Government Relations and Public Policy

The Government Relations and Public Policy (GRPP) team is responsible for managing development and execution of strategies that advance our public policy priorities. The Head of GRPP reports to the Senior Executive Vice President, Head of Public Affairs, who is a direct report to the CEO.

The Governance and Nominating Committee (GNC) (PDF) of the Wells Fargo Board of Directors oversees the Company's significant government relations strategies, policies, and programs. The GNC monitors and receives updates on significant public policy and legislative developments, the Company's political activities and contributions, significant lobbying priorities, and principal trade association memberships and initiatives. 

Lobbying enables Wells Fargo to advocate for a broad range of public policy issues that are important to the Company. GRPP works closely with the lines of business and enterprise functions to determine the company’s public policy positions and then works to communicate those positions with government policymakers, public officials, and regulators at the federal, state, and local levels to promote and advance those public policy positions.

The Company complies with federal, state, and local laws concerning lobbying registration and reporting. Wells Fargo's lobbying disclosure reports provide an overview of the Company's legislative and policy priorities and amounts spent on such efforts at any given time.

Wells Fargo does not engage in grassroots lobbying. If we do engage in grassroots lobbying in the future, we will disclose such activity where and as required by law.

Wells Fargo's political action committees (PACs) are funded by voluntary contributions from eligible employees and directors and support candidates for elected office who understand the important role the financial services industry plays in the economy.

Decisions about which candidates the PACs support are made by the GRPP team prioritizing established criteria to guide decision-making. This criteria includes supporting candidates who:

• Represent the communities where we have a large presence;
• Understand the important role the financial services industry plays in the economy;
• Are in legislative or political leadership roles;
• Serve on important committees that have jurisdiction over issues that impact the financial services sector.

The PACs review candidates based on the totality of their positions on matters important to the Company. A Wells Fargo PAC contribution is not an endorsement of a candidate; Wells Fargo will not always agree with every vote, stance, or action taken by candidates the PAC supports and it is impossible to predict the future actions of a lawmaker. Previous support does not mean the Wells Fargo PAC will support a candidate in the future.

The PACs review the budget, contributions and approach to giving on an ongoing basis.

The Head of GRPP is responsible for the administration and supervision of the PACs. GNC monitors and receives updates on Wells Fargo's PACs.

Wells Fargo does not use company money or resources to directly contribute to candidate campaign committees or caucuses, political parties, or other political committees.

Wells Fargo may contribute to entities organized under Section 527 of the Internal Revenue Code ("527 organizations"). Additionally, Wells Fargo may make contributions for ballot initiatives that could affect its business operations. When Wells Fargo makes these types of ballot initiative contributions, it does so to promote the interests of the company without regard to the private political preferences of Wells Fargo’s executives.

Wells Fargo is active in many financial services industry and general business trade associations. Trade groups often determine industry public policy consensus but our participation in these groups comes with an understanding that we may not always agree with every position taken. In instances where we disagree with trades of which we are members, we are committed to sharing our perspective in a constructive manner, working within the organization’s structure toward greater alignment on policy issues important to Wells Fargo and our stakeholders.

Decisions about our involvement with public policy-oriented trade groups are made by Wells Fargo's GRPP and business and enterprise functions leaders. Wells Fargo’s public policy-oriented trade association memberships are approved initially and annually thereafter by the head of GRPP to determine whether membership is warranted based on the company’s evolving business goals and strategies. The GNC monitors and receives updates on Wells Fargo's principal public policy-oriented trade association memberships.

We prohibit trade associations and groups of which we are a member from using our corporate funds for campaign and election activities. We inform these organizations of our policy prohibiting the use of membership dues and fees for contributions to candidate committees, independent expenditure committees, or other direct or indirect contributions to election campaigns, and expect them to adhere to it.

Wells Fargo’s Code of Conduct outlines employees’ right to engage in political activities on their own time based on their personal political opinions but not representing Wells Fargo. Employees are free to make personal contributions on their own behalf to candidates and related political entities of their choice as long as they comply with the Code of Conduct and any applicable policies; employees may not be reimbursed for any personal political contribution. Personal political contributions made by employees reflect their own beliefs and not those of Wells Fargo.