“In our auto business, we announced a multiyear co-branded agreement where we will be the preferred purchase finance provider for Volkswagen and Audi brands in the United States, starting in the first half of this year.”

In context

“l successfully complete the work required in our consent orders and embed in operational risk and compliance mindset into our culture. Our results also show our progress on the other strategic priorities that we have. Improving our credit card platform is an important strategic objective and our progress here is clear. Since 2021, we have rolled out a total of 11 new cars, including four new consumer cards and a new small business card in 2024. Our new product offerings continue to be well received by both existing customers and customers new to Wells Fargo with over 2.4 million new credit card accounts opened in 2024. We've done this while maintaining our credit standards. The momentum in this business is also demonstrated by strong credit card spend, up over $17 billion from a year ago. In our auto business, we announced a multiyear co-branded agreement where we will be the preferred purchase finance provider for Volkswagen and Audi brands in the United States, starting in the first half of this year. We continue to reposition our home lending business as we execute on the strategic direction we announced in early 2023. We've reduced head count by 47% and the amount of third-party mortgage loan service by 28% since the announcement as we continue to streamline this business. The business is more profitable today and opportunities remain to improve. After several years of little to no growth, as we focused on satisfying the requirements of our consent orders, we are starting to generate growth and increase customer engagement in our consumer, small and business banking segment. We had a more meaningful growth in net checking accounts in 2024. And importantly, most of that growth came in the form of more valuable primary checking accounts. We had over 10 billion debit card transactions l”