Wachovia com myaccounts
In fact, last year big banks experienced the first aggregate drop in loans in more than a decade, according to Barclays bank analyst Jason Goldberg. She is the one who cares if I move my accounts to the bank down the street.
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Corporations have used money raised in stock and debt issuance to retire bank credit lines, and consumers stuck at home had fewer reasons to use credit cards. I currently download and pay bills from my Wachovia checking account with. The move is a strange one given the banking industry's need to boost loan growth.Īfter a burst of commercial lending during the early days of the pandemic, loan growth has been hard to muster. When it was offered, the credit lines had variable interest rates ranging from 9.5% to 21%.
The bank gave this statement: "In an effort to simplify our product offerings, we've made the decision to no longer offer personal lines of credit as we feel we can better meet the borrowing needs of our customers through credit card and personal loan products."Īfter publication of this article, a Wells Fargo spokesman gave additional remarks: "We realize change can be inconvenient, especially when customer credit may be impacted," the bank said, adding that it was "committed to helping each customer find a credit solution that fits their needs."Ĭustomers have been given a 60-day notice that their accounts will be shuttered, and remaining balances will require regular minimum payments at a fixed rate, according to the statement.
I cant figure out why it would be set up to jump back two. Wells Fargo didn't directly answer questions as to what role, if any, the Fed asset cap played in its latest move. That means I have choose bank accounts again, then scroll to the account I want.