I know... it's WF. But I started banking with them in 2000 before I knew about how evil they are, and when you build up a lot of credit, it's hard to just leave (especially living in a rural town where local banks are much more conservative).
ANYWAY...
Got a letter from WF yesterday saying that at the end of August they are closing all personal lines of credit, and transferring existing balances to loans. Thankfully my balance is zero. BUT, as a self-employed person it was nice to have that instrument as a backup.
I am sharing this because I wonder if it means something is coming and they don't want the exposure? Furthermore, there was no page with text in Spanish, but there were pages of Chinese text. Wtf?
Anyone else seeing the credit line closure? Why would a bank just close a product when it is easy interest?
The fact that they have a version in Chinese and not Spanish is telling. They know something's about to happen. Either Biden's going to declare war on China as the "scare event" or Trump's going to come back and cut off all financial ties to China or they know the dam is going to break and they will be in financial ruin.
The Dam literally break? As in 3 Gorges?
Yep. I heard that would devastate them.
yes likely 100M dead and one third of their manufacturing base. I had read that somewhere, not sure if true but it would be something big