Wells Fargo

Wells Fargo is based in San Francisco. Checking accounts, cards, auto loans, wealth clients, and commercial credit are the products, and the branch footprint is what still distinguishes it from online-only banks.

From 2018 until 2025 a Federal Reserve order capped the bank's assets, which limited how far it could grow deposits and loans. That growth restriction has been lifted, while other parts of the 2018 order remain until the bank meets their conditions, so balance-sheet growth is available again inside a still-supervised firm.

Mortgage servicing and origination remain a scale business even after years when the bank was not expanding. Citigroup, Bank of America, JPMorgan, and regional banks compete for the same operating deposits now that Wells Fargo can bid for growth.

Branch deposits are the core funding source, and they are contestable by the other national banks.

Mortgage servicing rights keep a borrower relationship after the loan is made.

Commercial credit relationships are sticky because covenants, treasury services, and the loan renew together.

Households with a Wells Fargo mortgage and a checking account have their primary banking in one file.

Business borrowers who also clear payments at the bank face a conversion project if they change primary banks.