Wells Fargo (Wells Fargo & Company, NYSE: WFC; primary bank subsidiary Wells Fargo Bank, N.A.) is one of the largest U.S. consumer banks. Its GLBA U.S. Consumer Privacy Notice discloses routine collection of SSN, employment, account, and credit information and shares broadly for everyday-business and marketing purposes with no opt-out, though it states it does not share with nonaffiliates or jointly market. Its Digital Privacy and Cookies Policy discloses marketing/advertising cookies used with service providers and third-party advertising partners, with Global Privacy Control honored on a per-domain, per-browser basis. Ownership is fully traceable via SEC filings: Wells Fargo & Company is a financial holding company and bank holding company whose national bank subsidiary is OCC-supervised. Track record is dominated by enforcement stemming from the 2016 sales-practices scandal: Wells Fargo remains subject to a February 2018 Federal Reserve consent order regarding the Board's governance and oversight and the company's compliance and operational risk management program, and the CFPB ordered the bank in December 2022 to pay $3.7 billion (over $2B redress, $1.7B penalty) for widespread mismanagement of auto loans, mortgages, and deposit accounts affecting over 16 million accounts.
TRACK RECORD
1 ENFORCEMENT ACTION
[2022-12-20]
The CFPB's December 20, 2022 order found Wells Fargo Bank repeatedly misapplied loan payments, wrongfully foreclosed on homes, illegally repossessed vehicles, and charged surprise overdraft fees affecting over 16 million consumer accounts, requiring more than $2 billion in consumer redress plus a $1.7 billion civil penalty.
The Wells Fargo Mobile App Store privacy label (self-reported by developer 'Wells Fargo') lists Location (precise and coarse), Contact Info (name, phone number, other user contact info), User Content (emails or text messages), and Identifiers (user ID, device ID) as data collected and linked to the user's identity, used for purposes including App Functionality; Financial Info is not listed under either linked or not-linked categories for this app.
As assessed by PrivacySpy on 2020-06-24 (see PrivacySpy's rubric entry for this product for the per-claim citation): Does the service collect personal data from third parties? — Yes.
Wells Fargo's U.S. Consumer Privacy Notice (GLBA notice, Rev. 04/25) states the types of personal information collected and shared depend on the product or service, and can include Social Security number and employment information, account balances and transaction history, and credit history and investment experience.
As assessed by PrivacySpy on 2020-06-24 (see PrivacySpy's rubric entry for this product for the per-claim citation): Does the policy outline the service's general security practices? — Somewhat.
Wells Fargo & Company's Annual Report on Form 10-K for fiscal year 2025 (filed with the SEC on February 24, 2026) discloses that the Parent is a financial holding company and bank holding company, and that the OCC has capital and supervisory requirements for the Company's national banks, including Wells Fargo Bank, N.A.
As assessed by PrivacySpy on 2020-06-24 (see PrivacySpy's rubric entry for this product for the per-claim citation): Does the policy allow personally-targeted or behavioral marketing? — Yes, but you may opt-out.
Wells Fargo's GLBA sharing table answers 'Yes' with no opt-out for everyday-business purposes and marketing with service providers, but answers 'No — we don't share' for both joint marketing with other financial companies and nonaffiliate marketing.
The Digital Privacy and Cookies Policy states Wells Fargo may disclose information to service providers such as data processors and companies that help market products or improve services, and, when permitted or required by law, to additional third parties.
As assessed by PrivacySpy on 2020-06-24 (see PrivacySpy's rubric entry for this product for the per-claim citation): Does the policy require users to be notified in case of a data breach? — Not necessarily.
The CFPB's December 20, 2022 order found Wells Fargo Bank repeatedly misapplied loan payments, wrongfully foreclosed on homes, illegally repossessed vehicles, and charged surprise overdraft fees affecting over 16 million consumer accounts, requiring more than $2 billion in consumer redress plus a $1.7 billion civil penalty.
Wells Fargo & Company's FY2025 Form 10-K discloses the company remains subject to a February 2018 Federal Reserve consent order regarding the Board's governance and oversight and the company's compliance and operational risk management program — the regulatory legacy of the 2016 fake-accounts sales-practices scandal — as well as a September 2024 formal agreement with the OCC on anti-money-laundering and sanctions risk management.
Wells Fargo's Digital Privacy and Cookies Policy (updated October 27, 2025) discloses a 'Marketing and advertising' cookie category that 'may be set by us or through our advertising partners' to make site content and online advertising more relevant, and states users can opt out of targeted advertising on nonaffiliated sites via the Global Privacy Control browser signal.