Wells Fargo Confirms Its Shutting Down All Personal Lines of Credit
Wells Fargo said it will no longer be offering personal lines of credit and will shut down down all existing personal lines of credit for customers, according to reports. The move doesn’t appear to affect credit cards. A spokesperson for the banking giant confirmed the development. “As we simplify our product offerings, we made the decision last year to no longer offer personal lines of credit as we feel we can better meet the borrowing needs of our customers through credit card and personal loan products,” a Wells Fargo spokesperson told Fox News and other news outlets. “We realize change can be inconvenient, especially when customer credit may be impacted,” the spokesperson added. “We are providing a 60-day notice period with a series of reminders before closure, and are committed to helping each customer find a credit solution that fits their needs.” The move affects the bank-offered revolving credit lines, …
Originally found on the Epoch Times Read More
