Wells Fargo Issues Statement on 2017 Resolution Plan Feedback by Federal Reserve and FDIC
December 19 2017 - 4:32PM
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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