Menards Looking at In-Store Banks

$500K Unclaimed in Wisconsin WaMu Accounts

When the FDIC closed Washington Mutual Bank two years ago, it deposited about $500,000 in Wisconsin’s unclaimed property account. The state treasurer’s office reports there are about 8,300 accounts belonging to Wisconsin customers – much of it still unclaimed, according to WTAQ 1360 AM.

Chase Rolls Out New Mobile Banking Features

JPMorgan Chase & Co. has rolled out two free mobile banking features to help customers manage their accounts. Customers can receive a low-balance alert via text message and transfer funds by sending a text-message reply, the Business Journal of Milwaukee reported.

M&I Reports 7th Year of Checking Growth

M&I Bank marked seven years of consecutive monthly net personal checking account growth, according to a company press release.

Nicolet Acquires Four Anchor Branches

Nicolet National Bank’s acquisition of four AnchorBank branches in Brown County, Wis., is a natural evolution for the 10-year-old bank, which wants to increase its retail-banking profile, according to a column in the Green Bay Press-Gazette.

Associated Included in Class-Action Suit

A class action lawsuit filed Friday in U.S. District Court questions the way that Green Bay-based Associated Bank calculates and charges overdraft fees when customers use debit cards. Other banks in the lawsuit include bank of America, Citibank, JPMorgan Chase, Union Bank, U.S. Bank, Wachovia and Wells Fargo, the Wisconsin State Journal reported.

Chase Positioned to Compete with PNC

After PNC Financial announced plans for a $50 million expansion in the Milwaukee area, a spokesperson with Chase bank said the company is well-positioned to compete. On the retail side, Chase is hiring more bankers, loan officers and small-business bankers, and it recently introduced envelope-free ATMs and mobile banking services, according to an article in the Milwaukee Business Journal.

Swearing Off Credit Has Downside Too

Although the credit report firm Equifax says credit card applications are down nearly 50 percent, smaller card issuers like Appleton-based Prospera Credit Union have seen the opposite. At the same time, some people, such as young professionals, are swearing off credit cards entirely – which could actually delay the process of establishing a good credit profile. Read more in the Oshkosh Northwestern.

Wells Rolls Out Text Banking to Customers

Wells Fargo & Co. has begun offering “text banking” to all its customers, including those who haven’t yet enrolled in the bank’s online-banking program, the Business Journal of Milwaukee reported.

Federal Law Brings Changes in Overdraft Fees

A check of local banks that provided information to the Wisconsin State Journal found a number of modest fee changes that some customers will face because of a change in federal law related to overdraft fees. Mike Petta, manager of the Verona branch of Capitol Bank, said he thinks smaller banks are trying to hold the line on fees. Read the article.