SAN FRANCISCO--(BUSINESS WIRE)--
Wells Fargo & Company (NYSE:WFC) today issued the following statement regarding the Board of Governors of the Federal Reserve System and the Federal Deposit Insurance Corporation’s (FDIC) joint response to its 2017 resolution plan submission under the “living will” process of the Dodd-Frank Wall Street Reform and Consumer Protection Act:
“We are pleased that the Federal Reserve and FDIC found our 2017 Resolution Plan to be free of deficiencies. We will address the feedback we received from the agencies and are committed to continuing to strengthen Wells Fargo’s resolution planning capabilities. We will continue to dedicate significant resources across the company to ensure that Wells Fargo can be resolved without posing systemic risk to the financial system.”
About Wells Fargo
Wells Fargo & Company (NYSE:WFC) is a diversified, community-based financial services company with $1.9 trillion in assets. Wells Fargo’s vision is to satisfy our customers’ financial needs and help them succeed financially. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, insurance, investments, mortgage, and consumer and commercial finance through more than 8,400 locations, 13,000 ATMs, the internet (wellsfargo.com) and mobile banking, and has offices in 42 countries and territories to support customers who conduct business in the global economy. With approximately 268,000 team members, Wells Fargo serves one in three households in the United States. Wells Fargo & Company was ranked No. 25 on Fortune’s 2017 rankings of America’s largest corporations.
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