Wells Fargo Issues Statement Regarding Federal Reserve, FDIC Revised Submission Determination

Wells Fargo & Company WFC today issued the following statement regarding the Board of Governors of the Federal Reserve System and the Federal Deposit Insurance Corporation's most recent joint response to the company's revised submission to its 2015 resolution plan under the "living will" process of the Dodd-Frank Wall Street Reform and Consumer Protection Act:

"Earlier today, the Federal Reserve and the FDIC announced that Wells Fargo's Revised Submission adequately remedied the remaining deficiencies.

"We are pleased with the agencies' findings and remain committed to sound resolution planning and preparedness as we finalize our July 2017 submission."

About Wells Fargo

Wells Fargo & Company WFC is a diversified, community-based financial services company with $2.0 trillion in assets. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, insurance, investments, mortgage, and consumer and commercial finance through more than 8,500 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 273,000 team members, Wells Fargo serves one in three households in the United States. Wells Fargo & Company was ranked No. 27 on Fortune's 2016 rankings of America's largest corporations. Wells Fargo's vision is to satisfy our customers' financial needs and help them succeed financially.

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