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Get to know Golden West, A Financial Corporation

Founded in 1929 and famously run by Herbert and Marion Sandler from the 1960s, Golden West Financial Corporation grew to become the second-largest savings and loan association in the United States. The company, through its subsidiary World Savings Bank, pioneered and heavily marketed a type of adjustable-rate mortgage known as the "Pick-A-Payment" loan or Option ARM. While initially praised for its conservative underwriting, its massive portfolio of these exotic mortgages was later viewed as a significant risk. In 2006, Golden West was acquired by Wachovia for $25.5 billion. This portfolio of loans is widely cited by financial analysts and government reports as a primary factor in the subsequent collapse of Wachovia during the 2008 financial crisis, which led to its emergency acquisition by Wells Fargo.

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Golden West, A Financial Corporation

United States

Founded in

1992 (34 Years)

Founded

Last online: No recent activity

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Regulated

Recommended

(74 reviews)

Cyprus

2009

(17 years)

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A Grade License

Issued by globally renowned regulators, these licenses ensure the highest trader protection through strict compliance, fund segregation, insurance, and regular audits. Dispute resolution and adherence to AML/CTF standards further enhance security.

B Grade License

Granted by respected regional regulators, these licenses offer robust safety measures such as fund segregation, financial reporting, and compensation schemes. Though slightly less strict than Tier 1, they provide dependable regional protection.

C Grade License

Issued by regulators in emerging markets, these licenses offer basic protections such as minimum capital requirements and AML policies. Oversight is less stringent, so traders should exercise caution and verify safety measures.

D Grade License

From jurisdictions with minimal oversight, these licenses often lack key protections like fund segregation and insurance. While attractive for operational flexibility, they pose higher risks to traders.

TrustFinance is not a licensed financial advisor and is not affiliated with any financial institutions in your region. We encourage you to do your own research before making any investment decisions.