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COVID-19 | Special Report
WELLS FARGO
SUSPENDS
FORECLOSURE
SALES AND
EVICTIONS
Wells Fargo & Company has announced
that it has suspended residential property
foreclosure sales, evictions and involuntary
auto repossessions, as part of additional
comprehensive steps to help customers,
communities and employees grappling with
the impact of COVID-19. Additionally,
the Wells Fargo Foundation will increase
its charitable donations to $175 million to
help address food, shelter, small business and
housing stability, as well as to provide help to
public health organizations.
"e coronavirus is disrupting the daily
lives of many people around the world, and
Wells Fargo has taken—and will continue
to take—the steps needed to support our
customers, employees and communities
during this difficult time," said CEO Charlie
Scharf. "We will continue to evaluate this
fluid situation and take additional action as
necessary."
Wells Fargo is taking several other steps
to meet the needs of customers, operate
safely and effectively and reduce the risk to
employees and customers, recognizing that
the company provides critical and essential
services to the stability of the economy and
the financial wellbeing of customers. e
Wells Fargo Foundation is also increasing
its charitable donations to $175 million to
help address food, shelter, small business and
housing stability, as well as to provide help to
public health organizations.
e company also is offering fee waivers,
payment deferrals and other expanded
assistance for credit card, auto, mortgage,
small business and personal lending customers
who contact the company.
Wells Fargo will also be supporting its
employees through a $10 million donation
to its WE Care Fund. e fund provides
resources to colleagues who face a catastrophic
disaster or financial hardship resulting from
an event beyond their control. is program is
available to those affected by coronavirus and
is intended to help employees, especially those
with limited resources, get back on their feet
with basic necessities.
