MARK R. WARNER FINANCE BANKING, HOUSING, AND URBAN AFFAIRS. Wnited States Senate ose WASHINGTON, DC 20610-4606 ivTeLucence ULES AND ADMINISTRATION January 23,2019 Mr. Timothy J. Sloan Chief Executive Officer Wells Fargo 420 Montgomery Street San Francisco, CA 94104 Dear Mr. Sloan: ‘The federal government shutdown is now in its 33rd day, and itis the longest in Ameri history. The effects of the shutdown are hui more ways than I can detail here, but they include putting at risk the affordable housing of 1.4 million Americans, services provided to homeless Americans, transportation projects, and the ability of companies to tap public markets—to name just a few. But the direct and immediate effect of the shutdown is being shouldered by federal workers and contractors. There are over 800,000 federal workers affected by the shutdown, and roughly 420,000 are furloughed or working without pay. These workers have already not received one paycheck, and on Friday will not receive a second. And nearly 10,000 companies—many of them small businesses—who contract with shut-down affected agencies are affected, putting at risk $200 million in revenues per week. The consequences of even a single missed paycheck—let alone two—can be severely devastating. Some federal workers and contractors don’t know how they will put food on the table, pay their electrical bills, or pay their mortgage. I strongly believe that federally connected families should not be penalized financially for a shutdown for which they bear no responsibility. I've read that Wells Fargo has been taking steps to assist these workers and contractors affected by the shutdown, These steps include reversing overdraft and monthly service fees on customers” accounts, offering potential mortgage and loan forbearance and working through payment options to help them avoid the negative consequences of the shutdown. Further, I was pleased to read that Wells Fargo made a charitable contribution towards supporting federal ‘workers facing hardships at this time. Thank you for your proactive efforts to help lessen the burden However, I continue to hear from those affected by the shutdown that they feel like they are without options to address their most pressing financial obligations while they wait for an end to the shutdown. What steps have you taken to publicize the assistance you are offering and how have you sought to ensure that those affected by the shutdown are aware of the assistance? Many banks and credit unions have said that they are monitoring the shutdown and considering whether to increase their assistance as the length of the shutdown extends, On Friday, over800,000 federal employees will have gone a month without pay. Although affected federal employees are, at the very least, assured back pay, many still face trouble making ends meet until paychecks resume, and federal contractors see no relief in sight. The financial pain felt by all of these workers will increase exponentially as the shutdown continues. Do you have any plans to increase the level of assistance to affected federal workers and contractors? Thank you for your attention to this matter of critical importance to me and my constituents. Sincerely, Mo. L Nunes Mark R. Warner United States Senator