Wells Fargo, Amazon end deal to offer discounted student loans
- S&P 500, Nasdaq set records as tech, banks lead
- Texas Instruments (TXN) Tops Q4 EPS by 20c, Issues Solid Q1 Outlook
- Intuitive Surgical (ISRG) Tops Q4 EPS by 10c; $2B Accelerated Share Repurchase
- Seagate Technology (STX) Tops Q2 EPS by 30c
- After-Hours Stock Movers 01/24: (BOBE) (STX) (WDC) Higher; (NEWT) (MRCY) (CA) Lower (more...)
Amazon.com's logo is seen at Amazon Japan's office building in Tokyo, Japan, August 8, 2016. REUTERS/Kim Kyung-Hoon
Get daily under-the-radar research with StreetInsider.com's Stealth Growth Insider Get your 2-Wk Free Trial here.
(Reuters) - Wells Fargo & Co and Amazon.com Inc said they had ended a partnership to offer discounted student loans to the online retailer's "Prime Student" customers, about six weeks after announcing the deal.
Under the deal announced on July 21, Wells Fargo had agreed to shave half a percentage point from its interest rate on student loans to Amazon "Prime Student" subscribers, who also get benefits such as free two-day shipping and access to movies, television shows and photo storage.
"That promotion for Prime Student members has ended," a Wells Fargo spokeswoman said on Wednesday. She declined to provide further details of the agreement.
Amazon spokeswoman Deborah Bass also confirmed the termination of the partnership.
Bloomberg first reported earlier in the day that Wells Fargo and Amazon had ended the agreement. (http://bloom.bg/2bK2cHO)
(Reporting by Sruthi Shankar in Bengaluru and Dan Freed in New York; Editing by Kirti Pandey)
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Illinois man sentenced to nine months in celebrity hacking case
- Exclusive: Brazil's Odebrecht says anti-graft backlash threatens fines, public works
- Intuitive Surgical sees slower 2017 procedure growth, buys back shares
Create E-mail Alert Related CategoriesReuters
Related EntitiesWells Fargo
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!