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NEW YORK (Reuters) – Wells Fargo (NYSE:WFC) & Co said on Tuesday that it will stop charging customers fees for bouncing checks and will waive fees for customers using its overdraft protection services by March 30, as it becomes the latest bank to announce changes to overdraft policies amid growing regulatory scrutiny.
Wells Fargo will also give customers who overdraw their accounts 24 hours to bring the balance above $0 before charging them a $35 fee, and it will begin giving customers who receive direct deposits access to those funds up to two days in advance.
