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:
- 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.
- 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).