Wells Fargo leaves marine industry

SAN FRANCISCO – Wells Fargo Specialty Finance has sent a letter to its RV, motorcycle, marine and powersport dealer clients, informing them it will no longer provide them with indirect financing, RVTradeDigest.com reported in an article earlier this week.

“The bank will stop processing applications Aug. 4 and cease all indirect lending by Oct. 3. No reason was given for the withdrawal,” the Web site reported.

The company did remind clients through the letter that it would be continuing its Business Banking services and asked those with questions to contact its Dealer Administration support at 1-888-303-6856 option 2, option 6, according to RVTradeDigest.com.

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