Wells Fargo Keeps Credit Lines

Wells Fargo ($WFC@US) is reversing an unpopular decision to shutter personal lines of credit for its customers. The bank has decided to keep the products available for those who actively used them or want to reactivate old ones. It will not offer credit lines to new customers. The decision, when announced, drew criticism from consumers who lean on the product as well as Sen. Elizabeth Warren, a frequent critic of the banking industry. Wells Fargo has dealt with a series of reputational blows after it was revealed in 2016 that employees had improperly opened millions of fake accounts. The bank has decided to keep the credit lines available for those who actively used them or want to reactivate old ones. It will not offer the product to new customers.