Charles Peabody: Good morning. Most of my questions were already asked and answered, but just I want to follow-up on the consent order issues. If I call correctly and please correct me if I’m wrong, there’s six consent orders remaining and three of them, if I remember, deals somewhat with the mortgage banking operation. And I know starting last fall, you started the planning effort to simplify and downsize that and you’ve been executing on that this year. Can you give us a sense of what it is you need to do in mortgage banking related to those consent orders?
Mike Santomassimo: Yeah, sure. It’s Mike. So first of all, there are nine public consent orders out there that are all there. So you can see those. When you look at the mortgage ones, I think that each of the consent orders is actually quite clear in terms of what needs to happen to satisfy those. So I would just point you back to the documents themselves, which can give you a pretty good sense of what it is and each one is a little bit different.
Charles Peabody: Follow-up, and do you talk to the regulators about the progress you’re making in mortgage banking on a monthly basis, quarterly basis, semi-annual or do you present something at the end? How does the interaction with the regulators go?
Mike Santomassimo: We talk to our regulators all the time, at all parts of the company, at all levels of the company. And so you should assume we’re actively engaged consistently with our regulators all the time.
Charlie Scharf: But the only thing I would add to that is, but again, they’re here, they’re on-site, we talk to them literally all the time.
Charles Peabody: Right. No, I understand that, but specifically related to the progress you’re making…
Charlie Scharf: Just give me a second. We talk to them about everything. And given the importance of the consent orders, you can assume it’s about the work that’s going on in the underlying consent order. But having said all of that, what matters is the work that they do at the end of the consent order after we submit it to them. And so they can be up to speed on what we’re doing. They can know how we feel about the progress that we’re making. But when we submit a consent order to them, they come in and do their holistic review. And so that’s really where their determination is made about whether or not it’s done to their satisfaction. So again, that just gets to the reason why I want to be very careful about not drawing any conclusions from our view on our work or any interim comments we might get from them. What really matters is the holistic review that they do and the process that they go through internally in the regulatory organizations.
Charles Peabody: So that was part of my first question is have you submitted anything yet on mortgage banking?
Charlie Scharf: We’re not going to talk about that. I said that over and over and over again.
Charles Peabody: All right. Thank you.
Charlie Scharf: Thank you very much everyone. We appreciate the time and we’ll talk to you all soon.
Operator: Thank you all for your participation on today’s conference call. At this time, all parties may disconnect.
