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Página principalLike many companies, Wells Fargo engages in public policy advocacy on issues that impact our business at the local, state, and federal levels. We believe that participating in the public policy process helps protect our customers, employees, and businesses, and is an important part of responsible corporate citizenship.
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 principal federal public policy priorities on which GRPP lobbies include consumer banking, commercial banking, capital markets, prudential regulation, payments, cybersecurity, small business, and tax issues. The Governance and Nominating Committee (GNC) of the Wells Fargo Board of Directors monitors and receives updates on the principal public policy priorities to the Company and where the Company has chosen to focus its engagement with government officials.
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.
Copies of federal lobbyist disclosure reports are publicly available; to review our quarterly federal lobbying reports, visit the Office of the Clerk of House of Representatives, click the gear icon, and search for "Wells Fargo" in the Registrant Name field. You can also access copies of state and local disclosures on our 2024 State and Local Lobbyist Disclosure Reports (PDF).
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 Government Relations and Public Policy (GRPP) team prioritizing established criteria to guide decision-making. This criteria includes supporting candidates who:
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 PAC reviews its budget, contributions, (and approach to giving) on an ongoing basis. All Wells Fargo PACs report to the Federal Elections Committee and/or to state agencies as required by law. Wells Fargo publishes a summary of our most recent campaign disbursements (PDF) of the Wells Fargo Employee PACs. This report is updated annually.
The Head of GRPP is responsible for the administration and supervision of the PACs. The Governance and Nominating Committee (GNC) of the Wells Fargo Board of Directors monitors and receives updates on Well Fargo's PACs.
Wells Fargo does not use company money or resources to influence any U.S. domestic or foreign candidate elections, including assisting candidate campaign committees or caucuses, political parties, or other political committees. Wells Fargo does not use corporate funds to make independent political expenditures or electioneering communications. If, in the future, we change our policy on independent expenditures we will disclose those expenditures on our website.
Wells Fargo may contribute or belong to 527 and 501(c)(4) organizations, including certain instances in which Wells Fargo may contribute corporate funds to support or oppose state or local ballot initiatives that may impact our business. Wells Fargo restricts such organizations from using our contributions for election related activity (e.g., to support or oppose any candidate for U.S. federal, state, or local office) and only permits our contributions to be used for operational and administrative purposes, except when Wells Fargo contributes funds in connection with supporting or opposing a ballot initiative that may impact our business. Wells Fargo obtains attestation letters from 527 and 501(c)(4) organizations receiving support confirming payments will be used in a manner consistent with those restrictions and not transferred to any other entity for the purpose of election related activity. When Wells Fargo contributes funds in connection with a ballot initiative, we will disclose the amount and recipient of such payment.
Wells Fargo has designed processes for the company to make contributions to 527 and 501(c)(4) organizations as well as ballot initiatives that promote the interests of the company without regard to the private political preferences of members of Wells Fargo's operating committee.
View the list of contributions to 527 organizations (PDF) and the list of contributions for ballot initiatives (PDF). Both are updated annually.
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 Government Relations and Public Policy 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 Governance and Nominating Committee (GNC) of the Wells Fargo Board of Directors monitors and receives updates on the 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. If Wells Fargo participates in a tax-exempt organization that writes and endorses model legislation, we will disclose that information on our website.
Wells Fargo publishes a list of the principal financial services industry trade associations that received membership dues from Wells Fargo and its subsidiaries. Based on information reported to us, the amount of dues designated by the organizations as attributable to Wells Fargo and used for lobbying was approximately $1.6 million during the most recent membership period. Here is a list of our principal financial services industry trade associations (PDF) and the percentage of membership dues spent on lobbying, as reported to Wells Fargo by each organization.
Wells Fargo is committed to complying with all applicable laws regarding political contributions, including MSRB Rule G-37, SEC Rule 15Fh-6, SEC Rule 206(4)-5, CFTC Rule 23.451 and applicable state and local restrictions and limits. We have policies and procedures in place consistent with this commitment. Wells Fargo maintains compliance processes intended to ensure that its activities are conducted in accordance with those policies, our Code of Conduct, and with all relevant laws governing political contributions and lobbying activities.
Wells Fargo’s Code of Conduct encourages employees to engage in civic and political activities on their own time based on their individual desires and political preferences but not representing Wells Fargo. Employees may not engage in any political activity during work time or using Wells Fargo property to conduct such activity, and they cannot be reimbursed for any campaign contributions made from personal funds. 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. Personal political contributions made by employees reflect their own beliefs and not those of Wells Fargo.
QSR-10242026-7899816.1.2
LRC-0224
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