Loyola Marymount University Participates in an Affinity Checking Account Program with Wells Fargo Bank, NA. Wells Fargo Bank, NA has jurisdiction over the management and operations of the affinity checking programs in compliance to applicable State and Federal Banking regulations. Participation in the program benefits LMU in the form of a royalty for the use of the schools brand only.
The Department of Education’s (ED) Cash Management regulations 34 CFR 668.164(d)(4)(i)(B)(2) (issued October 2015), require institutions participating in T2 (Campus Card) arrangements to list and identify the major features and commonly assessed fees as well as a URL for the terms and conditions of each financial account offered under the arrangement.
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Loyola Marymount University and Wells Fargo Campus Card Agreement
For the Award Year period July 1, 2016- June 30, 2017
- Total number of Accounts:929
- Total Accounts Mean and Median Costs:
- Mean: $77.73
- Median: $23.30
- Total Consideration Received by Institution:
- Royalties: $11,000