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Wells Fargo to end some checking coverage
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Wells Fargo to end some checking coverage
Wells Fargo & Co., one of the two biggest banks in Minnesota, plans to stop offering deposit insurance on checking account balances above the standard $250,000 federal limit. The extra insurance will end Jan. 1, said Richele Messick, a spokeswoman for the San Francisco-based lender. Checking and savings accounts remain insured by the Federal Deposit Insurance Corp. up to the $250,000 limit. Minneapolis-based U.S. Bancorp made a similar move last week.
BLOOMBERG NEWS
Cirrus trims workforce by 58Airplane maker Cirrus Design Corp. of Duluth said 58 production employees were laid off this week as the company prepared to enter its slow season. The airplane manufacturer cut 26 workers in Duluth and 32 at operations in Grand Forks, N.D., said Todd Simmons, Cirrus' vice president of marketing. Wednesday's cuts put Cirrus' total employment at about 550, down from about 1,300 in August 2008.
DULUTH NEWS TRIBUNE
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