HomeNewsWells Fargo Will Allegedly Close All Personal Lines of Credit
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Wells Fargo Will Allegedly Close All Personal Lines of Credit

DavisDavis104 CommentsConsumer lending creditCreditWells Fargo
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Wells Fargo is no longer offering the consumer lending product. It is also shutting down all current personal lines of credit.

Customers have been given a 60-day notice that their accounts will no longer exist.

The loans usually gave customers $3,000 to $100,000 in revolving credit lines. It was advertised as a method to consolidate credit cards, use for home repairs, and avoid overdraft fees.

The bank stopped home equity loans over a year ago due to the unknown with the pandemic.

Additionally, the bank ceased giving loans to many of its independent auto dealers last year as a result of the effects of the pandemic.



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