Wachovia will merge into Wells Fargo later this month

Sister-in-law, who works in a bank, is sharing this information, saying she didn't know if we heard about this banking merger announced today.

http://www.bankersonline.com/topstory/topstory.html

Posted March 18, 2010
Wachovia to Pay $160 CMP and Forfeiture
The OCC has announced a $50 million Civil Money Penalty (CMP) and a Cease and Desist Order against Wachovia Bank, N.A. for violations of the BSA as part of a coordinated action with the Department of Justice, Financial Crimes Enforcement Center and other federal agencies. Wachovia also entered into a deferred prosecution agreement with the U.S. Attorney’s Office in the Southern District of Florida and the Asset Forfeiture and Money Laundering Section of the Criminal Division of the Department of Justice and agreed to forfeit $110 million to the United States. CMP; Consent Order; OCC NR; Justice PR 3/18/10

More information: http://www.occ.treas.gov/ftp/release/2010-30a.pdf