Category: Saving & Banking
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HUD is investigating Wells Fargo’s $60 billion pledge to add 250,000 Black homeowners
The federal housing department has opened an investigation into one of the biggest bank pledges ever made on Black homeownership. The Department of Housing and Urban Development said on Oct. 7, 2026, that it is looking at whether Wells Fargo’s program to add 250,000 Black homeowners by 2027, part of a $60 billion lending commitment,…
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Missouri returned nearly $61 million in unclaimed property in fiscal 2026 and still holds more than $1.5 billion
Missouri handed back nearly $61 million in unclaimed property during fiscal 2026, the most the state treasurer’s office has ever returned in one year. The office still holds more than $1.5 billion in more than 10 million accounts that nobody has claimed. State Treasurer Vivek Malek says about 1 in 10 Missourians has money waiting,…
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BMO checking customers will generally get mobile check deposits the next business day starting Nov. 7, while savings deposits take up to two business days
Photographing a check with a phone and depositing it through the BMO app is about to come with a firmer clock. Starting Nov. 7, 2026, mobile deposits into BMO checking accounts will generally be available the next business day, and deposits into savings accounts will generally be available by the second business day. The bank…
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Fannie Mae now lets mortgage servicers contact homeowners who may be able to drop private mortgage insurance based on their home’s current value
Homeowners who pay private mortgage insurance may start hearing from their loan servicer about getting rid of it. On Sept. 16, 2026, Fannie Mae told the companies that collect mortgage payments that they may now reach out on their own to borrowers who could be eligible to end that insurance because their home is worth…
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A former Indianapolis letter carrier admitted stealing checks from the mail on his route in a $34 million bank fraud with about 6,500 victims
Destinee Ruffin, 29, a former letter carrier at the Bacon Station Post Office in Indianapolis, pleaded guilty on Oct. 9, 2026, to running a $34 million conspiracy to commit bank fraud by stealing checks from the mail. The U.S. Attorney’s Office for the Southern District of Indiana says in its plea announcement that about 6,500…
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A Visa and Mastercard settlement up for approval Nov. 16 would let stores add a surcharge for credit cards and turn away premium cards
A swipe-fee settlement now before a federal judge would let stores charge extra when a customer pays with a Visa or Mastercard credit card. It would also let them refuse some of those cards outright. Nothing has taken effect yet, because the court has given only preliminary approval. A fairness hearing is set for Nov.…
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Apple Cash users who have not verified their identity lose the ability to add money from a debit card starting Nov. 9, on a rolling basis
Apple Cash customers who have never verified their identity are about to lose a way to put money on the card. Green Dot Bank, which holds Apple Cash balances, says in its Apple Cash terms that starting Nov. 9, 2026, and on a rolling basis after that, an unverified account can no longer load its…
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SBA disaster loans are open to storm and fire victims in Ohio, Connecticut, New York, Washington and Pennsylvania, with deadlines of Nov. 23 and Dec. 1
The U.S. Small Business Administration has opened disaster loans for people hit by storms, flooding and a wildfire in five states: Ohio, Connecticut, New York, Washington and Pennsylvania. Applications for property damage are due Nov. 23 in three of the states and Dec. 1 in the other two, according to the SBA’s notices in the…
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Treasury says approved student loan rehabilitation applications rose 69 percent since Treasury joined Education on defaulted loans, as a new borrower portal opened Sept. 30
Treasury says approved applications for student loan rehabilitation are up 69 percent since it joined the Education Department on defaulted loans less than six months ago. The two agencies announced the figure on Sept. 30 as they opened the Defaulted Loans Support Center, an online portal at StudentAid.gov for borrowers whose federal loans are in…
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A bill Congress passed would restore higher bankruptcy debt limits that expired in 2024, raising the small-business Subchapter V cap to $7.5 million, and it has not been signed into law
Congress has passed H.R. 7730, the Bankruptcy Threshold Adjustment Act, which would bring back the higher debt ceilings for small-business and family bankruptcies that lapsed in 2024. The House passed the bill by voice vote on Sept. 16, and the Senate passed it without amendment by unanimous consent on Sept. 28. The latest action on…