The 50 banks listed on page 5 of this week’s Jumbo Rate News each have two things in common: 1) They were established prior to 1883 (and are therefore at least 140 years old); and 2) They have each earned a 5-Star…
Non-Housing Debt Up $24 Billion in Q1’23
Credit card balances generally drop during the first quarter as consumers pay down what they spent during the holidays. But not this year. According to The Federal Reserve Bank of New York’s Quarterly Report on Household Debt and Credit, credit…
Bank Account Service Fees: What’s Too Much?
Last week we provided you with a list of the biggest U.S. banks (those with assets exceeding $50 billion). You would expect that those big banks are raking in piles of money in fees. They do, but it’s not what…
When a Cap is not a Cap
The rule is that no single bank should have more than 10% of total industry deposits unless it grows organically. The exception to this 10% cap is when a failure is involved. So it was that history repeated itself, and…
Bank Employee Gains Not Sustainable
The banking industry hired 55,000 full-time equivalent (FTE) employees in calendar 2022. That was a rather surprising 2.66% increase over the year, after what had been a rather stagnant hiring decade. The 10 year employment growth, even after the 2.66%…
The Wheels on the Bus Go Round and …
Six months ago (JRN 39:42) we warned that commercial loans were spooking some banks and noted that, if the Federal Reserve decided to boost the Fed Funds another 75 basis points at its November 2nd meeting, things were going to…
More Banks Selling to C.U.s than Ever Before
Last May (JRN 39:20), we reported that regulators were becoming more critical of CU-bank acquisitions. At least one such deal was cancelled in 2022 as a result. 4-Star Vystar CU, Jacksonville, Florida, unable to get any state or federal regulator…
CRA Reform, for Better or Worse
When looking at modernizing/improving the Community Reinvestment Act of 1977 (CRA), regulators need to take a look back to the past to see how we got to where we are. This look backward, while disconcerting, is not that difficult. Redlining…
Building Relationships and Interest Margins
Two bank failures and lots of banking news (some of which has been over-sensationalized) has given some bank customers the jitters. It seems that every few years we get a reminder of the importance of diversifying. This is one such…
All Credit Union Ratings Updated w/Year-End Data
Here’s some good news. Over half of our nation’s credit unions have earned BauerFinancial’s top 5-Star rating; the highest percent since 2020. Total assets, loans and insured shares all increased in 2022. NCUA Chairman, Todd Harper, first highlighted the industry’s…