AGO 10% OF ALL OF OUR
COMPLETED APPLICATIONS WERE
USING THAT IT IS VERY XOO I GO
TO.
>> WHAT ARE YOU DOING TO GET
MILLENNIALS TO TOP GROWTH.
>> PROVIDING THEM WITH RIGHT
PRODUCTS AND SERVICES, THEY
LOVE INNOVATION, ONE OF THE
ONE OF THE NEW SERVICES THAT
WE INTRODUCED A YEAR AGO EMT
BALANCE UPDATES YOU COME TO US
-- REAL-TIME BALANCE UPDATES I
WANT TO KNOW WHEN BALANCE IS
100 DOLLARS WE HAVE THAT
INFORMATION, ABOUT YOU, WE NOW
GIVE IT TO YOU WHENEVER YOU
WHENEVER YOUR BALANCE GETS TO
BE 100 DOLLARS, YOU KNOW HOW
MANY TIMES THAT HAPPENS A
MONTH?
20 MILLION TIMES.
>> WOW.
>> MILLENNIALS LOVE THAT
BECAUSE IT HELP THEM MANAGE
THEIR FINANCES EVEN BETTER.
DAGEN: THEY WANT INFORMATION
AS WELL, LET ME TALK ABOUT
EXPENSES FOR A MOMENT, YOU
HAVE INDICATED, THAT EXPENSES
WILL GO DOWN IN 2019.
>> CORRECT.
DAGEN: ARE YOU EXPECTING,
DOWN OR A BILLION DOLLARS OR
MORE?
>> IT GOOD QUESTION WHAT WE
HAVE COMMITTED TO, IS TO
REDUCE THE RUN RATE OF
EXPENSES, FOR THIS YEAR, BY
TWO BILLION DOLLARS SO THAT IS
FOR 2018 BY END OF THE YEAR,
WE ARE TAKING THAT ENTIRE TWO
BILLION DOLLARS, AND
REINVESTING IT BACK INTO THE
BUSINESS, FOR THE LONG TERM,
AND THEN WE MADE AN ADDITIONAL
TWO BILLION DOLLARS COMMITMENT
FOR 2019 SO BY THE END OF THAT
YEAR ALL THAT WILL FLOW NOT
BOTTOM PIPELINE.
>> MAIN MESSAGE.
>> YOU CAN BET ON WELLS FARGO
AB TERRIFIC HISTORY IN THIS
COMPANY GREET PEOPLE GREAT
PRODUCTS GREAT CUSTOMER BASE,
THERE IS NO QUESTION WE HAVE
CHALLENGES WE HAVE TALKED
ABOUT THOSE WE'VE GOT TO
REBUILD TRUST WITH
STAKEHOLDERS IN TERMS OF
DIRECTION FOR THE COMPANY, I
AM VERY OPTIMISTIC ABOUT THE
FUTURE.
>> WHAT IS IT GOING TO TAKE
FOR YOU TO FEEL LIKE ALL THE
BAD NEWS IS OUT?
AND NOW IN THE REAR VIEW
MIRROR THAT IS WHAT PEOPLE
WANT.
>> TIME, IT IS TIME MARIA
WON'T BE ONE DAY IT IS NOT
LIKE A MAGIC SWITCH IS GOING
TO GET FLIPPED NEXT FRIDAY
ANYTHING LIKE THAT WE ARE
GOING TO LOOK BACK IN REAR
VIEW MIRROR SIX MONTHS FROM
NOW A YEAR FROM NOW SAY YOU
KNOW WHAT WE HAVEN'T WELLS
FARGO ON THE FRONT PAGE OF
PAPER OR YOU HAVE NOT HAD TO
REPORT ON US, STUFF EXCEPT
GREAT EARNINGS.
>> IN TERMS OF -- 401(k)
ANYTHING ELSE PEOPLE CAN WORRY
ABOUT DISCLOSURES ABOUT ANY
OTHER AREAS.
>> AS I MENTIONED WE HAVE
CHANGED OUR LEVEL OF
DISCLOSURE AT THE COMPANY TO
BE VERY, VERY TRANSPARENT IF
THERE IS A CONCERN THAT WE
HAVE WE WILL DISCLOSE IT
NOTHING MORE TO DISCLOSE RIGHT
NOW.
>> WOULD YOU LIKE TO ADD
ANYTHING ELSE I MAY HAVE
MISSED.
>> ONE ANNOUNCEMENT THAT WE
MADE ABOUT A WEEK AGO WAS OUR
COMMITMENT TO THE ENVIRONMENT.
AND WE'VE HAD A VERY FOCUSED
COMMITMENT TO THE ENVIRONMENT
IN TERMS OF OUR CLEAN
TECHNOLOGY IN TERMS OF WELLS
FARGO IS RESPONSIBLE FOR THE
EQUITY ABOUT 9% ALL CREATED IN
2016 LAST YEAR FOR EXAMPLE, WE
GENERATED MORE THAN 100% OF
OUR THE ENERGY WE NEEDED TO
OPERATE THE COMPANY.
THROUGH RENEWABLE RESOURCES,
BUT 10 DAYS AGO WE MADE A
200-BILLION-DOLLAR COMMITMENT
TO CLEAN TECHNOLOGIES
TO CLEAN TECHNOLOGIE
TO CLEAN RECHNOLOGIE
TO CLEAN RENENOLOGIE
TO CLEAN RENEWALOGIE
TO CLEAN RENEWABLGIE
TO CLEAN RENEWABLEIE
TO CLEAN RENEWABLE E
TECHNOLOGIES BY 2030 GOING TO
CONTINUE TO HELP CONSUMERS
TOWARD A HEALTHIER PLANET VERY
PROUD OF THAT.
>> A BIG NUMBER WHY SO
IMPORTANT TO YOU --
>> BECAUSE IT IS IMPORTANT TO
OUR CUSTOMERS AND TEAM
MEMBERS, AND TO THE ECONOMY,
THAT IS -- WE HAVE A BIG
RESPONSIBILITY THIS IS LARGEST
LENDER IN AMERICA WE TAKE THAT
VERY, VERY SERIOUSLY WHEN WE
LOOK AT OPPORTUNITIES TO MAKE
A DIFFERENCE CONSISTENT WITH
VISION AND VALUES,
VISION AND VALUE ,
VISION AND VALUE RE
VISION AND VALUE RENE
VISION AND VALUE RENEWA
VISION AND VALUE RENEWABL
VISION AND VALUE RENEWABLES
VISION AND VALUE RENEWABLES,
CLEAN TECHNOLOGY A BIG
OPPORTUNITY.
>> HOW MUCH OF THE EARNINGS
BUMP THAT YOU ARE SEEING THE
DUE TO TAX CUT PLAN.
>> WELL FOR THIS YEAR IT WILL
BE ABOUT TENNISH PERCENT PLUS
OR MINUS DEPENDS.
>> SO WHAT DO WE DO THAT WITH
THAT REINVESTED INTO COMPANY
SOME GOING TO SHAREHOLDERS
THAT IS THE WAYS WE INCREASED
OUR THE MINIMUM WAGE FOR IF
LOWEST PAID TO MINI15
LOWEST PAID TO MINI1
LOWEST PAID TO MINIMU
LOWEST PAID TO MINIMUM
LOWEST PAID TO MINIMUM 1
LOWEST PAID TO MINIMUM 15
DOLLARS AN HOUR LOOKED AT NEAR
15 DOLLARS AN HOUR INCREASED
WAGES FOR THAT GROUP, FOR
80,000 TEAM MEMBERS WE
INCREASED OUR COMMITMENT TO
GIVING IN THIS COUNTRY WE
INCREASED IT BY 40%, WE ARE
GOING TO INCREASE FROM 2017 TO
2018 TO FOUR HUNDRED MILLION
DOLLARS, SO WE ARE DOING A LOT
OF THINGS WHERE THAT BENEFIT
NOT ONLY TO GROW THE ECONOMY,
BUT TO MAKE A DIFFERENCE IN
THE COMMUNITIES THAT WE DO
BUSINESS IN.
>> HOW DO YOU SEE THE ECONOMY
TODAY.
>> I THINK IT IS GOOD I MEAN I
THINK 2.4% GDP GROWTH WHICH
AGAIN WAS SLOWER THAN FOURTH
QUARTER BUT WHEN YOU XA IRTO
PRIOR FIRST QUARTERS OVER
LASTLY FEW YEARS WAS VERY
STRONG THAT IS WHY THE
PERSONAL INCOME NUMBERS, AND
OVERALL INCOME WERE STRONG
SPENDING WAS STRONG.
CONSUMERS CLEARLY TOOK A
LITTLE BIT OF A TIME OFF IN
JANUARY, FEBRUARY, MARCH SEEMS
TO BE STRONGER SO WE ARE
OPTIMISTIC THAT WE ARE GOING
TO SEE A GDP THIS YEAR THAT IS
ABOVE 3%.