Form 10-Q  SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.  20549 Quarterly Report Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934   For Quarter Ended March 31, 2001      Commission file number 2-80466   Wells Fargo
  Financial, Inc.(Exact name of registrant as specified in
  its charter)
   Iowa

  42 1186565(State or other jurisdiction of

  (I.R.S. Employerincorporation
  or organization)

  Identification
  No.)
    206 Eighth Street,
  Des Moines, Iowa

  50309(Address
  of principal executive offices)

  (Zip
  Code)
   Registrants
  telephone number, including area code

  (515) 243-2131
   Indicate by check mark
whether the registrant (1) has filed all reports required to be filed by
Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding
12 months (or for such shorter period that the registrant was required to file
such reports), and (2) has been subject to such filing requirements for the
past 90 days.   YesxNo
o. Indicate the number of shares outstanding of
each of the issuers classes of common stock, as of the latest practicable
date.  Common Stock (without par
value):  1,000 shares outstanding as of
May 11,  2001. The registrant meets the conditions
set forth in General Instruction H(1)(a) and (b) of Form 10-Q and is therefore
filing this Form with the reduced disclosure format.


PART I.  FINANCIAL INFORMATION WELLS FARGO FINANCIAL,
INC. Consolidated Balance
Sheets (Unaudited) (Thousands of Dollars)  March 31,
  2001

  December 31,
  2000AssetsCash and cash equivalents

  $232,068

  $205,036Securities
  available-for-sale

  1,283,545

  1,215,135Finance receivables

  12,243,490

  11,417,862Less
  allowance for credit losses

  503,074

  462,555Finance receivables - net

  11,740,416

  10,955,307Notes receivable -
  affiliates

  662,851

  505,386Property
  and equipment (at cost, lessaccumulated depreciation of $143,170               for 2001 and $148,042
  for 2000)

  64,883

  63,651Deferred income taxes

  104,104

  111,262Other
  assets

  600,769

  520,971Total assets

  $14,688,636

  $13,576,748 See accompanying notes to
consolidated financial statements.


WELLS FARGO FINANCIAL, INC. Consolidated Balance
Sheets (Unaudited) (Thousands of Dollars)  March 31,

  December 31,Liabilities andStockholders Equity

  2001

  2000Loans
  payable - short-term:Commercial paper

  $3,271,645

  $2,973,508Affiliates

  320,189

  99,379Other

  153,894

  709,988Unearned
  insurance premiumsand commissions

  140,275

  139,476Insurance
  claims and policy reserves

  35,158

  34,978Accrued
  interest payable

  120,662

  121,007Other
  payables to affiliates

  36,701

  48,761Other
  liabilities

  463,970

  370,363Long-term
  debt:Senior

  7,594,704

  6,968,803Affiliate

  500,000

  255,870Total liabilities

  12,637,198

  11,722,133Stockholders
  equity:Common stock without par value(authorized 1,000 shares, issuedand outstanding 1,000 shares)

  3,855

  3,855Additional paid in capital

  442,302

  312,302Retained earnings

  1,600,945

  1,540,902Accumulated other comprehensiveincome (loss), net of income taxes

  4,336

  (2,444)Total stockholders equity

  2,051,438

  1,854,615Total liabilities andstockholders equity

  $14,688,636

  $13,576,748  See accompanying notes to
consolidated financial statements.


WELLS FARGO FINANCIAL,
INC. Consolidated Statements
of Income (Unaudited) (Thousands of Dollars)  Three Months Ended March 31,2001

  2000Income:Finance charges and interest

  $542,833

  $448,992Insurance premiums and commissions

  30,340

  25,648Other income

  64,253

  50,473Total income

  637,426

  525,113Expenses:Operating expenses

  225,239

  205,165Interest and debt expense

  189,764

  143,545Provision for credit losses

  108,435

  77,359Insurance losses and loss expenses

  11,264

  13,311Total expenses

  534,702

  439,380Income before income taxes

  102,724

  85,733Income
  taxes

  37,922

  31,596Net income

  $64,802

  $54,137  See
accompanying notes to consolidated financial statements.


WELLS FARGO FINANCIAL,
INC. Consolidated Statements
of Comprehensive Income (Unaudited) (Thousands of Dollars)  Three Months Ended
  March 31,2001

  2000Net
  income

  $64,802

  $54,137Other
  comprehensive income(loss), before income taxes:Unrealized gains (losses) onsecurities available-for-sale:Unrealized gains (losses)arising during the period

  16,206

  (7,511)Reclassification
  adjustment fornet gains included in
  net income

  (2,110)

  (2,373)14,096

  (9,884)Foreign currencytranslation adjustment

  (2,432)

  (183)Other comprehensive income(loss) before income taxes

  11,664

  (10,067)Income
  tax expense (benefit) relatedto unrealized gains (losses)
  onsecurities available-for-sale

  4,884

  (3,367)Other
  comprehensive income(loss), net of income taxes

  6,780

  (6,700)Comprehensive income

  $71,582

  $47,437  See
accompanying notes to consolidated financial statements. WELLS FARGO FINANCIAL,
INC.

Consolidated Statements
of Cash Flows (Unaudited)

(Thousands of Dollars)

Three Months Ended
  March 31,2001

  2000Cash
  flows from operating activities:Net income

  $64,802

  $54,137Adjustments to reconcile net income tonet cash flows from operating
  activities,net of effect of contributed
  subsidiaries:Provision for credit losses

  108,435

  77,359Depreciation and amortization

  13,053

  12,801Deferred income taxes

  3,721

  (1,928)Other assets

  35,456

  (18,921)Unearned insurance premiumsand commissions

  799

  (1,486)Insurance claims and policy
  reserves

  180

  640Accrued interest payable

  (345)

  (2,980)Other payables to affiliates

  (12,060)

  45,957Other liabilities

  7,969

  (55,810)Net
  cash provided by operating activities

  222,010

  109,769Cash
  flows from investing activities:Finance receivables:Principal collected

  2,264,657

  2,039,323Receivables originated or purchased

  (2,372,766)

  (2,197,710)Proceeds from sales of
  securities

  93,161

  37,063Proceeds from maturities of
  securities

  43,018

  32,988Purchases of securities

  (193,620)

  (62,513)Net additions to property and
  equipment

  (4,714)

  (3,655)Net increase in notes
  receivable  affiliates,net of effect of
  contributed subsidiaries

  (157,465)

  (18,829)Cash and cash equivalents of
  contributedsubsidiaries received and
  subsidiary transferred

  (1,567)

  477Net cash used for acquisition

  (324,573)Other

  (50,067)

  57,502Net
  cash used by investing activities

  (703,936)

  (115,354)Cash
  flows from financing activities:Net decrease in loans payable
   short term

  (37,147)

  (400,683)Proceeds from issuance of
  long term debt:Senior

  581,364

  68,989Affiliate

  244,130

  500,000Repayment of senior long-term debt

  (409,389)

  (186,545)Capital contribution by
  parent

  130,000Dividend paid

  

  (45,000)Net
  cash provided (used) by financing activities

  508,958

  (63,239)Net increase (decrease) in
  cash and cash equivalents

  27,032

  (68,824)Cash
  and cash equivalents beginning of period

  205,036

  178,970Cash
  and cash equivalents end of period

  $232,068

  $110,146See
accompanying notes to consolidated financial statements

WELLS FARGO FINANCIAL,
INC.

Consolidated Statements
of Stockholders Equity (Unaudited)

(Thousands
of Dollars)



Accumulated Other
  Comprehensive Income (Loss)Common
  Stock

  Additional 
  Paid In Capital

  Retained Earnings

  Foreign Currency Translation

  Unrealized Gains (Losses) on
  Securities Available-
  for-Sale

  TotalBalance, December 31, 1999

  $3,855

  $196,697

  $1,407,743

  $(9,575)

  $(11,156)

  $1,587,564Comprehensive
  income (loss):Net income

  

  

  54,137

  

  

  54,137Other

  

  

  

  (183)

  (6,517)

  (6,700)Contributed
  subsidiaries

  

  12,427

  (11,168)

  

  

  1,259Dividends

  

  

  (45,000)

  

  

  (45,000)Balance,
  March 31, 2000

  $3,855

  $209,124

  $1,405,712

  $(9,758)

  $(17,673)

  $1,591,260Balance, December 31, 2000

  $3,855

  $312,302

  $1,540,902

  $(11,220)

  $8,776

  $1,854,615Comprehensive
  income (loss):Net income

  

  

  64,802

  

  

  64,802Other

  

  

  

  (2,432)

  9,212

  6,780Capital contribution from
  parent

  

  130,000

  

  

  

  130,000Transfer
  of subsidiary

  

  

  (4,759)

  

  

  (4,759)Balance,
  March 31, 2001

  $3,855

  $442,302

  $1,600,945

  $(13,652)

  $17,988

  $2,051,438

See
accompanying notes to consolidated financial statements.


WELLS FARGO FINANCIAL,
INC. Notes to Consolidated
Financial Statements (Unaudited)  The
accompanying unaudited consolidated financial statements and notes have been
prepared in accordance with the accounting policies set forth in Wells Fargo
Financial, Inc.s 2000 Annual Report on Form 10-K, except as described in note
8, and should be read in conjunction with the Notes to Consolidated Financial
Statements therein.  In the opinion of
management, all adjustments (none of which were other than normal recurring
accruals) necessary to present fairly the financial statements for the periods
presented have been included.
The results of operations for interim periods are not necessarily indicative of
the results to be expected for the entire year. 1.          Principles of Consolidation. The
consolidated financial statements include the accounts of Wells Fargo
Financial, Inc. (the Company) and subsidiaries (collectively, Wells Fargo
Financial).  Intercompany accounts and
transactions are eliminated.  The
Company is a wholly-owned subsidiary of Wells Fargo Financial Services, Inc.
(the Parent) which is a wholly-owned subsidiary of Wells Fargo & Company
(Wells Fargo). 2.          Dividend Restrictions. Certain
long-term debt instruments restrict payment of dividends on and acquisitions of
the Companys common stock.  In
addition, such debt instruments and the Companys bank credit agreements
contain certain requirements as to maintenance of net worth (as defined).  Approximately $1,053 million of consolidated
stockholders equity was unrestricted at March 31, 2001. 3.          Other Income. Income from affiliates was $11.4
million and $8.7 million for the three months ended March 31, 2001 and 2000,
respectively. Interest
and dividends from securities available-for-sale and cash equivalents were
$19.0 million and $19.9 million for the three months ended March 31, 2001 and
2000, respectively.


WELLS FARGO FINANCIAL,
INC. Notes toConsolidated Financial Statements
(Unaudited)  4.          Finance Receivables. Finance
receivables are as follows: March 31,

  December 31,(In Thousands)

  2001

  2000United States consumer
  finance:Loans secured by real estate

  $2,676,229

  $2,507,419Consumer loans

  1,375,377

  1,460,746Total loans

  4,051,606

  3,968,165Sales finance contracts

  1,229,724

  1,295,147Credit cards

  1,123,152

  1,148,486Total United States consumer finance

  6,404,482

  6,411,798Canadian consumer finance:Loans secured by real estate

  83,233

  85,000Consumer loans

  429,926

  452,581Total loans

  513,159

  537,581Sales finance contracts

  444,339

  497,379Credit cards

  20,773

  21,298Total
  Canadian consumer finance

  978,271

  1,056,258Automobile finance

  3,132,731

  3,078,026Leasing

  1,285,030

  442,665Other

  442,976

  429,115Total finance receivables

  $12,243,490

  $11,417,862


WELLS FARGO FINANCIAL,
INC. Notes to Consolidated
Financial Statements (Unaudited)  5.          Allowance for Credit Losses. The
analysis of the allowance for credit losses is as follows: Three Months Ended
  March 31,(In
  Thousands)

  2001

  2000Allowance
  for credit lossesbeginning of period

  $462,555

  $367,712Provision for credit
  lossescharged to expense

  108,435

  77,359Write-offs

  (127,519)

  (88,525)Recoveries

  20,028

  15,589Allowance related to businesses
  contributed or acquired

  39,575

  9,843Allowance for credit losses
  end of period

  $503,074

  $381,978 6.          Statements
of Consolidated Cash Flows. The Company and its subsidiaries
consider highly liquid debt instruments purchased with an original maturity of
three months or less to be cash equivalents. 
Supplemental disclosure of certain cash flow information is presented
below: Three Months Ended
  March 31,(In
  Thousands)

  2001

  2000Cash
  paid for:Interest

  $184,928

  $159,977Income taxes

  40,423

  4,310


WELLS FARGO FINANCIAL,
INC. Notes to Consolidated
Financial Statements (Unaudited)  7.          Segment Information. The Company has four reportable
segments: U.S. consumer finance, Canadian consumer finance, automobile finance,
and leasing.  The Companys operating
segments are determined by product type and geography.  U.S. consumer finance operations make loans
to individuals and purchase sales finance contracts through 787 consumer
finance branches in 47 states, Guam, Saipan, and Puerto Rico.  The U.S. consumer finance segment also
issues credit cards through two banking subsidiaries.  Canadian consumer finance operations make loans to individuals
and purchase sales finance contracts through 160 consumer finance branches in
the 10 provinces. Automobile finance operations specialize in purchasing sales
finance contracts directly from automobile dealers and making loans secured by
automobiles through 190 branches in 34 states and Puerto Rico.  Leasing operations specialize in financing
commercial equipment such as office copiers, telephone systems, health care
equipment, small computers, and light industrial equipment.  Lease finance receivables are generated
primarily from equipment distributors ranging from small independently-owned
vendors to large equipment manufacturers. 
Results from insurance operations are included in the appropriate
segment. Selected
financial information for each segment is shown below:  (In
  Thousands)U.S.
  Consumer
  Finance

  Canadian
  Consumer
  Finance

  AutomobileFinance

  Leasing

  Other*

  TotalThree
  Months Ended
  March 31,:2001

  2000

  2001

  2000

  2001

  2000

  2001

  2000

  2001

  2000

  2001

  2000Finance charges and
  interest

  $304,082

  $257,810

  $60,926

  $61,373

  $129,920

  $101,722

  $32,021

  $12,828

  $15,884

  $15,259

  $542,833

  $448,992Total income

  370,589

  315,294

  67,427

  67,890

  137,334

  106,284

  37,210

  14,006

  24,866

  21,639

  637,426

  525,113Net income

  31,799

  38,313

  10,308

  6,796

  11,444

  9,855

  8,183

  2,697

  3,068

  (3,524)

  64,802

  54,137Total assets

  8,248,182

  6,956,338

  1,066,770

  1,173,168

  3,403,378

  2,381,988

  1,394,597

  372,834

  575,709

  554,672

  14,688,636

  11,439,000  *

  Information
  from other segments below the quantitative threshold are attributable to
  miscellaneous insurance companies, collection services, operations in
  Argentina and commercial finance operations including rediscounting.  Subsidiaries engaged in multiple peril
  crop insurance were transferred to another subsidiary of Wells Fargo
  effective June 1, 2000.


WELLS FARGO FINANCIAL,
INC. Notes to Consolidated
Financial Statements (Unaudited)  8.          Recent
Accounting Standards. In June 1998, the Financial
Accounting Standards Board (FASB) issued Statement of Financial Accounting
Standards No. 133 (FAS 133), Accounting for Derivative Instruments and Hedging
Activities.  In July 1999, the FASB
issued FAS 137, Deferral of the Effective Date of FASB Statement No. 133, which
defers the effective date for implementation of FAS 133 to no later than
January 1, 2001 for the Companys financial statements.  In June 2000, the FASB issued FAS 138,
Accounting for Certain Derivative Instruments and Certain Hedging Activities,
an amendment to FAS 133.  The Company
implemented the statements on January 1, 2001 and there was no material impact
on the Companys financial statements as a result of the implementation. In September 2000, the FASB issued
Statement No. 140 (FAS 140), Accounting for the Transfers and Servicing of
Financial Assets and Extinguishments of Liabilities, which replaces FAS 125 (of
the same title).  FAS 140 revises
certain standards in the accounting for securitizations and other transfers of
financial assets and collateral, and requires certain disclosures relating to
securitization transactions and collateral, but it carries over most of FAS
125s provisions.  The collateral and
disclosure provisions of FAS 140 were effective for year-end 2000 financial
statements.  The other provisions of
this Statement are effective for transfers and servicing of financial assets
and extinguishments of liabilities occurring after March 31, 2001; the Company
has determined the revised provisions will not have a material impact on the
financial statements.  9.          Business
Combinations. Effective January 31, 2001, the
Company acquired substantially all of the assets and assumed certain
liabilities of Conseco Finance Vendor Services Corporation, a leasing company
based in Paramus, New Jersey.  The
acquisition was accounted for as a purchase. 
The assets and liabilities acquired were recorded at fair value, and the
Companys financial statements contain only the results of operations since the
acquisition date.  Conseco Finance
Vendor Services Corporation had lease receivables outstanding of $825 million
and had another $135 million of lease receivables under management at the time
of acquisition.


WELLS FARGO FINANCIAL, INC. Managements Discussion
and Analysis
of Financial Condition and Results of Operations  Statements made in
Managements Discussion and Analysis may be forward-looking and are made
pursuant to the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995.  Forward-looking
statements address managements present expectations about future performance
and involve inherent risks and uncertainties. 
A number of important factors (some of which are beyond the Companys
control) could cause actual results to differ materially from those in the
forward-looking statements.  Those
factors include the economic environment, competition, products and pricing in
the geographic and business areas in which the Company conducts its operations,
prevailing interest rates, changes in government regulations and policies
affecting financial services companies, credit quality and credit risk
management, acquisitions, and integration of acquired businesses. Wells
Fargo Financials net income for the first three months of 2001 was $64.8
million compared with $54.1 million for the first three months of 2000.  Net income in the first quarter of 2000
included a $4.4 million loss incurred by subsidiaries engaged in multiple peril
crop insurance business.  On June 1,
2000 these subsidiaries were transferred to another affiliate of Wells Fargo
& Company.  Excluding these
operations, net income increased to $64.8 million for the first three months of
2001 compared with $58.5 million in the first three months of 2000. Wells
Fargo Financials total income (revenue) increased 21% for the first three
months ($637.4 million in the first three months of 2001 compared with $525.1
million in the first three months of 2000). Income
from finance charges and interest increased 21% for the first three months
($542.8 million in the first three months of 2001 compared with $449.0 million
in the first three months of 2000). 
Changes in income from finance charges and interest result predominantly
from (1) changes in the amount of finance receivables outstanding and (2)
changes in the rate of charge on those receivables. Three Months Ended
  March 31,Increase
  in average financereceivables outstanding:2001

  2000U.S. consumer finance

  20%

  15%Canadian consumer finance

  4

  8Automobile finance

  43

  7Leasing

  159

  2Other

  24

  47Total

  29

  12  Rate
  of charge on finance receivables:

  2001

  2000U.S. consumer finance

  18.78%

  19.04%Canadian consumer finance

  23.53

  24.48Automobile finance

  16.76

  18.76Leasing

  12.81

  13.32Other

  14.84

  18.26Total

  18.03

  19.29


The increases in income from finance
charges and interest were due predominantly to growth in average receivables
outstanding.  Growth in average
receivables for U.S. consumer finance & Canadian consumer finance were due
to the purchase of $400 million in credit card receivables on June 30, 2000 and
due to regular business activity. 
Growth in average receivables for automobile finance was due primarily
to the purchase of Flagship Credit Corporation on December 20, 2000.  The average receivable growth in leasing
receivables was due primarily to the purchase of Conseco Finance Vendor Service
Corporation on January 31, 2001. 
Changes in the earned rates of charge were due to changes in prevailing
market rates combined with a change in the portfolio mix.  The decline in the earned rate of charge for
automobile finance was predominately due to the change in portfolio mix as a
result of the Flagship purchase.  The
decline in the earned rate of charge for other finance receivables occurred due
to the change in portfolio mix occurring due to the growth of rediscounting
operations. Other
income increased 27% ($64.3 million in the first three months of 2001 compared
with $50.5 million in the first three months of 2000).  The increase in other income was due
predominantly to additional fee income originating from the companies acquired
in the past year. Operating
expenses increased 10% ($225.2 million in the first three months of 2001
compared with $205.2 million in the first three months of 2000).  The increase was due primarily to increases
in employee compensation and benefits and other costs relating to business expansion
and acquisitions. Interest
and debt expense increased 32% ($189.8 million in the first three months of
2001 compared with $143.5 million in the first three months of 2000).  Changes in interest and debt expense result
predominantly from (1) changes in the amount of borrowings outstanding and (2)
changes in the cost of those borrowings. 
Average total outstanding borrowings in the first three months of 2001
increased 29% from the first three months of 2000. Three Months Ended
  March 31,Costs
  of funds:

  2001

  2000Short-term

  6.11%

  6.15%Long-term

  6.66

  6.50Total

  6.49

  6.40  Changes in average debt outstanding
generally correspond to changes in average finance receivables outstanding
combined with the change in notes receivable - affiliates.  Average finance receivables and notes
receivable - affiliates increased 30% from the first three months of 2000. Provision
for credit losses increased 40% ($108.4 million in the first three months of
2001 compared with $77.4 million in the first three months of 2000) due to
growth of average receivables outstanding. 
Net write-offs increased 47% in the first three months of 2001.  The increase was due primarily to higher
write-offs in the Companys U.S. consumer finance portfolio and due to increased
write-offs in the Companys leasing portfolio (see following table.)  This increase was partially offset by
improvements in the automobile finance business and the Companys private label
credit card business in Canada.


Three Months
  Ended March 31,Net
  write-offs, not annualized, as a       percentage of average net
  receivablesoutstanding:

  2001

  2000U.S. consumer finance

  1.02%

  .62%Canadian consumer finance

  1.02

  1.42Automobile finance

  .75

  .97Leasing

  .58

  .23Other

  .32

  .95Total

  .89

  .78 During
2001, the provision for credit losses exceeded net write-offs by $1
million.  At March 31, 2001, the Company
had an allowance for credit losses of $503.1 million (4.11% of receivables)
compared with $462.6 million (4.05% of receivables) at December 31, 2000.  There were no material changes in estimation
methods and assumptions during 2001 and 2000. 
Non-accrual finance receivables were $65.7 million at March 31, 2001
compared with $58.0 million at December 31, 2000.  In addition, finance receivables outstanding which were more than
three payments contractually delinquent and which were still accruing interest
were $161.1 million at March 31, 2001 compared with $159.9 million at December
31, 2000.  Management believes the
allowance for credit losses at March 31, 2001, is adequate to absorb probable
losses on existing receivables in the finance receivables portfolio. Income taxes increased 20% ($37.9
million in the first three months of 2001 compared with $31.6 million in the
first three months of 2000).  Income
before income taxes increased 20% ($102.7 million in the first three months of
2001 compared with $85.7 million in the first three months of 2000.)  The effective tax rate was 36.9% for the
first three months of 2001 and for the first three months of 2000. The
Company maintains bank lines of credit and revolving credit agreements to
provide an alternative source of liquidity to support the Companys commercial
paper borrowings.  At March 31, 2001,
lines of credit and revolving credit agreements totaling $2,354 million were
being maintained at 19 domestic and international banks; the entire amount was
available on that date.  Additionally,
the Companys bank subsidiaries, Wells Fargo Financial Bank and Wells Fargo
Financial National Bank, have access to federal funds borrowings.  At March 31, 2001, federal funds
availability at the two banks was $794 million. The
Company and a Canadian subsidiary obtain long-term debt capital primarily from
the issuance of debt securities to the public through underwriters on a
firm-commitment basis and the issuance of debt securities to institutional
investors.  The Company and a Canadian
subsidiary also obtain long-term debt from the issuance of medium-term notes
(which have maturities ranging from nine months to 30 years) through
underwriters (acting as agent or principal). The
Company anticipates the continued availability of borrowed funds, at prevailing
interest rates, to provide for Wells Fargo Financials growth in the
foreseeable future.  Funds are also
generated internally from payments of principal and interest on Wells Fargo
Financials finance receivables.


PART II.  OTHER INFORMATION WELLS FARGO FINANCIAL, INC.  Item
5.  Other Information. RATIOS OF EARNINGS TO
FIXED CHARGES The
following table sets forth the ratios of earnings to fixed charges of Wells
Fargo Financial, Inc. and its subsidiaries for the periods indicated: Three Months Ended
  March 31, 2001

  Years Ended December
  31,2000

  1999

  1998

  1997

  19961.53

  1.58

  1.78

  1.72

  2.00

  2.11 The
ratios of earnings to fixed charges have been computed by dividing net earnings
plus fixed charges and income taxes by fixed charges.  Fixed charges consist of interest and debt expense plus one-third
of rentals (which is deemed representative of the interest factor).  Item 6.  Exhibits and Reports on Form 8-K. (a)  Exhibits: Exhibit (12)

  Computation of ratios
  of earnings to fixed charges for the years ended December 31, 2000, 1999,
  1998, 1997 and 1996 and the three months ended March 31, 2001.  (b)  Reports on 8-K No
reports on Form 8-K were filed during the quarter for which this report is
filed.  S I G N A T U R E S 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 thereunto
duly authorized. WELLS FARGO FINANCIAL, INC.Date:  May 11, 2001By   /s/ 
  Eric TorkelsonEric TorkelsonSenior Vice President and Controller(Principal Accounting Officer)