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Wells Fargo to scrap bounced check, overdraft protection fees by March 30 -Breaking

by Mike Robinson

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© Reuters. FILEPHOTO: The Wells Fargo logo was seen in New York City (USA), January 10, 2017. REUTERS/Stephanie Keith/File Photo

By Elizabeth Dilts Marshall

NEW YORK (Reuters) – Wells Fargo (NYSE:) & 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.

Customers who have overdrawn their accounts within 24 hours will be able to raise the amount to $0 without paying a $35 fee. Wells Fargo also will allow customers receiving direct deposits to access funds for up to 2 days.

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