15. LIFE ON LAND

Wells Fargo to scrap bounced check, overdraft protection fees by March 30 – Reuters.com

Written by Amanda

A Wells Fargo logo is seen in New York City, U.S. January 10, 2017. REUTERS/Stephanie Keith/File Photo

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NEW YORK, Jan 11 (Reuters) – Wells Fargo & Co said on Tuesday that it will stop charging customers fees for bouncing checks and will waive fees for customers using its overdraft protection services by March 30, as it becomes the latest bank to announce changes to overdraft policies amid growing regulatory scrutiny.

Wells Fargo will also give customers who overdraw their accounts 24 hours to bring the balance above $0 before charging them a $35 fee, and it will begin giving customers who receive direct deposits access to those funds up to two days in advance.

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Reporting by Elizabeth Dilts Marshall; Editing by Leslie Adler

Our Standards: The Thomson Reuters Trust Principles.

Source: reuters.com

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Amanda

Hi there, I am Amanda and I work as an editor at impactinvesting.ai;  if you are interested in my services, please reach me at amanda.impactinvesting.ai