Updated:
Original:

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:

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

sidecar drink

Sidecar — Town Hall's new cocktail lounge — is officially open in Minneapolis

It's the fifth Town Hall location, but the first to focus on cocktails.

Screen Shot 2019-07-18 at 9.10.30 AM

Here's where DFLers stand on Minneapolis' public safety ballot question

The question would create a Department of Public Safety and remove some requirements.

Arthur Kollie

Man pleads guilty to brutal murder of 14-year-old girl in Fargo

The 14-year-old girl was the victim of a random attack outside a Fargo strip mall.

Minneapolis Mayoral Candidates 2021 - jacob frey sheila nezhad kate knuth

Here's who has endorsed the frontrunners for Minneapolis mayor

Politicians and community groups are voicing their opinions.

covid

Minnesota's COVID-19 update for Tuesday, October 26

The latest data for the pandemic in Minnesota.

target

Target touts new app, ordering features ahead of holidays

Here's how the retailer plans on making things "easy" for customers.

shower

Someone keeps trying to film showering women at U of M

The university has received three reports in the past two weeks.

Anya Magnuson

Woman in critical condition after driver hit her in Minneapolis

She's been unresponsive, but recently gave a thumbs up to her family.

crime scene tape - police tape

Suspect in fatal hit-and-run of Blaine dog walker arrested

The woman was airlifted and died at the hospital.

Anthony Edwards

Ant's rally not enough to save Timberwolves

Edwards' third-quarter explosion came too late in a loss to the Pelicans.

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.

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.

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.