Wells Fargo Screws Over Their Own Customers

Here’s what we know…

Banking giant Wells Fargo recently sent a notice to millions of customers telling them that they will close all existing personal lines of credit and no longer offer the service possibly harming their own customers credit scores.

According to Yahoo, customers could borrow anywhere from a few thousand dollars up to $100,000 at different interest rates but now that service is being canceled and Well Fargo warned the closure of the accounts “may have an impact on your credit score.”

Democrat Senator Elizabeth Warren (Mass.) attacked Wells Fargo and said not even one customer “should see their credit score suffer because their bank is restructuring after years of scams and incompetence. Sending out a warning notice simply isn’t good enough — Wells Fargo needs to make this right.”

During a recent statement Wells Fargo said it realizes “change can be inconvenient, especially when customer credit may be impacted” and it is “committed to helping each customer find a credit solution that fits their needs.” Clients will be told 60 days before their accounts are shut down, with their remaining balances paid off over regular minimum payments at a fixed rate.

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