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Home/Bank Intelligence/United States/Wells Fargo Private Bank
Wells Fargo Private BankWF
Wells Fargo Private Bank US review

Wells Fargo Bank, National Association

Our review of Wells Fargo Private Bank US for ultra-high-net-worth families. We researched the legal entity that holds the licence and books the account, not just the brand.

Booking centreUnited States
RegulatorOCC
Legal formLocally incorporated subsidiary
GroupWells Fargo & Company
Founded1870
Websitewellsfargo.com
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PPLI.com
Private Bank Rating
Rating in preparation

We are still preparing the rating for this bank. What we have on file so far is below.

About the rating
The rating

What the PPLI.com rating of Wells Fargo Private Bank considers

This is our editorial assessment of Wells Fargo Private Bank. We look at the areas below, which matter to a family deciding where to keep its assets, and weigh them together with what clients tell us and the service they get. Retail products, branches and apps play no part. The public sources we used are listed at the foot of the page.

Conduct and enforcement

What regulators, prosecutors and courts have concluded about this licence holder in recent years.

Protection of client assets

Whether custody assets are ring-fenced by law in the booking centre, whether deposits are protected, and whether the custody terms can be read before signing.

Service for complex families

The breadth of private banking services the bank publishes for this booking unit, including work with external managers and family offices.

Cost transparency

Whether a prospective client can see the tariff and the bank's policy on third party payments before asking.

Ownership and control

Whether the bank's owners are public, how official assessments rate the anti-money-laundering regime of any owner's home jurisdiction, and whether a politically exposed person holds a significant stake. The same test applies to every bank.

Client opinions and service

What clients of Wells Fargo Private Bank and their advisers tell us in confidence, and the service the bank gives to families. We never publish names. Tell us about yours

PPLI.comPrivate Bank RatingRating in preparation

The rating expresses the opinion of PPLI.com on the date shown. It is not a statement of fact about the bank, not a credit rating, not a forecast of failure and not investment advice. Read about the rating.

The record

Regulatory and legal record

What regulators, prosecutors and courts have decided, recorded against the legal entity they named, with the status, the amounts as published and a link to the original document. Claims and investigations still under way are marked as open.

202220 December 2022

Consent order: mismanagement of auto loans, mortgages and deposit accounts

The CFPB ordered Wells Fargo Bank, N.A. to pay more than USD 2 billion in consumer redress and a USD 1.7 billion civil penalty (USD 3.7 billion total) for unfair and deceptive practices in auto loan servicing, mortgage modifications and foreclosures, overdraft fees and account freezes.

The Consumer Financial Protection Bureau (CFPB) is ordering Wells Fargo Bank to pay more than $2 billion in redress
Consumer Financial Protection Bureau · Settlement without admission · Restitution USD 2,000 million; Penalty USD 1,700 million · Primary source
20168 September 2016

Consent order: secretly opening unauthorised deposit and credit card accounts

The CFPB fined Wells Fargo Bank, N.A. USD 100 million because employees secretly opened unauthorised deposit and credit card accounts to meet sales targets; the release also cites a USD 35 million OCC penalty and USD 50 million to the City and County of Los Angeles, and full restitution to victims. These are separate payments by authority, listed individually.

Today the Consumer Financial Protection Bureau (CFPB) fined Wells Fargo Bank, N.A. $100 million for the widespread illegal
Consumer Financial Protection Bureau (with OCC and City and County of Los Angeles) · Settlement without admission · Penalty cfpb USD 100 million; Penalty occ USD 35 million; Payment los angeles USD 50 million · Primary source
Matters concerning other entities in the group (1)
20182 February 2018

Consent cease and desist order with asset growth restriction

Consent cease and desist order against Wells Fargo & Company with a restriction on asset growth. The Federal Reserve lifted the asset cap on 3 June 2025 and terminated the order on 5 March 2026.

The order is addressed to Wells Fargo & Company, the holding company that controls the bank.

Responding to recent and widespread consumer abuses and other compliance breakdowns by Wells Fargo
Federal Reserve Board · Settlement without admission · Terminated 5 March 2026 · Primary source
The bank at a glance

Identity, protection and services

Legal identity

Legal nameWells Fargo Bank, National Association
LEIKB1H1DSPRFMYMCUFXT09
LicenceNational bank (OCC), FDIC cert 3511  Source
RegulatorOCC
Legal formLocally incorporated subsidiary
OwnerWells Fargo & Company

Ownership

Group parentWells Fargo & Company (listed, NYSE (WFC))  Source
ControlWidely held; no shareholder with 10% or more

Ownership is shown as published, with its date. It describes who owns the bank; it does not, by itself, suggest any wrongdoing by the bank or its owners.

Financial strength, as reported

Credit ratingsNot published
CET1 ratioNot published
total assetsUSD 1,907,928 m (2026-06-30)  Source

Services published for this booking unit

Private clients
Discretionary management
Advisory mandates
Custody only (execution and safekeeping)
Lombard lending
Mortgage lending
Multi currency accounts
Trust and fiduciary services
Family office services
Wealth planning
Consolidated reporting
External asset manager desk

Offered at this booking centreOffered by the group, not confirmed hereNot located, which does not mean unavailable
Checked on the bank's own pages, 2 November 2026.

Access and costs

Minimum relationshipNot published
US personsNot published
Fee scheduleNot published
Third party paymentsNot published
Transfer out termsNot published

Protection of client assets

Deposit protectionNational banks are FDIC insured: USD 250,000 per depositor, per bank, for each ownership category. Securities are not deposits.
Custody law12 CFR 9.13(b) requires a national bank to keep fiduciary account assets separate from the bank's own assets; securities at a broker-dealer are customer property under SIPA with SIPC protection. Re-use and lending are governed by account agreements and regulator rules rather than a single statute.
Custody termsNot published
Your experience

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If you bank with Wells Fargo Private Bank or advise clients who do, your experience forms part of its PPLI.com rating. Every response is read by the editor and treated in strict confidence.

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Our commitment to confidentiality

Your name, email and telephone number are seen only by the PPLI.com editor. They are never published, never passed to Wells Fargo Private Bank or any other bank, and never used for marketing. We may contact you once to clarify your assessment. Once verified by our editors, your assessment can lead to a disclosed adjustment of this bank's PPLI.com rating. It is never published with your name.

Sources

  1. Consumer Financial Protection Bureau: consumerfinance.gov/about-us/newsroom/cfpb-orders-wells-fargo-to-pay-37-billion-for-widesp
  2. Consumer Financial Protection Bureau (with OCC and City and County of Los Angeles): consumerfinance.gov/about-us/newsroom/consumer-financial-protection-bureau-fines-wells-far
  3. Federal Reserve Board: federalreserve.gov/newsevents/pressreleases/enforcement20180202a.htm

For Wells Fargo Private Bank

Before we publish a significant negative finding, we give the bank the facts and time to comment, on the same timetable for every bank. Corrections we verify are published with the date of the change. Write to [email protected] quoting reference BK-US-WELLS-FARGO-37F6F8.

About this file

Researched by the PPLI.com research desk from the public sources listed. The rating is our editorial opinion; read how we rate.

Important information. Editorial opinion of PPLI.com on the date shown, based on public information, client experience and editorial judgment. Not a statement of fact, a credit rating or investment, legal, tax or financial advice; verify with the bank and your own advisers before acting. No liability is accepted for reliance on this content. Bank names and logos are used for identification only. Ratings are updated every quarter. This is the Q4 2026 edition, and a rating can change between editions if something material happens. Full disclaimer
Rating signed by Noam Cohen, Editor, Bank IntelligenceReviewed 2 November 2026Methodology 2.3Reference BK-US-WELLS-FARGO-37F6F8
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