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Emerging growth company ¨
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Item 8.01.
Other Events.
Wells Fargo & Company (“Wells Fargo” or the “Company”) held a live conference call on January 15, 2019, to discuss its fourth quarter 2018 earnings, and during the call the
Company’s Chief Executive Officer and President, Timothy J. Sloan, provided an update on matters relating to the Company’s consent order, dated February 2, 2018, with the Board of Governors of the Federal Reserve System (the “Federal Reserve”). Mr. Sloan noted that the Company continues to have constructive dialogue with the Federal Reserve on an ongoing basis to clarify expectations, receive feedback and assess progress under the consent order. Mr. Sloan also noted that in order to have enough time to incorporate this feedback into the Company’s plans in a thoughtful manner, adopt and implement the final plans as accepted by the Federal Reserve, and complete the
required third-party reviews, the Company is now planning to operate under the consent order’s asset cap limitation through the end of 2019.
Cautionary Statement about Forward-Looking Statements
This report contains forward-looking statements about our future financial performance and business, including our plans and expectations relating to the consent order and its asset cap limitation. Because forward-looking statements are based on our current expectations and assumptions regarding the future, they are subject to inherent risks and uncertainties. Do not unduly rely on forward-looking statements as actual results could differ materially from expectations. Forward-looking statements speak only as
of the date made, and we do not undertake to update them to reflect changes or events that occur after that date. For information about factors that could cause actual results to differ materially from our expectations, refer to our reports filed with the Securities and Exchange Commission, including the “Forward-Looking Statements” discussion in Wells Fargo’s most recent Quarterly Report on Form 10-Q as well as to Wells Fargo’s other reports filed with the Securities and Exchange Commission, including the discussion under “Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2017, available on its website at www.sec.gov.
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SIGNATURE
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
