Wells Fargo&Co. continues to generate relatively solid earnings and maintain decent customer flows despite persistent reputational issues and elevated legal risks. Governance, compliance, and control deficiencies have surfaced in several other business areas since the bank disclosed its improper retail banking practices, but the company is addressing these issues using a multifaceted plan. We are affirming our 'A-/A-2' long- and short–term issuer credit ratings on Wells Fargo&Co., and we are also affirming our 'A+/A-1' ratings on the bank's core operating subsidiaries Our outlook remains stable, assuming that the company will meet the requirements of the February 2018 regulatory consent order that imposes an asset cap, while maintaining leading market shares in its major businesses, as well
