"Wells Fargo's privacy practices score a 66, indicating a high level of risk due to extensive data collection and sharing with third parties for advertising purposes. The vague data retention policy further exacerbates these risks."
Wells Fargo Privacy Concerns & Scorecard
Wells Fargo shares personal information with third-party providers for targeted advertising, which increases the risk of data exposure.
The data retention policy is vague, which can lead to indefinite data retention without user consent.
Wells Fargo collects personal information and browsing behavior, which includes sensitive data types.
Wells Fargo uses cookies for tracking browsing behavior and allows users to opt-out, but this tracking can still pose risks.
Users can opt-out of data sharing, but the lack of clarity on data retention and deletion limits user control.
No recommended actions at this time.
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Terms of Service Updates
Privacy Notice Scope Changed to Optional
The OLD version stated privacy policies 'including' specific notices; the NEW version says 'potentially including but not limited to' these notices. This language weakens the guarantee that the referenced privacy notices will apply, allowing Wells Fargo to operate under different or additional privacy policies without explicitly listing them.
Effective: September 15, 2026
Data Sharing Conditioned on 'Applicable Law'
The OLD version stated Wells Fargo 'may collect and retain personal or other information...and share with our service providers' without conditions. The NEW version adds 'as allowed by applicable law and our privacy notices,' potentially limiting user protections by making data sharing contingent on legal interpretation rather than being a standalone commitment.
Effective: September 15, 2026
Third-Party Analytics Tools Added
The OLD version referenced only Wells Fargo's use of analytics tools. The NEW version explicitly adds 'including tools provided by third party service providers' for collecting user interactions. This expands data collection beyond Wells Fargo's direct control to unnamed third parties.
Effective: September 15, 2026
Why We Analyzed Wells Fargo
TrueTerms automatically audits privacy policies and data practices using advanced machine learning to keep you informed and protected. This scorecard is based on the latest available public terms of service and privacy policies as of 2026.