Saturday, July 23, 2016
1012 C Street  •  Floresville, TX 78114  •  Phone: 830-216-4519  •  Fax: 830-393-3219  • 

WCN Site Search


Preview the Paper Preview the Paper

Preview this week's Paper
A limited number of pages are displayed in this preview.
Preview this Week’s Issue ›
Subscribe Today ›

Lost & Found

Our beloved Gracie is missing, Dachshund/Lab mix, microchipped, about 30 pounds, black with little white. Call with any information, 830-393-9999 or 419-250-9099.
Lost: Keys in Elmendorf. If found call 210-913-2312.
*Includes FREE photo online! mywcn.com/lostandfound
More Lost & Found ads ›

Help Wanted

Caregivers needed. Call 830-625-0444.
Be skeptical of ads that say you can make lots of money working from the comfort of your home. If this were true, wouldn’t we all be working at home?
More Help Wanted ads ›

Featured Videos





Video Vault ›
Budget BlindsPursch with auto packageShowcase

Breaking News


Multistate Coalition Reaches $58.75 Million Settlement with Wachovia




E-Mail this Story to a Friend
Print this Story
Attorney General
December 8, 2011, 2:00pm
1,847 views | Post a comment

AUSTIN -- Texas Attorney General Greg Abbott and 25 other state attorneys general today reached a $58.75 million agreement with Wachovia Bank N.A. that will resolve the States’ antitrust investigation into the bank’s marketing of municipal derivatives.

Under the agreement, $54.5 million in restitution will be available to eligible governmental and nonprofit entities that entered into municipal derivative agreements with Wachovia between 1998 and 2004.

Qualifying governmental and nonprofit entities will be notified if they are eligible for restitution. To obtain the dollars available to them under the settlement, eligible entities must submit a claim and follow the process provided in the agreement. Texas-based entities are eligible for approximately $2.7 million in restitution from Wachovia.

The agreement negotiated by the multistate coalition addresses unlawful conduct that was investigated, in part, by the Securities and Exchange Commission (SEC), the Office of the Comptroller of the Currency (OCC) and the Internal Revenue Service. Under today’s agreement, Wachovia will also pay $3 million directly to the working group as an additional payment for investigative costs and fees and a $1.25 million civil penalty. Today’s agreement also requires Wachovia’s continued cooperation with the States’ ongoing investigation.

Texas played a lead role in the multistate effort, which included state attorneys general from Alabama, California, Colorado, Connecticut, District of Columbia, Florida, Idaho, Illinois, Iowa, Kansas, Maryland, Massachusetts, Michigan, Missouri, Montana, Nevada, New Jersey, New York, North Carolina, Ohio, Oregon, Pennsylvania, South Carolina, Tennessee and Wisconsin.

Thus far, the multistate coalition has secured agreements with Bank of America, JPMorgan Chase & Co., Wachovia Bank and Switzerland-based UBS AG totaling nearly $310 million to remedy anticompetitive conduct in the municipal derivatives market.
 

Your Opinions and Comments


Be the first to comment on this story!


You must be logged in to post a comment.




Not a subscriber?
Subscriber, but no password?
Forgot password?

Breaking News Archives


Malcolm's Custom Welding
WCN Citizens Forum 5/28/15
Southern Electric
Heavenly Touch homeVoncille Bielefeld homeAllstate & McBride RealtyTriple R DC Experts

  Copyright © 2007-2016 Wilson County News. All rights reserved. Web development by Drewa Designs.