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Business and Economic News

Federal watchdog sues TCF Financial over overdraft fees

Federal watchdog sues TCF Financial over overdraft fees

Federal consumer finance regulators said Thursday they were suing TCF Financial Corp., alleging the Twin Cities-based bank deceived consumers so it could charge them exorbitant overdraft fees. The lawsuit also alleged extracting fees was a point of pride: TCF chairman William Cooper named his boat "Overdraft."
by Associated Press

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NFL's Raiders file papers to move from Oakland to Las Vegas

"I am happy to see the process moving forward, and greatly appreciate the commitment of the Raiders and work of the Adelson family to the hope of making Las Vegas the home of the Raiders," said Clark County Commission Chairman Steve Sisolak.
by Associated Press

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Not just a crock: The viral word-of-mouth success of Instant Pot

Not just a crock: The viral word-of-mouth success of Instant Pot

Launched in 2010, the multifunction cooker became a sleeper hit last year. That's when its maker harnessed the enthusiasm of owners - self-dubbed "addicts" - to spread the word online.
by Grace Hwang Lynch

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MN December jobless rate ticks up to 3.9 percent; 12K jobs added

MN December jobless rate ticks up to 3.9 percent; 12K jobs added

The state's seasonally adjusted jobless rate remained below the 4.7 percent national rate, but the nation continued to outpace Minnesota in one-year job growth.
by MPR News Staff

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Source: Trump picks former Ga. Gov. Perdue to lead USDA

Former Georgia Gov. Sonny Perdue, 70, would be the first Southerner to lead the Agriculture Department in more than two decades.
by Associated Press

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Minneapolis Fed presses effort to close racial, economic gaps

Minneapolis Fed presses effort to close racial, economic gaps

Hoping his institution can be a force for economic equality, Minneapolis Federal Reserve President Neel Kashkari on Wednesday unveiled a new research push that he said would focus on the well-being of all Americans.
by Martin Moylan

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Builders worry affordable housing support will shrink under Trump

Builders worry affordable housing support will shrink under Trump

Minnesota low-income housing builders say they're already feeling the impact of Donald Trump's presidential victory. Uncertainty about his corporate tax policies has nearly scuttled a key financing mechanism for new developments.
by Catharine Richert

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Commerce nominee Ross declares he is pro-trade, pro-union

Commerce nominee Ross declares he is pro-trade, pro-union

Billionaire investor Wilbur Ross cited his relationship with the United Steelworkers Union, which has endorsed him for the Cabinet post, as proof that he will work to protect American jobs.
by The Associated Press

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The rise of MyPillow and CEO Mike Lindell

Writer Josh Dean recently spent time with Lindell at his new factory in Shakopee for an article published this week in Bloomberg Businessweek.

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