Marketwatch cites an email from Wells Fargo which states:

“The receipt of TARP funds does not specifically say that we can not renew visas … [but] there are much more stringent expectations around it,” the email said. “Due to the fact that we have and will be displacing numerous U.S. citizens in your same positions Wells Fargo has decided to enforce a policy that prohibits lines of businesses to file visa sponsorships for foreign nationals that would hold positions that could otherwise be held by qualified U.S. citizens.”

“As a recipient of these funds we feel as a company we could not justify to our political officials the need to provide sponsorship,” the email added.”

the email was evidently sent to some foreign workers from Wells HR.  The displacement line of reasoning is probably questionable or at best over broad as it applies to Wells’ entire foreign work force.