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Major lender Wells Fargo announced this week that it would be offering fixed-rate private student loans. This new loan offer is unique since unlike those offered by the federal government, most student loans from private lenders do not come with fixed rates,
Bank Tries to Compete in Private Sector 
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Patrick Rodgers is no doubt a hero to struggling homeowners across America facing foreclosure. He may be the only individual to turn the tables and begin foreclosure proceedings on a mortgage giant like Wells Fargo.
Investors were given good news on Friday from analysts who said financial institutions are ready to pay dividends again after a three-year break. Some of the nation’s largest banks plan to restore dividends in the first half of the year now that they’ve been able to repair some of the damage to their balance sheets.
Billions to Hit Pension Funds
Mortgage servicer Wells Fargo is providing loan modifications to approximately 15,000 homeowners and payouts to thousands more as a part of a settlement with California’s attorney general. In an announcement made on Monday, Attorney General Jerry Brown said the mortgage servicer has agreed to provide $2 billion worth of modifications and an additional $32 million to borrowers to who lost their homes to foreclosure.
Modifications and Settlements for Homeowners with “Pick-a-Pay” Loans
Customers would rather open an account at a credit unions or small bank over a big, national bank, according to a report released on Tuesday from the American Customer Satisfaction Index. While customer satisfaction with credit unions and small banks has dipped some, customers still favor them over major financial institutions.
Credit Union Satisfaction Dips
Smart phone applications are all the rage these days. There are so many available that it almost be a sin not to take advantage of at least a few. If you like the idea of making your banking transactions from your phone, you might consider downloading some of the latest, greatest smart phone bank iPhone or Android applications.
We’ve complied a list of the latest and greatest, along with some less popular reviews. How does you bank’s app stack up? Check them out and find out!
Major banking giant Wells Fargo has decided to stop offering subprime mortgages and plans to close 638 subprime lending offices that operate nationwide. The subprime mortgages are typically handed out to those in lower-income neighborhoods.
The bank decided to drop the mortgages because they simply don’t provide the business that it’s looking for anymore. However, it will still provide subprime auto loans and credit cards. As a result the unit closure, about 3,800 employees will lose their jobs (LA Times).
Automatic payments are affiliated with everything from cable bills to gym memberships. Why not get into the habit of automatic savings, too? It’s not a mystery that many people have a difficult time saving money and keeping their high interest savings accounts full. Banks know this as well, and have set up a variety of programs to make automatic deposits into the best saving accounts easy and convenient.
How to Save Money with Automatic Transfers
The First Time Home Buyer tax credit may have fueled a considerable jump in home sales for the month of April, auto dealers may slide past rules that would require them to be watched over by consumer financial protection regulators and parents may be able to take advantage of a new private student loan option to help pay for their kids’ college.
