Weeks after facing public scrutiny from customers and consumer advocates, the bank announced a reversal of its decision.
“Based on feedback from our customers (thank you if you provided feedback!)
“The terms of your account are not changing.”
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Why did Wells Fargo reverse its decision?
Wells Fargo didn’t immediately respond to CNET’s request for comment.
The bank has had a tumultuous few years of federal investigation.
Account holders were also forced to pay millions in credit and mortgage fees.
Why did consumer advocates oppose credit account closures?
Consumer advocates took issue with the move and its potential impact on customers' financial stability.
How do revolving credit lines affect my credit score?
The lower your debt-to-credit ratio, the better your credit score.
Now let’s assume that Account C is closed by the bank.
Originally published last month.
Updated with new information.
