Survey: TCF Tops List For Most Customer ComplaintsTCF 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.
Good Question: Why Are Mortgages Sold?After mortgage banker Alex Stenback of<a href="http://www.behindthemortgage.com"> Alerus Mortgage</a> 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.
Student Protesters End Sit-In At Minn. CollegeStudents protesting Macalester College's ties to Wells Fargo have ended their sit-in after the college president agreed to a meeting.
Man Pleads Guilty To Swindling Banks Of More Than $1.4 MillionA 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.
US Bancorp 1Q Profit Up 28 Percent On Loan GrowthU.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.
Foreclosure Activity Edges Higher In JanuaryBanks 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.
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?
Labor Unions Stand With OccupyMN Protesters Labor unions joined the front lines Saturday in what Occupy Minnesota has termed "the fight against corporate greed."
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?
Esme's Blog: Bank Of AmericaSo Bank of America is going to <a href="http://dealbook.nytimes.com/2009/12/10/bank-of-america-finishes-tarp-repayment/" target="blank">charge debit card fees</a> of $5 a month if you use your card for purchases.
ATM Fees Are Lower In Minnesota Than Most CitiesA national study finds that consumers are facing higher banking fees but those fees are lower in the Twin Cities than in most other cities.