Wells Fargo Supports Customers and Communities During Federal Government Shutdown
January 15 2019 - 3:34PM
Business Wire
Fee reversals and waivers available to impacted Federal
employees; $250,000 of support to United Way Worldwide for local
communities
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.
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version on businesswire.com: https://www.businesswire.com/news/home/20190115005873/en/
Media ContactAnn Wasik,
763-251-0549ann.wasik@wellsfargo.com@AnnWasikWF
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