Skip to main content

Minnesotans flock to credit unions in response to bank dissatisfaction

The Credit Union National Association says 10,200 Minnesotans have joined credit unions in the last month. Both Wells Fargo and U.S. Bank have taken criticism for their efforts to charge monthly debit card fees.
  • Author:
  • Updated:
    Original:

The Credit Union National Association says 10,200 Minnesotans have joined credit unions in the last month. Both Wells Fargo and U.S. Bank have taken criticism for their efforts to charge monthly debit card fees.

Next Up

Eric Reinbold

Reinbold guilty of murdering wife with 'particular cruelty'

Eric Reinbold, 46, was convicted of two counts of murder in the second degree in Pennington County Friday.

police tape

Armed assault suspect arrested after standoff in Waite Park

The standoff ended early Saturday when officer obtained a warrant for the home.

Screen Shot 2022-10-02 at 9.06.25 AM

3 dead after plane crashes into house in Hermantown

Two people in the house were uninjured.

FeDh7pUWAAg3NMd

Destructive fire at Maple Grove greenhouse and nursery

The fire burned early Sunday morning at a longtime Maple Grove greenhouse and nursery.

st. cloud state university hockey

SCSU player hospitalized after being taken off ice on stretcher

Luedtke was checked into the boards in the first period and down for a reported 10-15 minutes.

Amber alert wisconsin

Amber Alert in Wisconsin: Search for missing 15-year-old girl

Police believe 15-year-old Kryssy King may be with a 22-year-old man.

Screen Shot 2022-10-01 at 10.18.12 AM

3 St. Paul fast food restaurants robbed in space of an hour

The thieves struck between 7:15 p.m. and 8 p.m.

Screen Shot 2022-10-01 at 9.06.40 AM

What to do with the Kmart site? Minneapolis wants your ideas

The project will connect Nicollet Avenue south of Lake street and north of the Midtown Greenway, reestablishing a street grid.

Screen Shot 2022-10-01 at 7.53.55 AM

Crowd evacuated at end of homecoming football game in Brooklyn Park

Police blamed 'unruly teens' in the stands and some who were trying to enter the stadium.

gas

State to help 44 Minnesota gas stations add E15 pumps

The yellow 88 button is coming to more gas stations in Minnesota.

Related

Minnesota credit unions add hundreds of customers on 'Bank Transfer Day'

MPR reports about 600 people shifted $1.3 million to smaller community banks. That was just on one day. For all of last month, credit unions gained a total 11,000 customers.

Wells Fargo drops debit card charge idea

Wells Fargo announced it is canceling a proposed monthly fee of $3 for debit card users. The bank, which controls 36% of Twin Cities banking transactions, made the decision after receiving negative customer feedback.

St. Paul high school cafeteria to get credit union

As an unusual offshoot of the school's business program, St. Paul Federal Credit Union will open a branch in the Como High School cafeteria. Students will act as tellers and customers. The branch will give teens a taste of working in finance and insights into managing their money, the Pioneer Press reports.

Minn. law firm at center of massive new bank settlement

Pressed for years by a Minneapolis law firm, Visa, MasterCard and 13 of the country's biggest banks have agreed to pay $7.25 billion to settle accusations by retailers that they engaged in price-fixing on credit card transaction fees. The settlement could be the largest antitrust class-action settlement in U.S. history. Lead counsel for the class plaintiffs is K. Craig Wildfang, an antitrust lawyer in Minneapolis with Robins, Kaplan, Miller & Ciresi.

Target opposes proposed $7.25B settlement on credit card fees

Minneapolis-based Target Corporation has joined a growing list of more than two dozen retailers who object the propposed multi-billion dollar deal to settle a seven-year class-action lawsuit, Twin Cities Business reports. More than 7 million merchants claim Visa, MasterCard and some of the nation's largest banks fixed the fees they charge to retailers on credit card transactions. A Minneapolis-based law firm filed the case in 2005 and announced the agreement earlier this month. The class-action settlement still requires a judge's approval.

Target agrees to sell consumer credit card portfolio to TD Bank Group

Toronto-based TD Bank Group will acquire Target's consumer credit card portfolio for nearly $6 billion, according to a company news release. The Minneapolis-based retail giant has also entered into a seven-year agreement under which TD Bank will underwrite, fund and own future Target Credit Card and Target Visa receivables in the U.S.