The term 'Wells Fargo' is a reference to the American financial services company Wells Fargo & Company. Founded in 1852, it is one of the oldest banking institutions in the United States and is currently the fourth largest bank in the country. The name 'Wells Fargo' is derived from two of the company's original founders, Henry Wells and William Fargo. The company is best known for its banking, insurance, investments, mortgage, and retail services.