Item 8.01. Other Events.
Effective April 8, 2020, Wells Fargo & Company (the "Company") entered into an
Amendment of Consent Order (the "Amendment") with the Board of Governors of the
Federal Reserve System (the "Federal Reserve") that amended the Consent Order,
dated February 2, 2018 (the "Consent Order"), between the Company and the
Federal Reserve regarding the Company's governance and risk management. The
Amendment allows the Company to exclude, for purposes of the Consent Order's
asset cap, any on balance sheet exposure resulting from loans made by the
Company in connection with the Small Business Administration's Paycheck
Protection Program and the Federal Reserve's Main Street Business Lending
Program, as described in, and subject to the terms and conditions of, the
Amendment.
The Amendment is attached to this report as Exhibit 99.1 and is incorporated by
reference into this Item 8.01. The discussion of the Amendment in this Item 8.01
is qualified in its entirety by reference to the Amendment.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
Exhibit No. Description Location
99.1 Amendment of Consent Order Filed herewith
104 Cover Page Interactive Data File Embedded within the
Inline XBRL document
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