Responsible Lending Principles for Consumer Credit

Wells Fargo's vision is to satisfy all our customers’ financial needs and help them succeed financially. Consistent with this vision, Wells Fargo is firmly committed to being a responsible provider of consumer credit in all of our markets.  As a responsible lender, Wells Fargo strictly prohibits abusive, misleading, or fraudulent lending practices.  Additionally, Wells Fargo business units that extend consumer credit do so according to the following affirmative responsible lending practices:

  • We provide our customers with the information they need to make fully informed decisions about our credit products and services.
  • We price our credit products and services based on appropriate factors, including the risk and cost of extending credit, competition and marketplace strategy and conditions, and safety and soundness considerations.
  • We only approve applications where we believe the borrower has the ability to repay the credit according to its terms, using a method of assessment appropriate to the type of credit transaction.
  • We provide timely responses to customer questions and complaints, and take prompt corrective action if we have made an error.

These fundamental principles apply broadly to all consumer lending products originated by Wells Fargo and/or services provided by Wells Fargo owned companies. Additional responsible lending principles and practices apply to the following specific types of our diverse credit products and lending activities: