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Continued: Federal scrutiny of college student debit cards heats up

  • Article by: JENNIFER BJORHUS , Star Tribune
  • Last update: September 30, 2013 - 9:13 PM

A bank spokeswoman said it looks forward to responding to any questions congressional leaders or regulators have about its campus programs.

“We are very proud of the choices we offer students in their banking relationship with U.S. Bank,” said Teri Charest. “Our student checking account has been recognized nationally by Money Magazine as one of the best in the nation for value and convenience.”

A Wells Fargo spokeswoman said the bank doesn’t require students to bank at Wells Fargo. Students, faculty and staff must opt in to link their school ID cards to their Wells Fargo consumer deposit accounts, said Peggy Gunn.

“The opt-in process is upfront, transparent and designed to honor and facilitate the consumer’s choice,” Gunn said.

Jennifer Bjorhus • 612-673-4683

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