Recently, JPMorgan Chase announced that it had lost more than $2 billion on risky trades. The news raised more questions about the need for tighter banking regulations; some insisted that more oversight is needed in order prevent the risk inherent in depository institutions proprietary trading. Others, though, believe that introducing new regulations won’t really solve [...]
There has been a lot of discussion about the possibility of Greece leaving the European Union but not much about the potential effect on the largest U.S. banks. If Greece leaves the Euro and there are sovereign bond defaults will our largest U.S. banks (Citibank, Bank of America, JP Morgan) take losses on their Credit [...]
Founders Corner Update: Today we are excited to announce the release of Local Branch Finder, the free and simple tool that allows anyone to instantly view all the bank and credit union branches in their area with their zip code. This is the first of a number of tools we have been working on to [...]
J.P. Morgan Chase has lost 2 billion dollars trading in the last six weeks, and could face an additional 1 billion dollars in second quarter losses. This is no surprise as J.P. Morgan Chase's massive derivatives portfolio (Credit Default Swaps) can cause immense losses to the bank with even small percentage changes in the underlying [...]
Last Friday, Security Bank, National Association of North Lauderdale, Florida became the 23rd bank to fail in 2012. Banesco USA of Coral Gables, Florida, has agreed to assume the deposits and assets of the failed Security Bank. Security Bank N.A.'s failure will cost the Deposit Insurance Fund 10.8 million.
Online banking is an essential part of your financial life. Indeed, with the way we handle money, it’s possible to do your banking without ever setting foot inside a bank. User friendly bank websites are more important than ever because of the increased demand for online banking functionality. Here are our top 7 online banking [...]
The FDIC announced Friday that five additional banks have been shut down, bringing the total number of US bank failures in 2012 from 17 to 22. This is the first time in 2012 that five banks have been announced at once as failing. Below are the banks, along with the acquiring institutions. Bank Name FDIC [...]
Non-citizen residents in the United States have many reasons to want to open a bank account. Indeed, it can make it easier to manage money when you have a bank account, especially if your visit to the United States will be of a lengthy duration. Realize, though, that non-citizen residents are required to go into [...]
Mobile banking is becoming a more and more effective way to handle every day banking needs. With more people than ever using smart phones, banks are putting more of their resources into making safe and easy-to-use mobile applications for customers. One in five people are already using mobile banking. Are you? We'd love to know. [...]
How to Look for the Best Rewards Card There are many rewards credit cards out there, offering a number of opportunities for you to earn free travel, merchandise, and cash back. How do you know which one is right for you? Choosing a rewards credit card should be about what will benefit you the most [...]
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