Complaint or Question About Your Financial Institution? We do a lot of things here at BauerFinancial, but since we are a private research firm, and not a government agency, fielding complaints about financial institutions is not really one of them.…
New Brokered Deposit Rules, Let’s Break it Down
In observance of the Easter Holiday, Jumbo Rate News will not be published next week, April 5th. While we are on hiatus though, a new brokered deposit rule will go into effect (April 1st, to be exact). While we don’t…
Two Days, Two Divergent Opinions, Who’s Right?
On Monday, March 15th, The Wall Street Journal ran a very upbeat article entitled, “U.S. Banks Will Turn Last Year’s Fear Into This Year’s Profits”. The article opines that the tens of billions of dollars that were set aside by…
Nation’s Banks, CUs Standing Strong, So Far
Coral Gables, Florida, March 17, 2021 Coral Gables, FL: BAUERFINANCIAL, Inc., the nation’s premier Bank and Credit Union rating firm, remains cautiously optimistic about the condition of our nation’s banks and credit unions. Net income was down in 2020 as…
New Credit Union Star-Ratings
Membership growth slowed at the nation’s federally-insured credit unions in 2020, but that’s not surprising, as most of us were sheltering in the safety of our homes most of the year. Even so, they managed to gain 4 million new…
Businesses Upbeat But CFPB Screams “Help”
The latest Beige Book, released March 3rd and based on information collected through February 22nd, indicates that most businesses are optimistic with the roll-out of the COVID-19 vaccine. Employment levels, already slowly on the rise, are expected to continue that…
New Bank Data Shows Income Down Not Out
All bank star-ratings and reports are now based on year-end 2020 financial data. (Credit Unions will be updated soon.) Three new banks opened their doors during the fourth quarter, bringing the total number of de novos for 2020 up to…
Loans to Bank Insiders Top $34 Billion
Loans to bank insiders often arouse negative feelings to bank outsiders. Those people often hear news of inordinate salaries or bonuses paid to bank CEOs. So we were not surprised when there was pushback to the idea of forgiving certain…
When Common Bond Means Struggling Together
We may be tired of hearing that “we’re all in this together”, but for credit union members (who are also owners) their common bond makes it true. In good times, this common bond is a source of strength: a group…
PPP: Also Available From Your Credit Union
As of January 31st, 4,942 lenders were participating in the new 2021 Paycheck Protection Program. The vast majority are banks, but credit unions are doing their part as well. According to the Small Business Administration (SBA), during the first month…