Company: WFC-PC
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0000072971-25-000201
Chunk: 103

Company: WELLS FARGO & COMPANY/MN
Filing Date: 2025-08-05
Form: 10-Q
Item: Item 1
Chunk 103
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 litigation and regulatory matters. For additional information on legal actions, see Note 10 (Legal Actions);•Customer remediation activities, which are associated with our efforts to identify areas or instances where customers may have experienced financial harm and provide remediation as appropriate. We have accrued for the probable and estimable costs related to our customer remediation activities. We had $145 million and $236 million of accrued liabilities for customer remediation activities as of June 30, 2025, and December 31, 2024, respectively. Amounts may change based on additional facts and information, as well as ongoing reviews and communications with our regulators; and•Other business activities such as deposit overdraft losses, fraud losses, and isolated instances of customer redress.Table 18.2 provides the components of our operating losses included in our consolidated statement of income.Table 18.2:  Operating LossesQuarter ended June 30,Six months ended June 30,(in millions)2025202420252024Legal actions$122 135 $103 152 Customer remediation12 184 22 612 Other177 174 329 362 Total operating losses$311 493 $454 1,126 Operating losses may have significant variability given the inherent and unpredictable nature of legal actions and customer remediation activities. The timing and determination of the amount of any associated losses for these matters depends on a variety of factors, some of which are outside of our control.OTHER EXPENSES.  Regulatory Charges and Assessments expense, which is included in other noninterest expense, was $244 million and $547 million in the second quarter and first half of 2025, respectively, compared with $335 million and $886 million in the same periods a year ago, and predominantly consisted of Federal Deposit Insurance Corporation (FDIC) deposit assessment expense, including amounts for the FDIC special assessment. For additional information on the FDIC special assessment, see Note 21 (Revenue and Expenses) in our 2024 Form 10-K.

122Wells Fargo & Company

Note 19:  Employee BenefitsPension and Postretirement PlansWe sponsor a frozen noncontributory qualified defined benefit retirement plan, the Wells Fargo & Company Cash Balance Plan (Cash Balance Plan), which covers eligible employees of Wells Fargo. The Cash Balance Plan was frozen on July 1, 2009, and no new benefits accrue after that date. For additional information on our pension and postret