Knowyourbank.com’s blogs are focused on topics such as personal finance, credit, and bank fees. Our goal is to help provide readers with information that will help them make better decisions, save money, and avoid unnecessary fees.
Record Low Mortgage Rates: Now Is the Time to Lock in a Low Fixed Rate
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 [...]
Choosing a Bank for your Startup
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 [...]
Measuring the Health of Your Bank
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 [...]
Richard Cordray is Here to Protect You
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 [...]
Intro to Know Your Bank Dashboard
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 [...]
Stress Test Results: The Misled and Confused
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 [...]
How Non-Citizens Can Open a U.S. Bank Account
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 [...]
FDIC Closes 5 Banks Last Friday
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 [...]
Top 7 Online Banking Programs
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 [...]
Security Bank is 23rd US Bank to Fail in 2012
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.
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