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01/10/2019

Banks Waive Fees For Workers Affected By Shutdown

Some banks are forgiving late payments, service fees from impacted customers

Some banks are forgiving late payments and service fees from customers among the approximately 800,000 federal workers affected by the partial government shutdown, which is in its third week.

Details: Wells Fargo will be automatically reversing monthly service, overdraft and insufficient fees, a spokesperson tells Axios, which Chase and Capital One are already doing. Capital One is also extending some loan payment due dates and waiving or refunding some credit card fees. Bank of America is working with customers on fee refunds, waivers, repayment plans and loan modifications.

Between the lines: These banks are often deciding forgiveness options on a case-by-case basis, and each of these banks indicated federal workers should get in touch with their banks directly to work out the details.

Please select this link to read the complete article from Axios.

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