Position Statement of Well's Fargo Bank Regarding Their Relationship with the BSA

'dan.porter@financial.wellsfargo.com'
Subject: Boy Scouts

I know that a number of you have received questions about our position on the Boy Scout funding issues from both team members and customers. Following is a statement of our policy which you can rely upon to answer these questions. In addition, those of you who are in the field should be sure this position is understood by your marketplace managers so that they may follow the corporate values in making their local contribution decisions.

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Recent news reports about the Boy Scouts position on gay members have raised questions concerning Wells Fargo's policy on contributions to the Boy Scouts and activities sponsored by the Boy Scouts.

In this, as in all aspects of our business, we must be guided by our values. We do not agree with the Boy Scouts' position on excluding individuals who are gay. It is clearly contrary to our diversity values. Our commitment to diversity is strong, it's real and it's a core value. We strive to create an inclusive culture that understands and values the diversity of all our team members, customers, suppliers and markets.

At the same time, we believe the Scouts do much good work, especially their service programs that benefit thousands of communities where we do business. We also know that many of you are active in Scouting at the local level. Many of you also have leadership positions in the Boy Scouts. We support team members who chose to volunteer their personal time and resources to scouting activities. Team Members who wish to support the Boy Scouts can of course continue to do so by designating their donations through the Community Support and United Way Campaigns.

Our company's values and our long-standing opposition to discrimination will continue to guide all local decision-making by our company. In the case of the Boy Scouts, the company itself will support only those Scout-sponsored programs at the local level that are open to every one, regardless of race, creed, physical abilities, sexual orientation or any other perceived differences. We will provide our local market managers with information about which Scout programs we understand to be inclusive.

We believe this decision is right for Wells Fargo. It is consistent with our commitment to diversity and it gives our local market managers and their teams the opportunity to support valuable programs that the Boy Scouts and other organizations offer which deliver a real benefit to the communities in which we live and do business.