Wells Fargo & Company operates as a financial services company. The company’s principal subsidiary Wells Fargo Bank, N.A.
The company provides a diversified set of banking, investment and mortgage products and services, as well as consumer and commercial finance, to individuals, businesses and institutions, throughout the U.S., and in countries outside the U.S.
The company provides consumer financial products and services, including checking and savings accounts, credit and debit cards, and au...
Wells Fargo & Company operates as a financial services company. The company’s principal subsidiary Wells Fargo Bank, N.A.
The company provides a diversified set of banking, investment and mortgage products and services, as well as consumer and commercial finance, to individuals, businesses and institutions, throughout the U.S., and in countries outside the U.S.
The company provides consumer financial products and services, including checking and savings accounts, credit and debit cards, and auto, residential mortgage, and small business lending. In addition, the company offers financial planning, private banking, investment management, and fiduciary services. The company also provides financial solutions to businesses through products and services, including traditional commercial loans and lines of credit, letters of credit, asset-based lending and leasing, trade financing, treasury management, and investment banking services.
Segments
The company operates through four reportable operating segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management.
Consumer Banking and Lending offers diversified financial products and services for consumers and small businesses with annual sales. These financial products and services include checking and savings accounts, credit and debit cards, as well as home, auto, personal, and small business lending.
Commercial Banking provides financial solutions to private, family owned and certain public companies. Products and services include banking and credit products across multiple industry sectors and municipalities, secured lending and lease products, and treasury management.
Corporate and Investment Banking delivers a suite of capital markets, banking, and financial products and services to corporate, commercial real estate, government and institutional clients globally. Products and services include corporate banking, investment banking, treasury management, commercial real estate lending and servicing, equity and fixed income solutions, as well as sales, trading, and research capabilities.
Wealth and Investment Management provides personalized wealth management, brokerage, financial planning, lending, private banking, trust and fiduciary products and services to affluent, high-net worth and ultra-high-net worth clients. The company operates through financial advisors in its brokerage and wealth offices, consumer bank branches, independent offices, and digitally through Wells Trade and Intuitive Investor.
Corporate includes corporate treasury and enterprise functions, the company’s investment portfolio and venture capital and private equity investments.
Loans
As of December 31, 2024, the company’s loans included commercial loans, such as commercial and industrial loans (the U.S. and non-U.S.), commercial real estate mortgage loans, commercial real estate construction loans, and lease financing loans; and consumer loans, such as residential mortgage loans, credit card loans, auto loans, and other consumer loans.
Investment Securities
The company’s debt securities portfolio predominantly consists of liquid U.S. Treasury and federal agency debt, and agency mortgage-backed securities (MBS). The portfolio also includes securities issued by the U.S. states and political subdivisions and highly rated collateralized loan obligations (CLOs).
Deposits
As of December 31, 2024, the company’s deposits included noninterest-bearing demand deposits; interest-bearing demand deposits; savings deposits; time deposits; and interest-bearing deposits in non-U.S. offices.
Regulations
The company is a financial holding company and a bank holding company (BHC) registered under the Bank Holding Company Act of 1956, as amended (BHC Act).
As a BHC, the company is subject to regulation under the BHC Act and to inspection, examination and supervision by its primary regulator, the Board of Governors of the Federal Reserve System (Federal Reserve Board or FRB). The Parent is also subject to the disclosure and regulatory requirements of the Securities Act of 1933, as amended, and the Securities Exchange Act of 1934, as amended, both as administered by the SEC.
The company’s subsidiary national banks, and their subsidiaries, are subject to regulation and examination primarily by the Office of the Comptroller of the Currency (OCC) and also by the Federal Deposit Insurance Corporation (FDIC), the FRB, the Consumer Financial Protection Bureau (CFPB), the SEC and the Commodities Futures Trading Commission (CFTC).
Many of the company’s nonbank subsidiaries are also subject to regulation by the FRB and other applicable federal and state agencies. The company’s insurance subsidiaries are subject to regulation by applicable state insurance regulatory agencies, as well as the FRB. The company’s brokerage subsidiaries are regulated by the SEC, the Financial Industry Regulatory Authority (FINRA) and, in some cases, the CFTC and the Municipal Securities Rulemaking Board, and state securities regulators.
The company’s subsidiaries include banks in the U.S., such as Wells Fargo Bank, N.A., that are insured by the FDIC. Through the Deposit Insurance Fund (DIF) maintained by the FDIC, the FDIC insures the deposits of the company’s insured banks up to prescribed limits for each depositor and funds the DIF through assessments on member banks.
The company is subject to Sarbanes-Oxley Act of 2002 (Sarbanes-Oxley) because it is required to file periodic reports with the SEC under the Securities Exchange Act of 1934.
History
Wells Fargo & Company was founded in 1852. The company was incorporated in 1929.