Wells Fargo Closing Personal Lines Of Credit

BOISE, ID — Wells Fargo Banks, a institution with 14 branches and ATMs in Boise, has announced the shuttering of all existing personal lines of credit and will not offer the popular product to consumers in the future according to a report by CNBC on Thursday.

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Wells Fargo originally marketed as a revolving line of credit to be used as an alternative to high-interest credit card debt, home renovations and if linked to a checking account, an account to avoid overdraft fees on checking accounts.

Existing Wells Fargo customers have been mailed a 60-day notice of their accounts being shut down.

In the past year, Wells Fargo has suspended the home equity loans program and ceased providing auto loans for a majority of independent auto dealers.

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