Banking and Savings Most Popular Articles

  • cash payment
    5 Strategies to Pay for College Today
    Military.com|
    To help streamline your college banking and find the cash to pay for an education in today's economy, here are five methods and...
  • ATM
    10 Best Military Banks of 2015
    Military.com|
    A study investigated more than 30 military banks and credit unions, and came up with this top 10 list.
  • 70 ways to save money
    70 Easy Ways to Save Money
    Jeff Rose
    Here are 70 ways you can save money in the four biggest budget categories: food, transportation, housing, and health.
  • UsingATMs
    Top Five Military Banks and Credit Unions
    Military.com|
    If you're in the military or are a veteran and are looking for a bank, this list is for you.
  • Your Service Will Get You Great Deals
    Military.com
    Everyone knows that your military ID card grants you access to the many services and benefits available on a military installat...

Bank to Repay Fees to Military Families

Wells Fargo & Co. will pay $175 to any eligible veteran who had a Department of Veterans Affairs Loan refinanced between Jan. 20, 2004, and Oct. 7, 2010, the bank said Tuesday.

The move comes as part of a court settlement in a Georgia lawsuit that alleged the bank overcharged active-duty military personnel when they executed the refinances. Federal law protects active-duty military members from foreclosure and high interest rates.

Wells Fargo will alert eligible households with letters. The bank could pay out up to a total of $10 million, it said.

This marks the second major concession by big banks to military families this year. Last month, JPMorgan Chase & Co. refunded $2 million to 4,000 servicemembers who'd been forced to pay high interest rates.

Military News App by Military.com

Download the new Military.com News App for Android on Google Play or for Apple devices on iTunes!

© 2016 Military Advantage