Wells Fargo's Cross Selling Strategies

Political factor: One of the more(prenominal)(prenominal) important factors regarding the US banking systems analysis

Particularly in the United States, the bear on between politics and banking has always been strong and notably with lobbies so that the US government was used to helping the banking system when crisis affect the country but was also used to withdrawing during auspicious periods. These atomic number 18 partly the reasons why surface Fargo weathered the World Wars or knew the governments support in 1999 with the Gramm-Leach-Bliley Act.
Nevertheless, there is a current example too, which shows how far the government is able to go to help the US banking system to prevent it from collapsing: on October 28, 2008, Wells Fargo and Company was the recipient of $25 B of the Emergency economical Stabilization Act Federal Bail-out in the form of a preferred stock purchase.

Economic factor

This factor remains all important(p) since it is a determining factor to the good health of the banking system.
Indeed, the overthrow of banks is partly made thanks to households and companies, so that during crisis times, customers get more into debt and have trouble to pay off. On the contrary, when the conjuncture is good state decide to invest.




That is the reason why the Great Depression of 1929 was a black period for the banking system since most of the competition was wiped out. However, WF succeeded in getting out while the going is good and in the end weathered the Depression.

Socio-cultural factor

Since the beginning of the 1980s, mentalities have been changing: Not however is consumerism deeply inked in the peoples mentality but also a huge maturation occurred regarding the worldwide banking system with the famous deregulating so that it may entice people to buy more financial products.

Technological factor

Within the framework of the Internet development, the proficient factor represents a central factor to understand the evolution of organizations and strategies in the banking system over...If you want to get a upright essay, order it on our website: Orderessay



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