended in December 2011 to provide identity cards carry electronic chips containing personal information. Azerbaijan joined he UN Convention on the Protection of the Rights of All Migrant Workers and Members of their Families and Palermo Protocols related to trafficking in persons and smuggling of migrants. Decree on the development of migration management system dated 5 August 2008, Order on Integrated Migration Information System dated 6 February 2009, implementation of “Single Window” system on State Migration Service’s activities starting from 4 March 2009, issuing law-enforcement body status to State Migration Service on 8 April 2009 are among the core activities to improve migration management system.
State Migration Management Policy Concept of the Republic of Azerbaijan was approved by the Cabinet of Ministers on 13 July 2004 taking into account the necessity of defining state policy on migration issues for the preparation of the State Migration Program. The concept contains 4 sections: in addition to general provisions and migration related situation in Azerbaijan, these include goals and objectives of migration policy, as well as the mechanism for implementation of Azerbaijan’s state migration policy; the main directions for Azerbaijan’s state migration policy are: ensuring control over migration processes in Azerbaijan and preventing illegal migration. The main mechanisms for implementing the concept are: improving the legislation of the Republic of Azerbaijan on migration; the State Migration Policy Concept of Azerbaijan was followed by the State Migration Program of the Republic of Azerbaijan for 2006-2008. The Program was approved by the President of Azerbaijan on 25 July 2006; this Program was set up to implement required actions in order to achieve the objectives mentioned in the Migration Policy Concept.
The Program contains 3 sections - general information and characteristics of migration related processes of Azerbaijan, main directions of state migration policy of Azerbaijan and international cooperation in this area. In addition, measures to be implemented within the framework of the State Migration Program are defined. According to the Program, the main purpose of state migration policy of Azerbaijan is to regulate migration flows while ensuring national security and interests of Azerbaijani Republic and prevent negative consequences of uncontrolled migration processes; the main objectives of migration policy of Azerbaijan are defined in the Program as efficient use of migration processes for the country’s development. Implementation of the state migration policy implies the activities of the relevant state bodies in the following main directions within the framework of this State Program: improving the migration management mechanism.