Wells Fargo
Wells Fargo is one of the four largest U.S. banks by assets, offering consumer and commercial banking, mortgage lending, credit cards, and investment services through approximately 4,500 branches nationwide. The bank serves roughly one in three U.S. households and holds over $1.4 trillion in deposits.
Score generated by AI agents based on publicly cited evidence and reviewed by the project maintainer. Not independently validated.
Score History
Timeline events are AI-curated from public reporting. Score trajectory is derived from documented events.
The 1998 merger with Norwest Corporation imports Richard Kovacevich's aggressive cross-selling philosophy to Wells Fargo, establishing the 'Going for Gr-Eight' goal of 8 products per household. The combined bank has $191 billion in assets and 20 million customers. Lock-in is already elevated due to the structural switching costs inherent in U.S. banking, but other extraction vectors remain moderate as the cross-sell machine is still ramping up.
Unrealistic cross-sell quotas metastasize into systemic fraud as employees begin opening unauthorized accounts to avoid termination. Wells Fargo's 'Courageous Underwriting' subprime campaign ramps production of high-risk mortgages while discriminatory steering channels minority borrowers into costlier products. Transaction reordering maximizes overdraft fee extraction. Management is aware of misconduct by 2002 but prioritizes the cross-sell metric.
Wells Fargo acquires the failing Wachovia Corporation for $15.1 billion and accepts $25 billion in TARP funds, becoming a coast-to-coast megabank with $1.4 trillion in assets. The Wachovia acquisition absorbs $378 billion in unmonitored drug cartel transactions. The 'too big to fail' subsidy now lowers borrowing costs relative to smaller competitors. Fake account creation continues unchecked, and forced auto insurance practices begin at scale.
Cross-sell ratios peak at 5.5+ products per household as the bank touts the metric to investors despite knowing it is inflated by unauthorized accounts. The force-placed auto insurance scheme affects 800,000+ customers, causing 25,000 wrongful vehicle repossessions. The DOJ's $175 million discriminatory lending settlement reveals systemic racial steering. Extraction mechanisms are operating at full capacity but remain largely hidden from public scrutiny.
The CFPB's $185 million fine for 1.5 million unauthorized accounts explodes into a national scandal. CEO Stumpf is grilled in Senate hearings and forced to resign with $130 million in compensation. The Federal Reserve imposes an unprecedented asset cap. The 50-state AG settlement reveals 3.5 million fake accounts — far more than initially disclosed. The scale of fraud — 5,300 employees fired for misconduct over years while executives profited — represents a governance catastrophe.
New CEO Charlie Scharf launches a $10 billion expense reduction plan, cutting over 40,000 jobs while increasing his own compensation from $29 million to $40 million. The DOJ and SEC impose a $3 billion settlement. The CFPB's landmark $3.7 billion order reveals 16 million affected accounts. Shareholder returns accelerate — $25 billion in 2024 alone — while tellers earn $36,000-$38,000. Branch closures run 200-300 per year, disproportionately affecting low-income communities.
The Federal Reserve lifts the seven-year asset cap in June 2025, and all 14 consent orders are resolved. But the underlying extraction model persists: 0.01% savings rates vs. 5%+ Fed funds rate, $1 billion in annual overdraft fees, $35-per-item charges up to three times daily. Congress overturns the CFPB's overdraft cap rule. Union organizing intensifies as CWA files 33 unfair labor practice charges, while the NLRB finds merit in retaliation allegations. Sales pressure returns according to employee surveys.
Alternatives
Online bank with no monthly fees, no minimum balance, and high-yield savings rates dramatically higher than Wells Fargo's 0.01% APY. Moderate switch — you'll need to set up direct deposit and update autopay links, which takes a few weeks. No physical branches, but customer service is strong and ATM fee reimbursement is included. FDIC-insured.
360 Checking has no monthly fees and no minimums; 360 Performance Savings offers substantially better rates than Wells Fargo's standard accounts. Has physical Capital One Cafes for in-person help if you need it. Moderate switch — same autopay migration process as any bank change. Still a large bank with its own issues (scored separately), but meaningfully better on fees and rates for everyday users.
Dimensional Breakdown
Summaries below were written by AI agents based on the cited evidence. They are editorial interpretations, not independent research findings.
Dimension History
Timeline (54 events)
Wells Fargo Settles Credit Card Rate-Fixing Lawsuit for $43 Million
Wells Fargo agrees to pay $43 million to settle a class action lawsuit alleging that it conspired with other banks to fix interest rates on millions of credit card accounts. The settlement is one of the largest consumer banking antitrust cases of the early 1990s and establishes a pattern of prioritizing revenue extraction through opaque pricing practices.
Hostile Takeover of First Interstate Triggers Customer Exodus
Wells Fargo completes its hostile $11.6 billion acquisition of First Interstate Bancorp, creating the eighth-largest U.S. bank. The integration proves disastrous: computer system glitches lose customer deposits and bounce checks, 350 California branches close, and 7,200 employees (16% of the combined workforce) are laid off. Customer service collapses as angry complaints go unanswered at understaffed branches and phone centers, triggering a mass exodus of customers. The bank targets $800 million in annual cost savings.
Norwest Corporation Pioneers Revenue-Per-Customer Banking Model
Before the 1998 merger, Norwest Corporation under CEO Richard Kovacevich develops the 'stores not banks' retail model that will define Wells Fargo's future. Norwest's Minneapolis-based culture treats every customer interaction as a sales opportunity, achieving a cross-sell ratio of 3.8 products per household — far above industry averages. Kovacevich's model explicitly aims to extract maximum revenue per relationship through bundling checking, savings, credit cards, mortgages, and insurance products.
Norwest Merger Imports Cross-Sell Culture
Wells Fargo completes its $34 billion merger with Norwest Corporation, adopting Norwest CEO Richard Kovacevich's aggressive cross-selling philosophy. Norwest's model treated branches as 'stores' and bankers as 'salespeople,' with a cross-sell ratio of 3.8 products per household. Kovacevich sets the 'Going for Gr-Eight' goal of 8 products per customer.
DOJ Requires Divestitures in First Security Merger for Antitrust
The Justice Department requires Wells Fargo to sell 37 branch offices with approximately $1.4 billion in deposits across New Mexico, Nevada, Utah, and Idaho to resolve antitrust concerns in its $3 billion acquisition of First Security Corporation. The merger makes Wells Fargo the largest banking franchise by deposits in four western states and the largest in the West overall, further concentrating market power.
Fee Increases and Account Consolidation Erode Depositor Value
Following the Norwest merger and First Security acquisition, Wells Fargo consolidates account structures and raises maintenance fees across its expanded footprint. Monthly service charges of $5-$10 apply to basic accounts with waiver thresholds that exclude lower-income customers. The merged bank's pricing strategy reflects Kovacevich's revenue-per-customer philosophy, increasing fee income while reducing free checking options inherited from acquired banks.
Fake Account Creation Begins Under Quota Pressure
Wells Fargo employees begin opening unauthorized accounts to meet aggressive cross-sell quotas. The bank's board and executives are later found to have known of issues as early as 2002. Employees face termination threats for missing sales targets, creating a systemic incentive for fraud that would persist for 14 years.
Wells Fargo Dominates Mortgage Market with 35% Share
Wells Fargo's retail mortgage market share peaks at approximately 35% in 2004, making it by far the dominant U.S. mortgage originator. Together with Bank of America, Wells Fargo consistently originates 45-50% of total mortgage volume. This dominance generates massive non-interest income through origination fees, servicing revenue, and cross-sell opportunities as mortgage customers are channeled into checking, savings, and investment products.
Cross-Sell Bundling Deepens Customer Lock-In Across Product Lines
Wells Fargo's cross-sell ratio climbs above 5.0 products per household as the bank aggressively bundles checking, savings, credit cards, mortgages, home equity lines, and investment accounts. Relationship pricing rewards customers who hold multiple products while penalizing those who unbundle. With the average customer now tied to 5+ automated payment relationships across multiple products, switching to a competitor requires months of painstaking account migration.
Transaction Reordering Maximizes Overdraft Fees
Wells Fargo processes debit card transactions from largest to smallest rather than chronologically, deliberately drawing down account balances faster to trigger more overdraft fees. The practice, applied to California customers from November 2004 through June 2008, generates hundreds of millions in additional overdraft revenue.
Subprime Mortgage Lending Ramps Under 'Courageous Underwriting'
Wells Fargo launches its 'Courageous Underwriting' campaign to double subprime and Alt-A loan production between 2005 and 2006. The bank approves loans for borrowers it knows have overstated income, selling at least 73,539 stated-income loans between 2005 and 2007, half of which later default.
Discriminatory Mortgage Steering Documented
Between 2004 and 2009, Wells Fargo steers approximately 4,000 African-American and Hispanic borrowers into costly subprime mortgages while offering prime-rate loans to white borrowers with similar credit profiles. A Black borrower in Chicago pays on average $2,937 more than a white applicant with equivalent qualifications.
Wells Fargo Acquires Wachovia for $15.1 Billion
Wells Fargo acquires the failing Wachovia Corporation during the financial crisis, creating a coast-to-coast bank with $1.4 trillion in assets and 48 million customers. The acquisition absorbs Wachovia's legacy money laundering problems — Wachovia had failed to monitor $378 billion in transactions linked to Mexican drug cartels.
Wells Fargo Receives $25 Billion TARP Bailout
Wells Fargo accepts $25 billion from the Troubled Asset Relief Program as part of the government's bank stabilization effort. The bank repays the full amount in December 2009 after raising $12.25 billion through a stock offering, having paid $1.44 billion in dividends to the government during the bailout period.
Wachovia Settles Drug Cartel Money Laundering for $160 Million
Wachovia, now owned by Wells Fargo, pays $160 million in a deferred prosecution agreement for failing to apply anti-money laundering controls to $378.4 billion in transactions from Mexican casas de cambio linked to the Sinaloa cartel between 2004 and 2007. The fine represents less than 2% of the combined entity's 2009 profits.
Whistleblower Fired After Reporting Fraudulent Account Openings
A Wells Fargo employee is terminated after calling the bank's internal ethics hotline to report suspected fraudulent account openings in her branch. OSHA later orders Wells Fargo to pay $5.4 million in back pay, damages, and legal fees. Between 2010 and 2014, at least five employees file lawsuits or Labor Department complaints over retaliation for reporting sales misconduct, establishing that the bank systematically punished internal dissent while the fake accounts scheme continued unabated.
Court Orders $203 Million Restitution for Transaction Reordering
U.S. District Judge William Alsup issues a 90-page ruling in Gutierrez v. Wells Fargo, finding the bank manipulated debit card transaction processing to maximize overdraft fees in violation of California law. Wells Fargo is ordered to pay $203 million in restitution to affected customers. The judgment survives multiple appeals and becomes final in 2016.
Cross-Sell Metric Publicly Touted to Investors Despite Inflation
Wells Fargo begins publicly highlighting its Community Bank cross-sell ratio to investors as a key performance metric, characterizing it as evidence of strategic success. The SEC later finds that from 2012 to 2016, the metric was inflated by millions of unauthorized, unused, and unneeded accounts — misleading investors about the bank's largest business unit.
Wells Fargo Exits Wholesale Mortgage Lending
Wells Fargo exits its wholesale mortgage lending channel, which provided loans through mortgage broker partners. The move consolidates the bank's direct lending model, reducing competition from independent brokers and funneling mortgage borrowers through Wells Fargo's own retail branch network.
DOJ Orders $175 Million Settlement for Discriminatory Lending
The Department of Justice announces a $175 million settlement — the second-largest fair lending settlement in DOJ history — for Wells Fargo's pattern of steering African-American and Hispanic borrowers into subprime mortgages from 2004 to 2009. The settlement includes $125 million in borrower compensation and $50 million in down payment assistance.
Force-Placed Auto Insurance Scheme Begins at Scale
Wells Fargo begins systematically force-placing auto insurance on borrowers who already had their own coverage, charging them for unneeded policies between 2012 and 2017. An internal investigation later reveals more than 800,000 customers were affected, with approximately 25,000 having their vehicles wrongfully repossessed as a direct result of the added insurance costs.
Los Angeles Times Exposes Sales Quota Abuse and Mass Terminations
An investigative report in the Los Angeles Times reveals that Wells Fargo branch employees are opening unauthorized accounts under intense quota pressure. Employees describe being ranked on daily scorecards and threatened with termination for missing aggressive targets that were raised nearly every year. The exposé documents employees who were fired after calling the ethics hotline, with FLSA lawsuits numbering 111 between 2008 and 2011 alone. Despite the reporting, the bank's quota system continues for three more years.
Wealth Management Pressures Advisors into High-Fee Cross-Selling
Wells Fargo's Wealth and Investment Management division introduces 'Client Discovery Reviews' as mandatory criteria for advisor bonuses, requiring advisors to identify opportunities for additional products whether clients need them or not. Advisors are pressured to push high-fee financial planning services, mortgages, and brokerage products on wealth management clients. The division achieves over 10 products per retail banking household, and compensation structures penalize advisors who fail to cross-sell.
Wells Fargo Pays $1.2 Billion for Pre-Crisis Mortgage Fraud
Wells Fargo agrees to pay $1.2 billion to resolve claims that it made improper mortgage lending certifications to the Department of Housing and Urban Development between 2001 and 2008, including failing to report thousands of problematic FHA-insured loans. The bank had reported only 300 defective loans while internally identifying 2,900.
CFPB Fines Wells Fargo $185 Million for Fake Accounts
The CFPB, OCC, and City of Los Angeles fine Wells Fargo a combined $185 million after the bank admits employees opened approximately 1.5 million unauthorized deposit accounts and 565,000 unauthorized credit card accounts. The bank discloses it fired approximately 5,300 employees for sales misconduct. The scandal triggers national outrage.
CEO Stumpf Grilled in Senate Hearing on Fake Accounts
CEO John Stumpf testifies before the Senate Banking Committee, where Senator Elizabeth Warren tells him he should resign and be criminally investigated. Stumpf apologizes but deflects blame onto lower-level employees. A second hearing before the House Financial Services Committee follows on September 29. Stumpf agrees to forfeit $41 million in unvested stock options.
CEO John Stumpf Resigns Under Pressure
John Stumpf resigns as chairman and CEO of Wells Fargo after sustained public, congressional, and regulatory pressure over the fake accounts scandal. Despite claims of 'retirement,' the resignation is widely understood as forced. Stumpf departs with over $130 million in accumulated compensation. Tim Sloan, the bank's COO, is named CEO.
Overdraft Revenue Surges 7.5% Even as Scandal Unfolds
Wells Fargo's overdraft fee income grows 7.5% in Q3 2016 — five times faster than competitors — even as the fake accounts scandal dominates headlines. The bank generated $1.8 billion in overdraft fees in 2016, second only to JPMorgan Chase. Senator Mark Warner formally questions the bank about its overdraft fee practices. The overdraft revenue surge demonstrates that core fee extraction mechanisms operate independently of the scandals generating public attention.
Board Claws Back $75 Million from Stumpf and Tolstedt
Wells Fargo's board claws back an additional $75 million from former CEO Stumpf ($28 million) and former Community Banking head Carrie Tolstedt ($47 million), bringing Tolstedt's total clawback to $67 million. The board's independent investigation finds an 'aggressive sales culture' that 'tolerated bad behavior' while executives collected hundreds of millions in compensation.
Mortgage Rate Lock Extension Fee Scheme Disclosed
Wells Fargo reveals it improperly charged prospective home loan borrowers fees for extending the period for a mortgage interest rate lock between 2013 and 2017. The bank profited by delaying its own processing while passing lock extension costs to borrowers, adding hundreds or thousands of dollars in unexpected fees to mortgage closings. The practice combined fee extraction with opaque algorithmic pricing, as borrowers had no visibility into internal processing timelines.
Force-Placed Auto Insurance Scandal Becomes Public
Wells Fargo discloses it wrongfully charged approximately 570,000 auto loan customers for insurance they did not need between 2012 and 2017. Up to 20,000 customers may have defaulted on their car loans and had vehicles repossessed as a result. An internal review later expands the number to over 800,000 affected customers.
Federal Reserve Imposes Unprecedented $1.95 Trillion Asset Cap
The Federal Reserve imposes an unprecedented growth restriction on Wells Fargo, capping total assets at $1.95 trillion until the bank demonstrates improved governance and controls. It is the first time the Fed has directly ordered a bank to stop growing. The cap remains in effect for over seven years, constraining the bank's competitive position.
OCC and CFPB Impose $1 Billion Fine for Auto and Mortgage Abuses
Wells Fargo agrees to a $1 billion settlement with the CFPB and OCC to resolve investigations into auto loan insurance and mortgage lending abuses. The OCC takes the unusual step of restricting the bank's ability to engage in certain business activities until it demonstrates compliance improvements.
DOJ Fines Wells Fargo $2.09 Billion for Subprime Mortgage Fraud
Wells Fargo pays $2.09 billion to resolve DOJ allegations that it misrepresented the quality of residential mortgage loans sold to investors between 2005 and 2007. The bank knowingly approved loans for borrowers who overstated income under its 'Courageous Underwriting' program, contributing to the 2008 financial crisis.
50-State Attorney General Settlement for $575 Million
Wells Fargo pays $575 million to settle investigations by attorneys general from all 50 states and the District of Columbia over the fake accounts scandal. The investigation reveals 3.5 million unauthorized accounts, 528,000 improper online bill pay enrollments, and over 6,500 unauthorized insurance policy applications. It is the largest state-level bank enforcement without a federal partner.
CEO Tim Sloan Resigns After Failing to Reform Bank
Tim Sloan abruptly resigns as CEO after spending over two years unable to convince regulators and lawmakers that Wells Fargo had reformed. As the bank's former COO who oversaw the community banking division at the heart of the fake accounts scandal, Sloan was seen as an insider unable to drive meaningful change. He later sues the bank for $34 million in withheld compensation.
Charlie Scharf Named CEO, Begins Mass Layoff Campaign
JPMorgan Chase executive Charles Scharf becomes Wells Fargo's third CEO in three years. He launches a $10 billion expense reduction plan that will ultimately cut over 40,000 jobs — from 268,500 employees in 2020 to approximately 210,000 by 2025 — while simultaneously receiving compensation that rises from $29 million to $40 million annually.
OCC Bans Stumpf from Banking, Fines Executives $21 Million
The OCC permanently bans former CEO John Stumpf from the banking industry and fines him $17.5 million. Former Chief Administrative Officer Hope Hardison is fined $2.25 million and former Chief Risk Officer Michael Loughlin $1.25 million. Charges against five additional former executives follow for their roles in systemic sales misconduct from 2002 to 2016.
DOJ and SEC Impose $3 Billion Settlement for Fake Accounts
Wells Fargo agrees to pay $3 billion to resolve criminal and civil investigations by the DOJ and SEC into the fake accounts scandal. The settlement includes a deferred prosecution agreement with the DOJ and a $500 million SEC penalty for misleading investors about the success of the bank's Community Banking cross-sell strategy from 2012 to 2016.
Wells Fargo Leads Industry in Branch Closures
Wells Fargo closes 267 branches in 2021, leading all U.S. banks. One-third of bank branch closures between 2017 and 2021 disproportionately affect lower-income and majority-minority communities, contributing to the growth of banking deserts. The closures continue under Scharf's expense reduction plan at a pace of 200-300 branches annually.
OCC Fines Wells Fargo $250 Million for Mortgage Servicing Failures
The OCC assesses a $250 million civil money penalty for unsafe practices in Wells Fargo's home lending loss mitigation program. A calculation error incorrectly denied loan modifications to 870 borrowers, resulting in 545 losing their homes to foreclosure. The OCC also bars the bank from using third-party mortgage servicers.
CFPB Orders Record $3.7 Billion for Widespread Consumer Abuses
The CFPB orders Wells Fargo to pay $3.7 billion — including a record $1.7 billion fine — for widespread mismanagement of auto loans, mortgages, and deposit accounts. The order documents illegal surprise overdraft fees ($205 million), wrongful auto repossessions, frozen accounts via a faulty automated filter affecting over 1 million consumers, and misapplied mortgage payments. The total harm spans over 16 million consumer accounts.
Wells Fargo Exits Correspondent Lending, Retreats from Mortgages
Wells Fargo exits its correspondent lending business and significantly shrinks its mortgage servicing portfolio, retreating from a market it led as recently as 2019 with $201.8 billion in origination volume. CEO Scharf declares the home lending business 'too large' relative to returns. The retreat eliminates a consumer service channel while reducing the bank's regulatory exposure.
Former Executive Tolstedt Avoids Prison for Fake Accounts
Former Community Banking head Carrie Tolstedt is sentenced to three years' probation after pleading guilty to obstructing regulators' investigation of the fake accounts scandal. Despite overseeing the division where 3.5 million unauthorized accounts were created, Tolstedt avoids prison time. She pays a $17 million OCC fine and is permanently banned from banking.
Insider Data Breach Exposes 10,000 Customer Accounts
Wells Fargo discloses that a former employee accessed sensitive customer records without authorization from May 2022 through March 2023. The breach compromises approximately 10,000 customer accounts, exposing bank account details and driver's license information. The bank offers two years of free identity protection through Experian and faces class action lawsuits.
Wells Fargo Hires Anti-Union Specialist to Combat CWA Organizing
Wells Fargo creates a new position within its human resources department to oversee anti-union efforts and hires Stan Sherrill, who spent nine years at the anti-union law firm Littler Mendelson. Sherrill is later discovered secretly monitoring bargaining sessions via virtual meeting software, prompting an unfair labor practice charge.
OCC Issues New Enforcement Action for AML Deficiencies
The OCC enters a formal agreement with Wells Fargo over deficiencies in its anti-money laundering and financial crimes risk management programs, including violations related to suspicious activity reporting, customer due diligence, and OFAC sanctions compliance. The agreement restricts the bank from expanding into new products or geographic markets with medium or high BSA/AML risk.
Eleven Workers Laid Off One Week Before Union Election
Wells Fargo lays off eleven workers at a branch one week before a scheduled union election vote, six of whom are vocal union supporters. The Communications Workers of America files unfair labor practice charges alleging the layoffs targeted union organizing. CWA has won 29 out of 32 elections it has filed for at Wells Fargo locations.
NLRB Issues Complaint for Illegal Union Retaliation
The National Labor Relations Board issues a formal complaint finding merit in allegations that Wells Fargo illegally threatened and retaliated against workers at its Atwater branch before a union election. CWA has now filed 33 unfair labor practice charges against Wells Fargo at 26 locations nationwide.
Congress Overturns CFPB Overdraft Fee Cap, Preserving $1B Revenue
Congress uses the Congressional Review Act to overturn the CFPB's rule that would have capped overdraft fees at $5 per transaction. Wells Fargo and JPMorgan Chase, which each collected approximately $1 billion in overdraft fees in 2024, are the largest beneficiaries. The bank and industry allies spent millions lobbying to prevent the rule from taking effect.
Sales Pressure Returns According to Employee Survey
The Committee for Better Banks publishes a report documenting the return of sales pressure at Wells Fargo, with employees reporting that lower-volume branches are flagged for potential closure, creating incentives for aggressive cross-selling reminiscent of the pre-scandal era. Workers describe being silenced when raising concerns about customer treatment and staffing levels.
Federal Reserve Lifts Asset Cap After Seven Years
The Federal Reserve removes the $1.95 trillion asset growth restriction imposed in 2018, finding Wells Fargo has met all conditions including board effectiveness improvements and enhanced compliance programs. All 14 consent orders have now been resolved. The lifting frees the bank to pursue growth but also removes a constraint that had limited its competitive impact.
OCC Fines Three More Former Executives $18.5 Million
The OCC fines three additional former Wells Fargo executives a combined $18.5 million over their roles in the fake accounts scandal, nearly a decade after the misconduct was first publicly exposed. The prolonged enforcement timeline — with executive accountability still being pursued in 2025 for actions from 2002-2016 — underscores the extraordinary scale of the governance failure.
CEO Pay Reaches $40 Million as Pay Ratio Hits 378:1
Wells Fargo awards CEO Charlie Scharf $40 million in total compensation for 2025, a 28% increase from $31.2 million the prior year, bringing the CEO-to-median-employee pay ratio to 378:1. The pay increase coincides with over 40,000 cumulative job cuts since Scharf took over in 2019 and ongoing union-busting campaigns against CWA organizing efforts.
Evidence (38 citations)
D1: User Value Erosion
D2: Business Customer Exploitation
D3: Shareholder Extraction
D4: Lock-in & Switching Costs
D5: Twiddling & Algorithmic Opacity
D6: Dark Patterns
D7: Advertising & Monetization Pressure
D8: Competitive Conduct
D9: Labor & Governance
D10: Regulatory & Legal Posture
Scoring Log (4 entries)
Fixed D2: overdraft fee comparison was misleading — JPMorgan Chase also collected ~$1B, tied with Wells Fargo. 'Four times' applies to third-largest bank, not next largest. Added missing source field to history entry.