Wells Fargo reviews its account-closing practices

 

Source: Emily Flitter, N.Y.Times ( Paid Registration )

Wells Fargo has begun an “extensive review” of the way it closes customers’ accounts and the fees it charges some customers even after their accounts are supposedly closed, its chief executive, C. Allen Parker, said in a letter to Senator Elizabeth Warren of Massachusetts.

The practice, described in a New York Times article last month, charged customers hundreds or even thousands of dollars in overdraft fees in the weeks after Wells Fargo informed them that it was closing their accounts.

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