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Banks

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Target Faces 1st MN Lawsuit In Data Breach

Target now faces its first Minnesota lawsuit following the massive data breach that’s believed to have compromised up to 110 million customers’ information. Five rural banks in southern Minnesota have reportedly joined together to file a lawsuit against the retailer.

02/25/2014

Money

Survey: TCF Tops List For Most Customer Complaints

TCF Bank customers have the most to complain about, according to a new consumer study. Research from the Federal Consumer Financial Protection Bureau says that the Wayzata-based bank was at the top of the list when it comes to the number of complaints they get.

09/24/2013

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Good Question: Why Are Mortgages Sold?

After mortgage banker Alex Stenback of Alerus Mortgage helps people buy a new home, he sells off the mortgage. “We sell everything that we do here,” Stenback said. “When we sell them, it’s one by one.” About 80 percent of home loans are eligible to be sold. Stenback says it can happen for a couple of reasons. “One is there is $10 trillion in outstanding mortgages right now in the country and there’s simply not enough deposits in all the banks to make that many mortgages,” he said.

09/23/2013

(credit: Macalester.edu)

Student Protesters End Sit-In At Minn. College

Students protesting Macalester College’s ties to Wells Fargo have ended their sit-in after the college president agreed to a meeting.

04/25/2013

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Man Pleads Guilty To Swindling Banks Of More Than $1.4 Million

A Lakeville man pleaded guilty Wednesday in federal court to swindling more than $1.4 million in loans from multiple banks, the U.S. Department of Justice said.

08/29/2012

US Bancorp

US Bancorp 1Q Profit Up 28 Percent On Loan Growth

U.S. Bancorp said Tuesday its first-quarter profit jumped 28 percent, as the bank set aside less money for bad loans and got a boost from jumps in income from both loans and fees.

04/17/2012

(credit: Joe Raedle/Getty Images)

Foreclosure Activity Edges Higher In January

Banks took back more U.S. homes in January than in the previous month, the latest sign that foreclosures are accelerating after slowing sharply last year while lenders sorted out foreclosure-abuse claims.

02/16/2012

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Good Question: How Are Banks, Credit Unions Different?

Anger over bank profits and fees have some lining up behind a movement to transfer their accounts to credit unions. So, what is the difference between a bank and a credit union?

11/01/2011

(credit: CBS)

Labor Unions Stand With OccupyMN Protesters

Labor unions joined the front lines Saturday in what Occupy Minnesota has termed “the fight against corporate greed.”

10/29/2011

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Good Question: Why Are Successful Banks Raising Fees?

Wells Fargo is imposing a $3 monthly debit card fee for customers in five states, a move that comes after Bank of America increased its debit-card fees to $5 a month. So, why are banks raising fees even after reporting record quarterly profits?

10/20/2011

(credit: CBS News)

Esme’s Blog: Bank Of America

So Bank of America is going to charge debit card fees of $5 a month if you use your card for purchases.

09/30/2011

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ATM Fees Are Lower In Minnesota Than Most Cities

A national study finds that consumers are facing higher banking fees but those fees are lower in the Twin Cities than in most other cities.

09/26/2011

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6 Banks Shuttered; Makes 34 Closed In ’11

Regulators on Friday shut down a total of six banks in Alabama, Georgia, Minnesota and Mississippi, boosting the number of U.S. bank failures this year to 34. There were 157 bank closures in 2010 amid the shattered economy and piles of bad loans.

04/16/2011

money, credit, credit card, fraud, generic

Banks, Credit-Card Issuers Warn Of Email Breach

With the possible theft of millions of consumer email addresses from an advertising company, several large companies have started warning customers to expect fraudulent emails that try to coax account login information from them.

04/04/2011

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Fed Clears Way For Some Banks To Boost Dividends

The Federal Reserve on Friday cleared the way for some major banks to boost stock dividends, prompting announcements from JPMorgan Chase, Wells Fargo and U.S. Bancorp.

03/18/2011

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