Fee reversals and waivers available to impacted Federal employees; $250,000 of support to United Way Worldwide for local communities
SAN FRANCISCO--(BUSINESS WIRE)--During this historic Federal Government shutdown, Wells Fargo & Company
(NYSE: WFC) is offering relief to impacted customers and community
members. Fee reversals and waivers are available to affected customers
and, today, the company announced a donation of $250,000 to the United
for U.S. Coalition announced
Friday by United Way Worldwide to support those in local communities who
are also impacted.
“Our thoughts are with government employees who are coping with the
reality of their first missed paycheck due to the government shutdown.
Wells Fargo hopes to lessen the financial impact on our affected
customers while also providing individual assistance for their unique
needs,” said Tim Sloan, Wells Fargo CEO and President. “In addition, our
$250,000 donation to seed the creation of the United for U.S. Coalition
will help meet the basic needs of those facing personal hardships at
this time.”
The bank will work with customers whose income is disrupted as a result
of the shutdown. Customers should call the newly-established customer
assistance line at 800-219-9739 to be connected with a team
member who can assist based on their needs or visit any Wells Fargo
branch for assistance. Information is also available on the company’s
website at the government
shutdown assistance page.
Here are some of the ways we are helping impacted consumer lending
customers:
Fees:
-
For customers who are Federal Government employees and affected by the
shutdown, Wells Fargo will automatically reverse their monthly service
or overdraft/non-sufficient fund fees on their deposit account that
had a payroll check direct deposited into that account in November
2018.
-
For those same customers, Wells Fargo also will automatically reverse
and waive late fees on their credit accounts, including consumer and
small business credit cards, auto loans, personal lines and loans,
student loans, small business loans, home equity and home mortgages.
-
In addition, impacted customers who don’t have direct deposit or are
not included in our automated process are encouraged to contact Wells
Fargo for assistance.
Payment Options:
-
Because every situation is different, Wells Fargo is assessing the
individual needs of customers who are employed by the Federal
Government and impacted by the shutdown, and working with them on a
solution. The company offers options on all loan types to help these
customers avoid the negative consequences of missing a payment, such
as late fees, negative credit reporting, auto repossession and
foreclosure.
-
For those same customers who are having difficulties making Wells
Fargo credit and/or loan payments due to the shutdown, the company
will work with them to identify short- or long-term assistance options
that may be available.
-
For mortgage and home equity customers who are impacted and contact
the company to discuss payment options, Wells Fargo will not apply
late charges or report negative credit implications for up to 90 days.
Applicable foreclosure activities will be placed on hold (subject to
court approval).
About Wells Fargo
Wells Fargo & Company (NYSE: WFC) is a diversified, community-based
financial services company with $1.9 trillion in assets. Wells Fargo’s
vision is to satisfy our customers’ financial needs and help them
succeed financially. Founded in 1852 and headquartered in San Francisco,
Wells Fargo provides banking, investment and mortgage products and
services, as well as consumer and commercial finance, through 7,800
locations, 13,000 ATMs, the internet (wellsfargo.com) and mobile
banking, and has offices in 37 countries and territories to support
customers who conduct business in the global economy. With approximately
259,000 team members, Wells Fargo serves one in three households in the
United States. Wells Fargo & Company was ranked No. 26 on Fortune’s 2018
rankings of America’s largest corporations. News, insights and
perspectives from Wells Fargo are also available at Wells
Fargo Stories.