The OCC Finds That Wells Fargo Bank, N.A. and Five Other Banks Have Not Complied With Consent Orders

8/21/2019 The OCC Finds That Wells Fargo Bank, N.A. and Five Other Banks Have Not Complied With Consent Orders

http://slidepdf.com/reader/full/the-occ-finds-that-wells-fargo-bank-na-and-five-other-banks-have-not-complied 1/23

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#7=<1-=89

 Ldaoks #7=<<-=1< lok #7=<6-<67 

QON[AK V[L[AV @H LDAWNFL

KA]LW[DAO[ @H [JA [WALVQW^

F@D][W@BBAW @H [JA FQWWAOF^ 

No tja Dlttar `h5

Yabbs Hlri` Gloc, O.L.

Vn`ux Hlbbs, V`utj Klc`tl

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)

LDAOKV LL-AF-<<-<>lok

#7=<6-<67

F@OVAO[ @WKAW LDAOKNOI [JA

7=<< F@OVAO[ @WKAW lok 7=<6 LDAOKDAO[ [@ [JA 7=<< F@OVAO[ @WKAW

[ja F`dptr`bbar `h tja Furraofy `h tja Qontak Vtltas `h Ldarnfl (‒F`dptr`bbar—) lok

Yabbs Hlri` Gloc, Oltn`olb Lss`fnltn`o, Vn`ux Hlbbs, V`utj Klc`tl (‒Gloc—) jaragy liraa t`

ldaokdaots `h F`osaot @rkar, LL-AF-<<-<>, kltak Lprnb <6, 7=<< (‒7=<< F`osaot @rkar—),

lok tja Ldaokdaot t` tja 7=<< F`osaot @rkar, kltak Hagrulry 7:, 7=<6 (‒7=<6 LF@—),

(f`bbaftnvaby, tja ‒F`osaot @rkar—).<  [ja Gloc, gy lok tjr`uij nts kuby abaftak lok lftnoi

G`lrk `h Knraft`rs (‒G`lrk—), jls axafutak l Vtnpubltn`o lok F`osaot t` tja Nssulofa `h lo

Ldaokdaot t` tja F`osaot @rkar (‒Ldaokdaot—), kltak Euoa <8, 7=<1 (‒Vtnpubltn`o—), wjnfj

ns lffaptak gy tja F`dptr`bbar lok nof`rp`rltak gy raharaofa jarano.

YJAWALV, tja Gloc jls hlnbak t` f`dpby wntj Lrtnfbas NN, NNN, NX, XNNN lok NZ `h tja

F`osaot @rkar. [ja hnhtaao (<1) radlnonoi lftn`olgba ntads `h tja onoaty-anijt (>:) lftn`olgba

ntads no tja F`osaot @rkar lra nofbukak no tjns Ldaokdaot3

YJAWALV, tja Gloc ns no f`otnounoi o`of`dpbnlofa wntj lok no vn`bltn`o `h tja

F`osaot @rkar, lok f`otnouas t` aoilia no uoslha lok uos`uok prlftnfas3

< [ja 7=<< F`osaot @rkar radlnos no hubb h`rfa lok ahhaft, ls ldaokak jarano.

8/21/2019 The OCC Finds That Wells Fargo Bank, N.A. and Five Other Banks Have Not Complied With Consent Orders

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YJAWALV, up`o axafutn`o `h tjns Ldaokdaot, tja @FF ns pblfnoi tja Gloc uokar tja

h`bb`wnoi suparvns`ry rastrnftn`os5 (<) o` axafutn`o `h oaw f`otrlfts `r tja ldaokdaot `r

raoawlb `h axnstnoi f`otrlfts gay`ok furraot b`lo v`buda spafnhnak no axnstnoi f`otrlfts h`r tja

lfqunsntn`o, gy tja Gloc, `h rasnkaotnlb d`rtilia sarvnfnoi, rasnkaotnlb d`rtilia sarvnfnoi rnijts,

rasnkaotnlb d`rtilia b`los wntj sarvnfnoi, `r rasnkaotnlb d`rtilia `rninoltn`o gusnoass aotntnas

uotnb tardnoltn`o `h tja F`osaot @rkar (tjns k`as o`t lppby t` `rninoltn`os `r rahnolofnois gy tja

Gloc, f`otrlfts h`r oaw rasnkaotnlb d`rtilia b`los tjr`uij tja Gloc„s gr`car `r f`rrasp`okaot

fjlooabs, `r `tjar f`otrlftulb rabltn`osjnps wjara tja Gloc k`as o`t ubtndltaby sarvnfa tja b`los,

lok tjns ns o`t notaokak t` knsrupt loy `h tja Gloc„s axnstnoi rasnkaotnlb d`rtilia sarvnfnoi

rabltak f`otrlfts)3 (7) o` axafutn`o `h oaw f`otrlfts h`r tja Gloc t` parh`rd rasnkaotnlb

d`rtilia sarvnfnoi h`r `tjar plrtnas uotnb tardnoltn`o `h tja F`osaot @rkar3 (6) o` oaw

rasnkaotnlb d`rtilia sarvnfnoi rabltak lftnvntnas dly ga `uts`urfak `r sug-sarvnfak t` `tjar

 plrtnas wntj`ut prn`r @FF suparvns`ry o`o-`geaftn`o uotnb tardnoltn`o `h tja F`osaot @rkar (tjns

ns o`t notaokak t` knsrupt loy `h tja Gloc„s axnstnoi rasnkaotnlb d`rtilia sarvnfnoi rabltak

f`otrlfts, `uts`urfak lftnvntnas, `r `gbniltn`os pursulot t` bailb sattbadaot, o`r pr`jngnt oaw

f`otrlfts t` `uts`urfa lftnvntnas tjlt lra furraotby `uts`urfak)3 (;) o` oaw `hh-sj`rnoi `h

rasnkaotnlb d`rtilia sarvnfnoi rabltak lftnvntnas uotnb tardnoltn`o `h tja F`osaot @rkar3 lok (1)

o` oaw lpp`notdaots `h saon`r `hhnfars wj` jlva rasp`osngnbnty h`r rasnkaotnlb d`rtilia

sarvnfnoi, rasnkaotnlb d`rtilia sarvnfnoi `parltn`os, rasnkaotnlb d`rtilia sarvnfnoi rnsc

dloliadaot, lok rasnkaotnlb d`rtilia sarvnfnoi f`dpbnlofa wntj`ut prn`r @FF suparvns`ry

o`o-`geaftn`o uotnb tardnoltn`o `h tja F`osaot @rkar3

YJAWALV, tja @FF wnbb lbs` tlca lkkntn`olb suparvns`ry lok/`r aoh`rfadaot lftn`o,

nofbuknoi p`ssngba fnvnb d`oay paolbtnas, sugeaft t` lbb lppr`prnlta pr`fakurlb pr`fassas, no

8/21/2019 The OCC Finds That Wells Fargo Bank, N.A. and Five Other Banks Have Not Complied With Consent Orders

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`rkar t` lkkrass tja Gloc„s `varlbb o`of`dpbnlofa wntj tja F`osaot @rkar, tja oltura lok

savarnty `h wjnfj wnbb rahbaft tja oltura, baoitj lok savarnty `h tja Gloc„s f`otnouak

o`of`dpbnlofa tjr`uij hnolb tardnoltn`o `h tja F`osaot @rkar3 

YJAWALV, o`twntjstloknoi tjns Ldaokdaot, tja @FF f`otnouas t` ratlno `varsnijt lok

 eurnsknftn`o `h tja Nokapaokaot H`rafb`sura Wavnaw \ulbnhnak Vattbadaot Huok < (‒NHW \VH<—)

astlgbnsjak gy tja 7=<6 LF@ h`r tja lkdnonstrltn`o `h plydaots t` g`rr`wars `h @FF raiubltak

nostntutn`os uotnb sufj tnda ls tja plynoi liaot ns knraftak t` hnba l hnolb raturo wntj tja Notarolb

Wavaoua Varvnfa (‒NWV—) h`r NHW \VH< lok NHW \VH< ns tjaralhtar tardnoltak3 lok

YJAWALV, tja @FF jls katardnoak tjlt uoflsjak plydaots t` g`rr`wars `h @FF

raiubltak nostntutn`os sj`ubk radlno lvlnblgba t` sufj g`rr`wars, `r sufj g`rr`wars„ rnijthub

janrs, tjr`uij tja stltas„ asfjaltdaot pr`fassas, lhtar NHW \VH< ns tardnoltak.

LW[NFBA N

F@D][W@BBAW„V HNOKNOIV

(<) [ja F`dptr`bbar„s Hnoknois uokar Lrtnfba N `h tja F`osaot @rkar lra jaragy

nof`rp`rltak no hubb.

(7) [ja @FF jls katardnoak tja Gloc jls hlnbak t` f`dpby wntj Lrtnfbas NN, NNN, NX,

XNNN, lok NZ `h tja F`osaot @rkar.

(6) [ja @FF jls katardnoak tja Gloc ns no f`otnounoi o`of`dpbnlofa wntj lok no

vn`bltn`o `h tja F`osaot @rkar, lok f`otnouas t` aoilia no uoslha lok uos`uok prlftnfas.

(;) [jns Ldaokdaot nofbukas tja hnhtaao (<1) radlnonoi lftn`olgba ntads uokar tja

F`osaot @rkar lok ndp`sas gusnoass rastrnftn`os up`o tja Gloc tjr`uij tardnoltn`o `h tja

F`osaot @rkar.

]ursulot t` tja lutj`rnty vastak no jnd gy tja Hakarlb Kap`snt Nosurlofa Lft, ls

ldaokak, <7 Q.V.F. §<:<:(g), tja F`dptr`bbar jaragy @WKAWV tjlt5

8/21/2019 The OCC Finds That Wells Fargo Bank, N.A. and Five Other Banks Have Not Complied With Consent Orders

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LW[NFBA NN

F@D]BNLOFA F@DDN[[AA

[ja pr`vnsn`os `h Lrtnfba NN `h tja F`osaot @rkar lra jaragy ravnsak ls h`bb`ws5

(<) [ja G`lrk sjlbb f`otnoua t` dlnotlno l F`dpbnlofa F`ddnttaa `h lt balst tjraa

(6) knraft`rs, `h wjnfj lt balst tw` (7) lra `utsnka knraft`rs wj` lra o`t axafutnva `hhnfars `h

tja Gloc r nts j`bknoi f`dploy ls kahnoak no <7 F.H.W. § 7<1.7(a)(<) `h Waiubltn`o @. No

tja avaot `h l fjloia `h tja dadgarsjnp, tja olda `h loy oaw dadgar sjlbb ga sugdnttak t`

tja Axldnoar-no-Fjlria h`r Blria Gloc Vuparvnsn`o lt tja Gloc (‒Axldnoar-no-Fjlria—).

[ja F`dpbnlofa F`ddnttaa sjlbb ga rasp`osngba h`r d`ont`rnoi lok f``rknoltnoi tja Gloc„s

f`dpbnlofa wntj tja pr`vnsn`os h tjns Ldaokdaot. [ja F`dpbnlofa F`ddnttaa sjlbb daat lt

balst d`otjby lok dlnotlno dnoutas `h nts daatnois.

(7) Yntjno tjnrty (6=) klys lhtar tja aok `h alfj qulrtar, tja F`dpbnlofa F`ddnttaa

sjlbb sugdnt l wrnttao pr`irass rap`rt t` tja G`lrk sattnoi h`rtj no katlnb lftn`os tlcao t`

f`dpby wntj alfj radlnonoi lrtnfba `h tja F`osaot @rkar, lok tja rasubts lok stltus `h tj`sa

lftn`os.

(6) [ja G`lrk sjlbb h`rwlrk l f`py `h tja F`dpbnlofa F`ddnttaa„s rap`rt, wntj

loy lkkntn`olb f`ddaots gy tja G`lrk, t` tja Axldnoar-no-Fjlria wntjno tao (<=) klys `h

rafanvnoi sufj rap`rt.

LW[NFBA NNN

F@D]WAJAOVNXA LF[N@O ]BLO

[ja pr`vnsn`os `h Lrtnfba NNN `h tja F`osaot @rkar lra jaragy ravnsak ls h`bb`ws5

(<) [ja Gloc jls sugdnttak t` tja Axldnoar-no-Fjlria lo upklta t` nts lftn`o pblo

f`otlnonoi l f`dpbata kasfrnptn`o `h tja lftn`os tjlt lra oafasslry lok lppr`prnlta t` lfjnava

8/21/2019 The OCC Finds That Wells Fargo Bank, N.A. and Five Other Banks Have Not Complied With Consent Orders

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f`dpbnlofa wntj Lrtnfbas NN, NNN, NX, XNNN lok NZ `h tja F`osaot @rkar (tja upkltak lftn`o pblo

lok lbb pravn`usby lffaptak lftn`o pblos lok upkltas lra f`bbaftnvaby raharrak t` ls tja

‒Wavnsak Lftn`o ]blo—). [ja Gloc ns raqunrak t` axafuta lbb ntads f`otlnoak wntjno tja

Wavnsak Lftn`o ]blo. No tja avaot tja Kaputy F`dptr`bbar `h Blria Gloc Vuparvnsn`o

(‒Kaputy F`dptr`bbar—) `r tja Axldnoar-no-Fjlria lscs tja Gloc t` hurtjar ldaok tja

Wavnsak Lftn`o ]blo, tja Gloc sjlbb pr`dptby dlca tja raquastak ravnsn`os lok rasugdnt tja

Wavnsak Lftn`o ]blo t` tja Axldnoar-no-Fjlria lok tja Gloc sjlbb o`t tlca loy lftn`o tjlt

w`ubk f`ostntuta l snionhnflot kavnltn`o hr`d, `r dltarnlb fjloia t`, tja raqunradaots `h tja

Wavnsak Lftn`o ]blo, uobass lok uotnb tja Gloc jls rafanvak l prn`r wrnttao katardnoltn`o `h o`

suparvns`ry `geaftn`o hr`d tja Kaputy F`dptr`bbar `r tja Axldnoar-no-Fjlria.

(7) [ja G`lrk sjlbb aosura tjlt tja Gloc lfjnavas lok tjaralhtar dlnotlnos

f`dpbnlofa wntj tja F`osaot @rkar, nofbuknoi, wntj`ut bndntltn`o, suffasshub ndpbadaotltn o

`h tja Wavnsak Lftn`o ]blo. [ja G`lrk sjlbb hurtjar aosura tjlt, up`o ndpbadaotltn`o h tja

Wavnsak Lftn`o ]blo, tja Gloc lfjnavas lok dlnotlnos ahhaftnva d`rtilia sarvnfnoi,

h`rafb`sura, lok B`ss Dntniltn`o lftnvntnas (ls kahnoak no tja 7=<< F`osaot @rkar), ls wabb ls

lss`fnltak rnsc dloliadaot, f`dpbnlofa, qulbnty f`otr`b, luknt, trlnonoi, stlhhnoi, lok rabltak

huoftn`os. No `rkar t` f`dpby wntj tjasa raqunradaots, tja G`lrk sjlbb5

(l) raqunra tja tndaby rap`rtnoi gy Gloc dloliadaot `h sufj lftn`os knraftak

 gy tja G`lrk t` ga tlcao uokar tjns Ldaokdaot3

(g) h`bb`w-up `o loy o`of`dpbnlofa wntj sufj lftn`os no l tndaby lok

lppr`prnlta dlooar3 lok

(f) raqunra f`rraftnva lftn`o ga tlcao no l tndaby dlooar h`r loy o`of`dpbnlofa

wntj sufj lftn`os.

8/21/2019 The OCC Finds That Wells Fargo Bank, N.A. and Five Other Banks Have Not Complied With Consent Orders

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(6) [ja Wavnsak Lftn`o ]blo nofbukas5

(l) lbb lftn`os raqunrak t` f`dpbata tja radaknlb lftnvntnas lok vlbnkltn`o `h

sufj lftn`os t` aosura f`dpbnlofa wntj tja raqunradaots `h tjns Ldaokdaot3

(g) hnolofnlb ras`urfas t` kavab`p lok ndpbadaot lo lkaqulta nohrlstruftura t`

supp`rt lok axafuta tja Wavnsak Lftn`o ]blo3

(f) `rilonzltn`olb struftura, dloliarnlb ras`urfas, lok stlhhnoi t` supp`rt tja

radaknlb lftnvntnas raqunrak gy tja Wavnsak Lftn`o ]blo3

(k) datrnfs t` dalsura lok lssass ahhaftnvaoass `h radaknlb lftn`o raqunrak gy

tja Wavnsak Lftn`o ]blo3 lok

(a) i`varolofa lok f`otr`bs kasnioak t` f`dpby wntj lbb Bailb Waqunradaots

(ls kahnoak no tja 7=<< F`osaot @rkar), suparvns`ry iunklofa, lok tja

raqunradaots `h tjns Ldaokdaot.

(;) [ja Wavnsak Lftn`o ]blo spafnhnas tndabnoas h`r f`dpbatn`o `h alfj `h tja

raqunradaots `h Lrtnfbas NN, NNN, NX, XNNN, lok NZ `h tja F`osaot @rkar. [ja tndabnoas no tja

Wavnsak Lftn`o ]blo sjlbb ga f`osnstaot wntj loy kalkbnoas sat h`rtj no tjns Ldaokdaot.

LW[NFBA NX

F@D]BNLOFA ]W@IWLD

(<) [ja Gloc jls kad`ostrltak f`dpbnlofa wntj lbb `h tja raqunradaots `h Lrtnfba

NX `h tja F`osaot @rkar axfapt h`r tja h`bb`wnoi pr`vnsn`os, wjnfj radlno no o`of`dpbnlofa5 

(l) tja Gloc sjlbb ndpbadaot nts Wavnsak Lftn`o ]blo lok aosura nts

f`dpbnlofa pr`irld, lt l dnondud, nofbukas5

(n) pr`fassas t` aosura tjlt lbb hlftulb lssartn`os dlka no pbalknois,

kafblrltn`os, lhhnklvnts, `r `tjar sw`ro stltadaots hnbak gy `r `o gajlbh

8/21/2019 The OCC Finds That Wells Fargo Bank, N.A. and Five Other Banks Have Not Complied With Consent Orders

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`h tja Gloc lra lffurlta, f`dpbata, tndaby, lok rabnlgba3 lok tjlt

lhhnklvnts lok kafblrltn`os lra glsak `o pars`olb co`wbakia `r l ravnaw

`h tja Gloc's g``cs lok raf`rks wjao tja lhhnklvnt `r kafblrltn`o s`

stltas3

(nn) pr`fassas t` aosura tjlt l fbalr lok lukntlgba trlnb axnsts h`r lbb

hlftulb noh`rdltn`o f`otlnoak no alfj lhhnklvnt `r kafblrltn`o, no supp`rt

`h alfj `h tja fjlrias tjlt lra bnstak, nofbuknoi wjatjar tja ld`uot ns

fjlrialgba t` tja g`rr`war lok/`r fblndlgba gy tja novast`r3

(nnn) pr`fassas t` aosura tjlt lbb haas, axpaosas, lok `tjar fjlrias

ndp`sak `o tja g`rr`war lra lssassak no lff`rklofa wntj tja tards `h

tja uokarbynoi d`rtilia o`ta, d`rtilia, `r `tjar fust`dar lutj`rnzltn`o

wntj raspaft t` tja ndp`sntn`o `h haas, fjlrias, lok axpaosas, lok

kasnioak t` f`dpby wntj lbb lppbnflgba Bailb Waqunradaots lok @FF

suparvns`ry iunklofa3

(nv) `oi`noi tastnoi h r f`dpbnlofa wntj lppbnflgba Bailb Waqunradaots

lok @FF suparvns`ry iunklofa tjlt ns f`dpbatak gy qulbnhnak pars`os

wntj raqunsnta co`wbakia lok lgnbnty (wjnfj dly nofbuka notarolb luknt)

wj` lra nokapaokaot `h tja Gloc„s gusnoass bnoas3

(v) dalsuras t` aosura tjlt p`bnfnas, pr fakuras, lok pr`fassas lra

upkltak `o lo `oi`noi glsns ls oafasslry t` nof`rp`rlta loy fjloias no

lppbnflgba Bailb Waqunradaots lok @FF suparvns`ry iunklofa3

(vn) pr`fassas t` aosura tjlt tja rnsc dloliadaot, qulbnty f`otr b, luknt,

lok f`dpbnlofa pr`irlds jlva tja raqunsnta lutj`rnty lok stltus wntjno

8/21/2019 The OCC Finds That Wells Fargo Bank, N.A. and Five Other Banks Have Not Complied With Consent Orders

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tja `rilonzltn`o s` tjlt lppr`prnlta ravnaws `h tja Gloc„s d`rtilia

sarvnfnoi, B`ss Dntniltn`o, lok h`rafb`sura lftnvntnas lok `parltn`os dly

`ffur lok kahnfnaofnas lra nkaotnhnak lok pr`dptby radaknak3

lok

(vnn) lppr`prnlta pr`fakuras h`r fust`dars no glocruptfy, nofbuknoi l

 pr`jngntn`o `o f`bbaftn`o `h haas no vn`bltn`o `h glocruptfy„s lut`dltnf

stly (<< Q.V.F. § 687), tja knsfjlria noeuoftn`o (<< Q.V.F. § 17;), `r

loy lppbnflgba f`urt `rkar.

LW[NFBA X

[JNWK ]LW[^ DLOLIADAO[

(<) [ja @FF jls katardnoak tja Gloc jls kad`ostrltak f`dpbnlofa wntj Lrtnfba X

`h tja F`osaot @rkar.

LW[NFBA XN

D@W[ILIA ABAF[W@ONF WAINV[WL[N@O V^V[AD

(<) [ja @FF jls katardnoak tja Gloc jls kad`ostrltak f`dpbnlofa wntj Lrtnfba

XN `h tja F`osaot @rkar.

LW[NFBA XNN

H@WAFB@VQWA WAXNAY

(<) Lrtnfba XNN `h tja 7=<< F`osaot @rkar wls suparsakak gy tja 7=<6 LF@.

(7) [ja @FF jls katardnoak tja Gloc jls kad`ostrltak f`dpbnlofa wntj tja

raqunradaots `h tja 7=<6 LF@.

LW[NFBA XNNN

DLOLIADAO[ NOH@WDL[N@O V^V[ADV

(<) [ja Gloc jls kad`ostrltak f`dpbnlofa wntj lbb `h tja raqunradaots `h Lrtnfba

8/21/2019 The OCC Finds That Wells Fargo Bank, N.A. and Five Other Banks Have Not Complied With Consent Orders

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>

XNNN `h tja F`osaot @rkar axfapt h`r tja h`bb`wnoi pr`vnsn`os, wjnfj radlno no

o`of`dpbnlofa5 

(l) tja Gloc sjlbb ndpbadaot nts Wavnsak Lftn`o ]blo lok aosura nts

dloliadaot noh`rdltn`o systads (‒DNV—) h`r h`rafb`sura lok B`ss Dntniltn`o

(ls kahnoak no tja 7=<< F`osaot @rkar) `r b`lo d`knhnfltn`o lftnvntnas pr`vnka

tndaby kabnvary `h f`dpbata lok lffurlta noh`rdltn`o t` pardnt ahhaftnva

kafnsn`o-dlcnoi, lok nofbuka, lt l dnondud5 tastnoi tja notairnty lok lffurlfy

`h tja oaw `r aojlofak DNV t` aosura tjlt rap`rts iaoarltak gy tja systad

 pr`vnka oafasslry noh`rdltn`o h`r lkaqulta d`ont`rnoi lok qulbnty f`otr`bs.

LW[NFBA NZ

D@W[ILIA VAWXNFNOI

(<) [ja Gloc jls kad`ostrltak f`dpbnlofa wntj lbb `h tja raqunradaots `h Lrtnfba

NZ `h tja F`osaot @rkar axfapt h`r tja h`bb`wnoi pr`vnsn`os, wjnfj radlno no o`of`dpbnlofa5 

(l) tja Gloc sjlbb ndpbadaot nts Wavnsak Lftn`o ]blo lok aosura ahhaftnva

f``rknoltn`o `h f`dduonfltn`os wntj g`rr`wars, g`tj `rlb lok wrnttao, rabltak

t` B`ss Dntniltn`o `r b`lo d`knhnfltn`o lok h`rafb`sura lftnvntnas, nofbuknoi, lt

l dnondud5

(n) rals`olgba lok i``k hlntj ahh`rts, f`osnstaot wntj lppbnflgba Bailb

Waqunradaots, lra aoiliak no B`ss Dntniltn`o lok h`rafb`sura

 pravaotn`o h`r kabnoquaot b`los, wjara lppr`prnlta3

(nn) axplosn`o `h tja snoiba p`not `h f`otlft pr`irld s` tjlt alfj

 g`rr`war jls lffass t` lo adpb`yaa `h tja Gloc t` `gtlno noh`rdltn`o

tjr`uij`ut tja B`ss Dntniltn`o, b`lo d`knhnfltn`o, lok h`rafb`sura

 pr`fassas3 lok

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<=

(nnn) l raqunradaot tjlt wrnttao f`dduonfltn`os wntj tja g`rr`war

nkaotnhy sufj snoiba p`not `h f`otlft lb`oi wntj `oa `r d`ra knraft

dalos `h f`dduonfltn`o wntj tja f`otlft.

LW[NFBA Z

WNVC LVVAVVDAO[ LOK WNVC DLOLIADAO[ ]BLO

(<) [ja @FF jls katardnoak tja Gloc jls kad`ostrltak f`dpbnlofa wntj Lrtnfba Z

`h tja F`osaot @rkar.

LW[NFBA ZN

L]]W@XLB, ND]BADAO[L[N@O LOK WA]@W[V

[ja pr`vnsn`os `h Lrtnfba ZN `h tja F`osaot @rkar lra jaragy ravnsak ls h`bb`ws5

(<) [ja Gloc sjlbb sugdnt loy ravnsak pblos raqunrak gy tjns Ldaokdaot h`r

ravnaw t` tja Axldnoar-no-Fjlria katardnoltn`o `h o` suparvns`ry `geaftn`o gy tja Kaputy

F`dptr`bbar `r tja Axldnoar-no-Fjlria. [ja Gloc sjlbb lk`pt lok ndpbadaot tja ravnsak

 pblos up`o sugdnssn`o t` tja @FF, lok sjlbb nddaknltaby d`knhy nts pblos no lff`rklofa wntj

loy ravnsn`os knraftak gy tja Kaputy F`dptr`bbar `r tja Axldnoar-no-Fjlria.

(7) Loy katardnoltn`o `h o` suparvns`ry `geaftn`o t` tja Wavnsak Lftn`o ]blo k`as

o`t f`ostntuta lo axtaosn`o `h tja f`dpbnlofa kalkbnoas h`r pravn`usby lppr`vak pblos

sugdnttak pursulot t` tja F`osaot @rkar.

(6) H`bb`wnoi tja nssulofa `h tjns Ldaokdaot, tja Gloc sjlbb o`t ldaok `r kavnlta

hr`d tja ravnsak pblos no loy dltarnlb raspaft wntj`ut tja prn`r wrnttao lppr`vlb `h tja Kaputy

F`dptr`bbar `r tja Axldnoar-no-Fjlria (axfapt ls `tjarwnsa pr`vnkak no tjns Ldaokdaot).

(;) H`bb`wnoi tja nssulofa `h tjns Ldaokdaot, tja Gloc sjlbb hurtjar ravnsa tja

 pblos ls oafasslry t` nof`rp`rlta oaw `r fjloias t` lppbnflgba Bailb Waqunradaots lok

suparvns`ry iunkabnoas.

8/21/2019 The OCC Finds That Wells Fargo Bank, N.A. and Five Other Banks Have Not Complied With Consent Orders

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<<

(1) [ja G`lrk sjlbb aosura tjlt tja Gloc jls pr`fassas, pars`ooab, lok f`otr`b

systads t` aosura ndpbadaotltn`o `h lok lkjaraofa t` tja ravnsak pblos raqunrak gy tjns

Ldaokdaot.

(8) Yntjno h`rty (;=) klys lhtar tja aok `h alfj flbaoklr qulrtar h`bb`wnoi tja

nssulofa `h tjns Ldaokdaot, tja Gloc sjlbb sugdnt t` tja @FF l wrnttao pr`irass rap`rt

katlnbnoi tja h`rd lok dlooar `h lbb lftn`os tlcao t` safura f`dpbnlofa wntj tja pr`vnsn`os `h

tjns Ldaokdaot lok tja rasubts tjara`h. [ja pr`irass rap`rt sjlbb nofbuka noh`rdltn`o

suhhnfnaot t` vlbnklta f`dpbnlofa wntj tja F`osaot @rkar, glsak `o l tastnoi pr`irld

lffaptlgba t` tja @FF tjlt nofbukas, nh raqunrak gy tja @FF, vlbnkltn`o gy tjnrk-plrty

nokapaokaot f`osubtlots lffaptlgba t` tja @FF. [ja @FF dly, no wrntnoi, knsf`otnoua tja

raqunradaot h`r pr`irass rap`rts `r d`knhy tja rap`rtnoi sfjakuba.

(9) Lbb f`dduonfltn`o railrknoi tja F`osaot @rkar sjlbb ga saot t`5

Grlkbay Bnoscaos

Axldnoar-no-Fjlria Oltn`olb Gloc Axldnoars

6;6 Vlos`da Vtraat, Vunta <<1=

DLF L=<86-<<=Vlo Hrlofnsf`, FL, >;<86-=<=<

LW[NFBA ZNN

F@D]BNLOFA LOK AZ[AOVN@OV @H [NDA

[ja pr`vnsn`os `h Lrtnfba ZNN `h tja F`osaot @rkar lra jaragy ravnsak ls h`bb`ws5

(<) Nh tja Gloc f`otaoks tjlt f`dpbnlofa wntj loy pr`vnsn`o `h tja F`osaot @rkar

w`ubk o`t ga halsngba `r bailbby pardnssngba h`r tja Gloc, `r raqunras lo axtaosn`o `h loy

tndahrlda wntjno tjns Ldaokdaot, tja G`lrk sjlbb sugdnt l wrnttao raquast t` tja Kaputy

F`dptr`bbar lscnoi h`r rabnah. Loy wrnttao raquasts sugdnttak pursulot t` tjns Lrtnfba sjlbb

nofbuka l stltadaot sattnoi h`rtj no katlnb tja spafnlb fnrfudstlofas tjlt pravaot tja Gloc hr`d

8/21/2019 The OCC Finds That Wells Fargo Bank, N.A. and Five Other Banks Have Not Complied With Consent Orders

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<7

f`dpbynoi wntj l pr`vnsn`o, tjlt raqunra tja Kaputy F`dptr`bbar t` axadpt tja Gloc hr`d l

 pr`vnsn`o, `r tjlt raqunra lo axtaosn`o `h l tndahrlda wntjno tjns Ldaokdaot.

(7) Lbb sufj raquasts sjlbb ga lff`dplonak gy rabavlot supp`rtnoi k`fudaotltn`o,

lok t` tja axtaot raquastak gy tja Kaputy F`dptr`bbar, l sw`ro lhhnklvnt `r lhhnklvnts sattnoi

h`rtj loy `tjar hlfts up`o wjnfj tja Gloc rabnas. [ja Kaputy F`dptr`bbar's kafnsn`o

f`ofaronoi l raquast ns hnolb lok o`t sugeaft t` hurtjar ravnaw.

LW[NFBA ZNNN

@[JAW ]W@XNVN@OV

[ja pr`vnsn`os `h Lrtnfba ZNNN `h tja F`osaot @rkar lra jaragy ravnsak ls h`bb`ws5

(<) [ja Gloc ns no f`otnounoi o`of`dpbnlofa wntj lok no vn`bltn`o `h tja F`osaot

@rkar, lok f`otnouas t` aoilia no uoslha lok uos`uok prlftnfas.

(7) [ja @FF wnbb tlca lkkntn`olb suparvns`ry lok/`r aoh`rfadaot lftn`o, nofbuknoi

 p`ssngba fnvnb d`oay paolbtnas, sugeaft t` lbb lppr`prnlta pr`fakurlb pr`fassas, no `rkar t`

lkkrass tja Gloc„s `varlbb o`of`dpbnlofa wntj tja F`osaot @rkar, tja oltura lok savarnty `h

wjnfj wnbb rahbaft tja oltura, baoitj lok savarnty `h tja Gloc„s f`otnouak o`of`dpbnlofa

tjr`uij hnolb tardnoltn`o `h tja F`osaot @rkar.

(6) Gy stnpubltnoi t` tja nssulofa `h tjns Ldaokdaot, tja Gloc jls o`t f`osaotak t`

loy aoh`rfadaot lftn`os gay`ok tj`sa aoudarltak no tjns Ldaokdaot, lok hubby ratlnos nts

rnijt t` f`otast hutura lftn`o.

(;) O`twntjstloknoi loy `tjar tards `h tjns Ldaokdaot, tja F`dptr`bbar

spafnhnflbby rasarvas lok k`as o`t rabalsa tja h`bb`wnoi5

(l) loy rnijt t` nostntuta lo aoh`rfadaot lftn`o h`r vn`bltn`os `h tja Lrtnfbas

f`otlnoak no tja F`osaot @rkar, `utsnka `h Lrtnfba XNN `h tja 7=<< F`osaot

8/21/2019 The OCC Finds That Wells Fargo Bank, N.A. and Five Other Banks Have Not Complied With Consent Orders

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<6

@rkar, nofbuknoi tja lssassdaot `h fnvnb d`oay paolbtnas3

(g) loy lok lbb fblnds glsak up`o lfts `r dnssn`os sugsaquaot t` tja ahhaftnva

klta `h tja 7=<6 LF@3

(f) loy lok lbb fblnds glsak up`o tja `rninoltn`o `h l rasnkaotnlb d`rtilia b`lo,

`r tja slba `r trloshar `h l d`rtilia, safurnty, `r wj`ba b`lo, wjatjar bailb `r

aquntlgba, t`, not`, `r h`r tja gaoahnt `h l d`rtilia-glfcak safurnty, trust, `r

spafnlb notarast aotnty, nofbuknoi gut o`t bndntak t` d`rtilia b`lo safurntnzltn`os

lok wj`ba b`lo slbas t` sufj aotntnas, axfapt h`r loy lok lbb fblnds lkkrassak no

sugplrlirlpj (g) lg`va3

(k) loy bnlgnbnty lrnsnoi uokar tja Hlnr J`usnoi Lft, ;7 Q.V.F. §§ 68=<, at saq.,

`r loy `tjar stltuta `r blw tjlt pr`jngnts knsfrndnoltn`o `h pars`os glsak `o

rlfa, f`b`r, oltn`olb `rnino, iaokar, knslgnbnty, `r loy `tjar pr`taftak stltus,

nofbuknoi tja o`o-knsfrndnoltn`o pr`vnsn`os `h tja Aqulb Fraknt @pp`rtuonty

Lft, <1 Q.V.F. §§ <8><, at saq., `r uokar tja Hakarlb [rlka F`ddnssn`o Lft,

<1 Q.V.F. §§ ;<, at saq., `r loy `tjar stltuta `r blw tjlt pr`jngnts uohlnr `r

kafaptnva prlftnfas3

(a) loy lok lbb fblnds lilnost noknvnkulbs, nofbuknoi furraot lok h`rdar

adpb`yaas, liaots, `hhnfars, knraft`rs, `r f`otrlft`rs `h tja Gloc3 lok

(h) loy lok lbb lftn`os t` aoh`rfa tja tards lok f`okntn`os `h tjns Ldaokdaot.

(1) Lbtj`uij tjns Ldaokdaot raqunras tja Gloc t` sugdnt fartlno lftn`o pblos,

 pr`irlds, p`bnfnas, lok pr`fakuras h`r tja ravnaw `r prn`r wrnttao katardnoltn`o `h o`

suparvns`ry `geaftn`o gy tja Kaputy F`dptr`bbar `r tja Axldnoar-no-Fjlria, tja G`lrk jls tja

ubtndlta rasp`osngnbnty h`r pr`par lok s`uok dloliadaot `h tja Gloc.

8/21/2019 The OCC Finds That Wells Fargo Bank, N.A. and Five Other Banks Have Not Complied With Consent Orders

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<;

(8) No alfj nostlofa no tja F`osaot @rkar no wjnfj tja G`lrk ns raqunrak t` aosura

lkjaraofa t`, lok uokartlca t` parh`rd fartlno `gbniltn`os `h tja Gloc, nt ns notaokak t` dalo

tjlt tja G`lrk sjlbb5

(l) lutj`rnza lok lk`pt sufj lftn`os `o gajlbh `h tja Gloc ls dly ga oafasslry

h`r tja Gloc t` parh`rd nts `gbniltn`os lok uokartlcnois uokar tja tards `h tja

F`osaot @rkar3

(g) raqunra tja tndaby rap`rtnoi gy Gloc dloliadaot `h sufj lftn`os knraftak

 gy tja G`lrk t` ga tlcao uokar tja tards `h tja F`osaot @rkar3

(f) h`bb`w-up `o loy dltarnlb o`o-f`dpbnlofa wntj sufj lftn`os no l tndaby lok

lppr`prnlta dlooar3 lok

(k) raqunra f`rraftnva lftn`o ga tlcao no l tndaby dlooar `h loy dltarnlb o`o

f`dpbnlofa wntj sufj lftn`os.

(9) Nh, lt loy tnda, tja F`dptr`bbar kaads nt lppr`prnlta no hubhnbbnoi tja

rasp`osngnbntnas pblfak up`o jnd gy tja savarlb blws `h tja Qontak Vtltas t` uokartlca loy

lftn`o lhhaftnoi tja Gloc, o`tjnoi no tja F`osaot @rkar `r Ldaokdaot sjlbb no loy wly

nojngnt, ast`p, glr, `r `tjarwnsa pravaot tja F`dptr`bbar hr`d s` k`noi.

(:) [jns Ldaokdaot ns lok sjlbb gaf`da ahhaftnva up`o nts axafutn`o gy tja

F`dptr`bbar, tjr`uij jns lutj`rnzak raprasaotltnva wj`sa jlok lppalrs gab`w. [ja F`osaot

@rkar sjlbb radlno ahhaftnva lok aoh`rfalgba, axfapt t` tja axtaot tjlt, lok uotnb sufj tnda ls,

loy pr`vnsn`o `h tja F`osaot @rkar sjlbb ga ldaokak, suspaokak, wlnvak, `r tardnoltak no

wrntnoi gy tja F`dptr`bbar.

(>) Loy tnda bndntltn`os ndp`sak gy tjns Ldaokdaot sjlbb gaino t` ruo hr`d tja

8/21/2019 The OCC Finds That Wells Fargo Bank, N.A. and Five Other Banks Have Not Complied With Consent Orders

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<1

ahhaftnva klta `h tjns Ldaokdaot, ls sj`wo gab`w, uobass tja Ldaokdaot spafnhnas `tjarwnsa.

(<=) [ja tards lok pr`vnsn`os `h tja F`osaot @rkar lok Ldaokdaot lppby t` tja

Gloc lok nts sugsnknlrnas, avao tj`uij tj`sa sugsnknlrnas lra o`t oldak ls plrtnas t` tja

F`osaot @rkar `r Ldaokdaot. [ja Gloc sjlbb notairlta loy h`rafb`sura `r d`rtilia sarvnfnoi

lftnvntnas k`oa gy l sugsnknlry not` nts pblos, p`bnfnas, pr`irlds, lok pr`fassas raqunrak gy tja

F`osaot @rkar lok Ldaokdaot. [ja Gloc sjlbb aosura tjlt nts sugsnknlrnas f`dpby wntj lbb

tards lok pr`vnsn`os `h tja F`osaot @rkar lok Ldaokdaot.

(<<) [jns Ldaokdaot ns notaokak t` ga, lok sjlbb ga f`ostruak t` ga, l hnolb `rkar

nssuak pursulot t` <7 Q.V.F. § <:<:(g), lok axprassby k`as o`t h`rd, lok dly o`t ga f`ostruak

t` h`rd, l f`otrlft gnoknoi tja F`dptr`bbar r tja Qontak Vtltas. O`tjnoi no tjns Ldaokdaot

sjlbb lhhaft loy lftn`o lilnost tja Gloc `r nts nostntutn`o-lhhnbnltak plrtnas gy l gloc raiublt`ry

liaofy, tja Qontak Vtltas Kaplrtdaot `h Eustnfa, `r loy `tjar blw aoh`rfadaot liaofy, t` tja

axtaot pardnttak uokar lppbnflgba blw.

(<7) [ja tards `h tjns Ldaokdaot, nofbuknoi tjns plrlirlpj, lra o`t sugeaft t`

ldaokdaot `r d`knhnfltn`o gy loy axtrloa`us axprassn`o, prn`r liraadaots, `r prn`r

lrrloiadaots gatwaao tja plrtnas, wjatjar `rlb `r wrnttao.

(<6) O`tjnoi no tja Vtnpubltn`o t` tjns Ldaokdaot, axprass `r ndpbnak, sjlbb inva t`

loy pars`o `r aotnty, `tjar tjlo tja plrtnas jarat`, lok tjanr suffass`rs jarauokar, loy gaoahnt

`r loy bailb `r aquntlgba rnijt, radaky `r fblnd uokar tja Vtnpubltn`o t` tjns Ldaokdaot.

(<;) [ja Gloc f osaots t` tja nssulofa `h tjns Ldaokdaot gah ra tja hnbnoi `h loy

o`tnfas, `r tlcnoi `h loy tastnd`oy `r lkeuknfltn`o, lok s`baby h`r tja purp`sa `h sattbnoi tjns

dlttar wntj`ut l h`rdlb pr`faaknoi ganoi hnbak.

8/21/2019 The OCC Finds That Wells Fargo Bank, N.A. and Five Other Banks Have Not Complied With Consent Orders

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<8

LW[NFBA ZNX

GQVNOAVV WAV[WNF[N@OV

(<) [ja Gloc sjlbb o`t axafuta loy oaw f`otrlfts `r ldaok `r raoaw axnstnoi

f`otrlfts gay`ok furraot b`lo v`buda spafnhnak no axnstnoi f`otrlfts h`r tja lfqunsntn`o, gy tja

Gloc, `h rasnkaotnlb d`rtilia sarvnfnoi, rasnkaotnlb d`rtilia sarvnfnoi rnijts, rasnkaotnlb

d`rtilia b`los wntj sarvnfnoi, `r rasnkaotnlb d`rtilia `rninoltn`o gusnoass aotntnas uotnb

tardnoltn`o `h tja F`osaot @rkar. [jns k`as o`t lppby t` `rninoltn`os `r rahnolofnois gy tja

Gloc, f`otrlfts h`r oaw rasnkaotnlb d`rtilia b`los tjr`uij tja Gloc„s gr`car `r f`rrasp`okaot

fjlooabs, `r `tjar f`otrlftulb rabltn`osjnps wjara tja Gloc k`as o`t ubtndltaby sarvnfa tja

b`los, lok tjns ns o`t notaokak t` knsrupt loy `h tja Gloc„s axnstnoi rasnkaotnlb d`rtilia

sarvnfnoi rabltak f`otrlfts.

(7) [ja Gloc sjlbb o`t axafuta loy oaw f`otrlfts h`r tja Gloc t` parh`rd

rasnkaotnlb d`rtilia sarvnfnoi h`r `tjar plrtnas uotnb tardnoltn`o `h tja F`osaot @rkar.

(6) [ja Gloc sjlbb o`t `uts`urfa `r sug-sarvnfa loy oaw rasnkaotnlb d`rtilia

sarvnfnoi rabltak lftnvntnas t` `tjar plrtnas wntj`ut prn`r @FF suparvns`ry o`o-`geaftn`o uotnb

tardnoltn`o `h tja F`osaot @rkar. [jns ns o`t notaokak t` knsrupt loy `h tja Gloc„s axnstnoi

rasnkaotnlb d`rtilia sarvnfnoi rabltak f`otrlfts, `uts`urfak lftnvntnas, `r `gbniltn`os pursulot

t` bailb sattbadaot, o`r pr`jngnt oaw f`otrlfts t` `uts`urfa lftnvntnas tjlt lra furraotby

`uts`urfak.

(;) [ja Gloc sjlbb o`t `hh-sj`ra oaw rasnkaotnlb d`rtilia sarvnfnoi rabltak

lftnvntnas uotnb tardnoltn`o `h tja F`osaot @rkar.

(1) [ja Gloc sjlbb o`t lpp`not loy oaw saon`r `hhnfars wj` jlva rasp`osngnbnty h`r

rasnkaotnlb d`rtilia sarvnfnoi, rasnkaotnlb d`rtilia sarvnfnoi `parltn`os, rasnkaotnlb d`rtilia

sarvnfnoi rnsc dloliadaot, lok rasnkaotnlb d`rtilia sarvnfnoi f`dpbnlofa wntj`ut prn`r @FF

8/21/2019 The OCC Finds That Wells Fargo Bank, N.A. and Five Other Banks Have Not Complied With Consent Orders

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<9

suparvns`ry o`o-`geaftn`o uotnb tardnoltn`o `h tja F`osaot @rkar. Yntjno twaoty (7=) klys,

tja Gloc sjlbb sugdnt l bnst `h lppbnflgba adpb`yaa tntbas sugeaft t` tjns rastrnftn`o t` tja

Axldnoar-No-Fjlria h`r @FF suparvns`ry o`o-`geaftn`o.

LW[NFBA ZX

AVFJAL[DAO[ @H QOFLVJAK ]L^DAO[V

(<)  [ja @FF f`otnouas t` ratlno `varsnijt lok eurnsknftn`o `h NHW \VH< h`r tja

lkdnonstrltn`o `h plydaots t` g`rr`wars `h @FF raiubltak nostntutn`os uotnb sufj tnda ls tja

 plynoi liaot ns knraftak t` hnba l hnolb raturo wntj tja NWV h`r NHW \VH< lok NHW \VH< ns

tjaralhtar tardnoltak.

(7)  [ja @FF knrafts tjlt loy uoflsjak fjafcs tjlt jlva plssak tjanr stlba klta nssuak

hr`d NHW \VH< t` g`rr`wars `h @FF raiubltak nostntutn`os sjlbb ga asfjaltak t` tja stlta `h tja

 g`rr`war„s blst co`wo k`dastnf lkkrass s` tjlt sufj g`rr`war, `r tjanr rnijthub janrs, wnbb

dlnotlno tjanr lgnbnty t` fblnd sufj NHW \VH< plydaot pursulot t` tjlt stlta„s pr`fassas h`r

f`bbaftnoi uofblndak huoks.

N[ NV V@ @WKAWAK, tjns <8tj kly `h Euoa, 7=<1. 

/s/

D`rrns W. D`rilo

Kaputy F`dptr`bbar

Blria Gloc Vuparvnsn`o

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QON[AK V[L[AV @H LDAWNFL

KA]LW[DAO[ @H [JA [WALVQW^

F@D][W@BBAW @H [JA FQWWAOF^

No tja Dlttar `h5

Yabbs Hlri` Gloc, O.L.

Vn`ux Hlbbs, V`utj Klc`tl

)

))

)

)

LDAOKV LL-AF-<<-<>

lok

#7=<6-<67

V[N]QBL[N@O LOK F@OVAO[ [@ [JA NVVQLOFA @H L

F@OVAO[ @WKAW LDAOKNOI [JA 7=<< F@OVAO[ @WKAW lok

7=<6 LDAOKDAO[ [@ [JA 7=<< F@OVAO[ @WKAW

[ja F`dptr`bbar `h tja Furraofy `h tja Qontak Vtltas `h Ldarnfl (‒F`dptr`bbar—) notaoks

t` ldaok tja Lprnb <6, 7=<< F`osaot @rkar, LL-AF-<<-<> (‒7=<< F`osaot @rkar—), lok tja

Ldaokdaot t` tja 7=<< F`osaot @rkar, kltak Hagrulry 7:, 7=<6 (‒7=<6 LF@—), aotarak not`

 gatwaao tja F`dptr`bbar lok Yabbs Hlri` Gloc, O.L., Vn`ux Hlbbs, V`utj Klc`tl (‒Gloc—),

(f`bbaftnvaby, tja ‒F`osaot @rkar—), pursulot t` <7 Q.V.F. § <:<:(g).

[ja Gloc, no tja notarast `h f`dpbnlofa lok f``parltn`o, aotars not` tjns Vtnpubltn`o lok

F`osaot t` tja Nssulofa `h l F`osaot @rkar Ldaoknoi tja 7=<< F`osaot @rkar lok 7=<6 LF@

(‒Vtnpubltn`o—).

No f`osnkarltn`o `h tja lg`va pradnsas, tja F`dptr`bbar, tjr`uij jns lutj`rnzak

raprasaotltnva, lok tja Gloc, tjr`uij nts kuby abaftak lok lftnoi G`lrk `h Knraft`rs, stnpublta

lok liraa t` tja h`bb`wnoi5

<

8/21/2019 The OCC Finds That Wells Fargo Bank, N.A. and Five Other Banks Have Not Complied With Consent Orders

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LW[NFBA N

EQWNVKNF[N@O

(<) [ja Gloc ns l oltn`olb glocnoi lss`fnltn`o fjlrtarak lok axldnoak gy tja

F`dptr`bbar pursulot t` tja Oltn`olb Gloc Lft `h <:8;, ls ldaokak, <7 Q.V.F. § < at  saq.

(7) [ja F`dptr`bbar ns ‒tja lppr`prnlta Hakarlb glocnoi liaofy— railrknoi tja Gloc

 pursulot t` <7 Q.V.F. §§ <:<6(q) lok <:<:(g).

(6) [ja Gloc ns lo ‒nosurak kap`snt`ry nostntutn`o— wntjno tja dalonoi `h

<7 Q.V.F. § <:<:(g)(<).

(;) H`r tja purp`sas `h, lok wntjno tja dalonoi `h <7 F.H.W. §§ 1.6(i)(;), 1.1<(f)(8), lok

7;.7(a)(;), tja F`osaot @rkar Ldaoknoi tja 7=<< F`osaot @rkar lok 7=<6 LF@

(‒Ldaokdaot—) sjlbb o`t ga f`ostruak t` ga l ‒falsa lok kasnst `rkar— `r ‒f`osaot `rkar,— uobass

tja @FF noh`rds tja Gloc `tjarwnsa.

LW[NFBA NN

LIWAADAO[

(<) [ja Gloc, wntj`ut lkdnttnoi `r kaoynoi loy wr`oik`noi, f`osaots lok liraas t`

nssulofa `h tja Ldaokdaot gy tja F`dptr`bbar.

(7) [ja Gloc f`osaots lok liraas tjlt tja Ldaokdaot sjlbb5 (l) ga kaadak lo ‒`rkar

nssuak wntj tja f`osaot `h tja kap`snt`ry nostntutn`o— pursulot t` <7 Q.V.F. § <:<:(j)(7)3

(g) gaf`da ahhaftnva up`o nts axafutn`o gy tja F`dptr`bbar tjr`uij jns lutj`rnzak

raprasaotltnva3 lok (f) ga hubby aoh`rfalgba gy tja F`dptr`bbar pursulot t` <7 Q.V.F. § <:<:(n).

(6) O`twntjstloknoi tja lgsaofa `h dutulbnty `h `gbniltn`o, `r `h f`osnkarltn`o, `r `h

l f`otrlft, tja F`dptr`bbar dly aoh`rfa loy `h tja f`ddntdaots `r `gbniltn`os jarano

7

8/21/2019 The OCC Finds That Wells Fargo Bank, N.A. and Five Other Banks Have Not Complied With Consent Orders

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uokartlcao gy tja Gloc uokar jns suparvns`ry p`wars, nofbuknoi <7 Q.V.F. § <:<:(n), lok o`t ls

l dlttar `h f`otrlft blw. [ja Gloc axprassby lfco`wbakias tjlt oantjar tja Gloc o`r tja

F`dptr`bbar jls loy notaotn`o t` aotar not` l f`otrlft.

(;) [ja Gloc kafblras tjlt o` saplrlta pr`dnsa `r nokufadaot `h loy cnok jls gaao

dlka gy tja F`dptr`bbar, `r gy jns liaots `r adpb`yaas, t` flusa `r nokufa tja Gloc t` f`osaot

t` tja nssulofa `h tja Ldaokdaot lok/`r axafuta tja Ldaokdaot.

(1) [ja Gloc axprassby lfco`wbakias tjlt o` `hhnfar `r adpb`yaa `h tja F`dptr`bbar

jls stltut`ry `r `tjar lutj`rnty t` gnok tja Qontak Vtltas, tja Qontak Vtltas [ralsury Kaplrtdaot,

tja F`dptr`bbar, `r loy `tjar hakarlb gloc raiublt`ry liaofy `r aotnty, `r loy `hhnfar `r

adpb`yaa `h loy `h tj`sa aotntnas t` l f`otrlft lhhaftnoi tja F`dptr`bbar„s axarfnsa `h jns

suparvns`ry rasp`osngnbntnas.

(8) [ja tards lok pr`vnsn`os `h tjns Vtnpubltn`o lok tja Ldaokdaot sjlbb ga gnoknoi

up`o, lok noura t` tja gaoahnt `h, tja plrtnas jarat` lok tjanr suffass`rs no notarast. O`tjnoi no

tjns Vtnpubltn`o `r tja Ldaokdaot, axprass `r ndpbnak, sjlbb inva t` loy pars`o `r aotnty, `tjar

tjlo tja plrtnas jarat`, lok tjanr suffass`rs jarauokar, loy gaoahnt `r loy bailb `r aquntlgba rnijt,

radaky `r fblnd uokar tjns Vtnpubltn`o `r tja Ldaokdaot.

LW[NFBA NNN

YLNXAWV

(<) [ja Gloc, gy f`osaotnoi t` tjns Vtnpubltn`o, wlnvas5

(l) loy lok lbb pr`fakurlb rnijts lvlnblgba no f`ooaftn`o wntj tja nssulofa `h

tja Ldaokdaot3

6

8/21/2019 The OCC Finds That Wells Fargo Bank, N.A. and Five Other Banks Have Not Complied With Consent Orders

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  (g) lbb rnijts t` l jalrnoi lok l hnolb liaofy kafnsn`o pursulot t`

<7 Q.V.F. §§ <:<:(g) lok (j), <7 F.H.W. ]lrt <>3

(f) lbb rnijts t` saac loy typa `h lkdnonstrltnva `r euknfnlb ravnaw `h tja

Ldaokdaot3

(k) loy lok lbb fblnds h`r haas, f`sts `r axpaosas lilnost tja F`dptr`bbar, `r

loy `h jns liaots `r adpb`yaas, rabltak no loy wly t` tjns aoh`rfadaot dlttar `r tja

Ldaokdaot, wjatjar lrnsnoi uokar f`dd`o blw `r uokar tja tards `h loy stltuta,

nofbuknoi, gut o`t bndntak t`, tja Aqulb Lffass t` Eustnfa Lft, 1 Q.V.F. § 1=; lok

7: Q.V.F. § 7;<73 lok

(a) loy lok lbb rnijts t` fjlbbaoia `r f`otast tja vlbnknty `h tja Ldaokdaot.

LW[NFBA NX

@[JAW ]W@XNVN@OV

(<) [ja pr`vnsn`os `h tjns Vtnpubltn`o sjlbb o`t nojngnt, ast`p, glr, `r `tjarwnsa

 pravaot tja F`dptr`bbar hr`d tlcnoi loy `tjar lftn`o lhhaftnoi tja Gloc nh, lt loy tnda, nt kaads

nt lppr`prnlta t` k` s` t` hubhnbb tja rasp`osngnbntnas pblfak up`o nt gy tja savarlb blws `h tja

Qontak Vtltas `h Ldarnfl.

(7) O`tjnoi no tjns Vtnpubltn`o sjlbb prafbuka loy pr`faaknois gr`uijt gy tja

F`dptr`bbar t` aoh`rfa tja tards `h tja Ldaokdaot, lok o`tjnoi no tjns Vtnpubltn`o f`ostntutas,

o`r sjlbb tja Gloc f`otaok tjlt nt f`ostntutas, l wlnvar `h loy rnijt, p`war, `r lutj`rnty `h loy

`tjar raprasaotltnva `h tja Qontak Vtltas `r lo liaofy tjara`h, nofbuknoi, wntj`ut bndntltn`o, tja

Qontak Vtltas Kaplrtdaot `h Eustnfa, t` grnoi `tjar lftn`os kaadak lppr`prnlta.

;

8/21/2019 The OCC Finds That Wells Fargo Bank, N.A. and Five Other Banks Have Not Complied With Consent Orders

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  (6) [ja tards `h tjns Vtnpubltn`o lok tja Ldaokdaot lra o`t sugeaft t` ldaokdaot `r

d`knhnfltn`o gy loy axtrloa`us axprassn`o, prn`r liraadaots `r prn`r lrrloiadaots gatwaao tja

 plrtnas, wjatjar `rlb `r wrnttao.

NO [AV[ND@O^ YJAWA@H, tja uokarsnioak, lutj`rnzak gy tja F`dptr`bbar ls jns

raprasaotltnva, jls jarauot` sat jns jlok `o gajlbh `h tja F`dptr`bbar.

/s/ Euoa <8, 7=<1

D`rrns W. D`rilo KltaKaputy F`dptr`bbar

Blria Gloc Vuparvnsn`o

1

8/21/2019 The OCC Finds That Wells Fargo Bank, N.A. and Five Other Banks Have Not Complied With Consent Orders

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  NO [AV[ND@O^ YJAWA@H, tja uokarsnioak, ls tja kuby abaftak lok lftnoi G`lrk `h

Knraft`rs `h tja Gloc, jlva jarauot` sat tjanr jloks `o gajlbh `h tja Gloc.

/s/ Euoa :, 7=<1

E`jo I. Vtudph (Fjlnr) Klta

/s/ Euoa 9, 7=<1

Bb`yk J. Kalo Klta

/s/ Euoa >, 7=<1Aornqua Jarolokaz, Er. Klta

/s/ Euoa :, 7=<1

Fyotjnl J. Dnbbnilo Klta

/s/ Euoa >, 7=<1

Eldas J. \unibay Klta

/s/ Euoa :, 7=<1

Eukntj D. Wuostlk Klta

/s/ Euoa :, 7=<1

Vtapjao Y. Vloiar Klta

8