September 9, 2010

Lauren Bowne
Consumers Union
1535 Mission Street
San Francisco CA 94103

Dear Lauren Bowne:

Your correspondence addressed to Mr. John Stumpfwas received by Wells Fargo. I appreciate the opportunity to address your concerns.

Effective July 1,2010, we made a number of changes. First, we no longer charge more than four overdraft or returned item fees on any day. Second, we no longer charge any overdraft fees if the customer’s account is overdrawn by $5 or less on a day. Finally, in compliance with Regulation E (which was effective July 1st for
new accounts and was effectiveAugust 13th for our existing accounts), debit card transactions are no longer approved (nor will overdraft fees be assessed) if the amount of the transaction is more than the amount of money in the customer’s account unless customers add Debit Card Overdraft Service to their account. In addition to these changes, Wells Fargo provides a number of tools to help customers manage their account balances, such as low balance alerts and free online and mobile banking. We encourage all customers to keep track of their balance, leave a cushion in their account and to link accounts for Overdraft Protection to avoid fees.

Again, I appreciate the opportunity to review your concerns and hope this letter explains Wells Fargo’s efforts.

Sincerely,
April Caraballo
Senior Correspondence Specialist