Fed approves purchase of Wachovia

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The Federal Reserve approved Wells Fargo’s $11.7 billion purchase of Charlottes, N.C.-based Wachovia. Wells Fargo, based in San Francisco, wants to complete the sale by the end of the year. Wachovia shareholders must still approve the deal. (The Associated Press

The gender pay gap is wider in the Hampton Roads region than it is in Richmond, according to Old Dominion University economists. Some economists attribute the difference to the number of “trailing” military spouses in Hampton Roads. (The Virginian-Pilot)

Community banks are seeing an influx of deposits as people are concerned about the safety of their money in larger banks. (The Washington Post

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