Starting a small business isn’t easy. Obtaining the financing can be difficult, especially since you might have trouble finding a bank that is willing to take a chance on you. One of the ways that the government encourages banks and credit unions to help small businesses thrive is by guaranteeing a part of the loan [...]
Many banks have been changing their fee structures, looking for ways to increase revenues. Citing debit card transaction fee caps and other regulatory changes, banks are looking to boost revenue and profits, and that means that they are turning to consumers. It's important that you read communications from your banks, so that you know what's [...]
When you take your money and put it in the bank, you might think that it just sits there, waiting to be called into use by you. However, that's not how it works. Here's how banks make money. Using Your Money to Make Money You have a record of how much money is "yours." A [...]
If you want to save money on mortgage interest charges, now might be the time to take advantage of historically low rates. As of January 5, 2012, Freddie Mac reports that the average rate on a 30-year fixed mortgage is at 3.91% -- a match to record lows. It's even possible to refinance to a [...]
When you're starting a business choosing a bank is more important than you might think. Having a great relationship with your bank and a point of contact can be really helpful. Additionally, finding a bank that won't charge a lot of fees can end up saving you money that can be spent somewhere else (like [...]
How Healthy is Your Bank? One of the issues of importance to many consumers is the health of their banks. The financial crisis of 2008 increased the interest in the health of various financial institutions. It's true that FDIC insurance can protect your money in the event of a bank failure, but there are inconveniences [...]
In early January 2012, President Obama made the recess appointment of Richard Cordray as the head of the recently-formed Consumer Financial Protection Bureau (CFPB). The Bureau was formed in response to the almost-predatory practices of banks leading up to the financial crisis. The point of the bureau is to enforce consumer protections and uphold laws [...]
We are very excited to introduce to our users our new dashboard. The Know Your Bank Dashboard is a place for you to easily track the banks and credit unions that you are interested in watching. It also allows you to compare banks and credit unions against each other. Also when we update data on [...]
By Franklin Ross, CEO of Knowyourbank.com The stress test results were released yesterday by the Board of Governors of the Federal Reserve System. The results have been met by much discussion, especially focused on those bank holding companies who failed the Stress Test. As a result of this discussion, ordinary people who do not have [...]
Right now, there is a great deal of concern about the student loan bubble. The worries center around the fact that there is currently more student loan debt than there is credit card debt or auto loan debt.1 This large amount of debt has many worried about what it could mean for the economy if [...]
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