Wells Fargo Introduces Enhanced Identity Theft Protection

Expanded Product Includes Monthly Triple Credit Bureau Reports and Scores, Online Calculators, Credit Score Tracker and Credit Score Alerts

SAN FRANCISCO--(BUSINESS WIRE)-- Wells Fargo (NYSE:WFC) today announced the availability of Enhanced Identity Theft Protection, which provides customers an easy way to monitor their credit and check for inaccuracies that may indicate identity theft. An expanded version of the current Identity Theft Protection service, the enhanced service includes monthly triple credit bureau reports and scores, online calculators, credit score tracker and credit score alerts and is available through Wells Fargo Insurance and provided by Trilegiant Corporation.

Wells Fargo expanded and enhanced the service in response to customer demand. “The original Identity Theft Protection provided customers a way to monitor their credit to help watch for signs of identity theft,” said Melanie Donaghy, Internet Services Group Online Service Marketing Manager. “Customers told us they care about their credit score, so our enhanced service gives them more of an ongoing credit management tool. It fits right in with our overall focus on financial education. And they are speaking with their clicks—they began signing up for this service even before we began marketing it.”

Customers’ strong interest in protecting against identity theft is one example of a broader concern—managing credit and finances in a turbulent economy, said Robert Dudacek, Wells Fargo Insurance Direct Response Group Manager. “Customers are not only interested in getting their credit score but also about understanding it better and tracking how it changes over time,” Dudacek said. “At Wells Fargo, we know a credit educated customer is a better banking customer. Most people are aware that a credit score can affect their ability to qualify for a big purchase, such as a home or car, but many don’t know exactly how, or that it can affect the rate they pay. Others may not know that a credit score can affect not only purchases but insurance premiums. This new service, with credit score trackers and alerts, gives customers a clear picture of where they stand and how they can improve.”

The enhanced identity theft service offers a variety of tools to help customers manage credit, including an online “Credit Score Simulator” that lets customers see how a credit score changes if they decide to reduce debt on mortgages or credit cards, refinance a loan, apply for a credit card or consolidate debt into a new account. Filling in the different situations and then running the scenario gives an online picture of how financial decisions are tied to credit scores.

The Enhanced Identity Theft Protection service is available now and customers can receive their credit report and score online in seconds. Learn more at wellsfargo.com/insurance.

About Wells Fargo Online, Mobile & Text Banking

Wells Fargo is a leading provider of online and mobile financial services for individual consumers, small and middle market businesses, and large corporations with a full range of banking, money movement, investing, asset management, and other financial and risk management products. Wells Fargo has been named the No. 1 Consumer Internet Bank in North America by Global Finance magazine (November 2009), earned an “A” grade from ABI Research for Wells Fargo Mobile (September 2009); ranked the No. 1 website out of 68 leading U.S. corporations' websites for technology innovation by the Brookings Institution (July 2009) and was awarded two Monarch Innovation Awards by Barlow Research for online services for small business, including Foreign Exchange Online and My Spending Report with Budget Watch (February 2009).

About Wells Fargo Insurance, Inc. Wells Fargo Insurance, a Minneapolis-based company, is a full-service independent insurance agency that has been helping customers protect what they value since 1903. Today, Wells Fargo Insurance is one of the largest insurance agencies affiliated with a bank in the United States and provides a wide range of protection solutions, including auto, home, life, renters, business property, business liability, commercial auto, workers’ compensation, flood, and other insurance products, as well as identity theft and payment protection.

Wells Fargo & Company is a diversified financial services company with $1.2 trillion in assets, providing banking, insurance, investments, mortgage, and consumer and commercial finance through more than 10,000 stores and 12,000 ATMs and the Internet (wellsfargo.com and wachovia.com) across North America and internationally.

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Source: Wells Fargo & Company