Wells Fargo and Citigroup Fighting Over Wachovia Bank
Friday October 3, 2008
Earlier this week, it was announced that Citigroup would be acquiring the troubled banking operations of Wachovia.
Now however, Wells Fargo has announced that it will be acquiring Wachovia for $15 billion dollars.
Citigroup of course, is none to pleased and has threatened to file suit to stop the acquisition. Citigroup claims as well, that the FDIC stands behind their original plans for acquisition.
Wachovia, Citigroup, and Wells Fargo all offer Coverdell ESA's and UTMA / UGMA custodial accounts for parents saving for college. Wachovia also administers an Evergreen managed balanced plan for North Carolina's Section 529 plan. Wells Fargo serves as the plan manger for Wisonsin's EdVest Section 529 plan.
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Comments
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