Wells Fargo Reverses Credit Product Fees for Tornado Victims in Texas

Friday, November 15th, 2019
Updated: November 15th, 2019
The content is accurate at the time of publication and is subject to change.

On October 20, 2019, 9 powerful tornadoes swept through North Texas. Although, fortunately, they brought no casualties, many homes and public buildings, including schools, stores, and business centers, were damaged or even completely destroyed. More than 90,000 local residents were left without electricity. The damage is estimated at about $2 billion.

To aid individuals and educational institutions affected, Wells Fargo donated $100,000: $50,000 to the American Red Cross and $50,000 more to the Dallas Education Foundation. In addition, the bank decided to support its account credit holders with saving them from some kinds of fees like late fees.

“We are committed to assist our communities, our customers in times of need as we work together to help our city move forward,” Ruth Villalonga, Vice President, Corporate Communications at Wells Fargo in DFW, South Texas & El Paso, commented on the situation. “We are reversing certain fees including late fees for lending products including credit cards, personal loans and line of credit. “

The customers who came under damage should contact the Wells Fargo customer service to inform the issuer and get the fees waived.

Communities Foundation of Texas has established the Dallas Tornado Recovery & Relief Fund to raise funds. People are still recovering from the consequences of this natural disaster and are in need of help. If you also want to contribute, you can make online donations for disaster relief.

All rates and fees, and other terms and conditions of the products mentioned in this article/post are actual as of the last update date but are subject to change. See the current products' Terms & Conditions on the issuing banks' websites.

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