While the majority of business or commercial lending in the U.S. is done by banks, credit unions have been an important supplier of business credit to members who perhaps would not have received it elsewhere. This became particularly evident during…
One Size Fits All Forces Banks to Merge
The question is one we have been asking for ten years, and we are far from alone: Why are small, community banks treated the same as Too Big to Fail Mega-Banks? Almost everyone seems to agree that a one size…
All New BANK Star-Ratings This Week
Bank star-ratings are now all based on December 31, 2017 financial data. As a result, several banks are in new categories and three have re-qualified for listing. They are all listed on page 2. In addition…
From Consumer Debt to Consumer Debt Traps
While the Eastern seaboard was being pummeled by Winter Storm Grayson, we were reflecting on the happenings of 2017.
January: A willingness to spend and put things on credit showed an increased confidence in both the recovery…
Wells Fargo’s Stumpf Out, Tim Sloan In
It wasn’t either of the bruising punishments on Capital Hill that caused Wells Fargo’s embattled CEO and Chairman, John Stumpf, to tender his resignation, effective immediately, on Wednesday evening. Last month, when we first reported on millions of fraudulent accounts opened at…
Partner With Your Bank, CU to Lower Fees
We have been reporting extensively on the financial disadvantage some people find themselves in when they opt-in to overdraft protection on debit card and ATM transactions. Now we’d like to discuss how to avoid those pitfalls. As we said last…
What to Expect From Janet Yellen
Janet Yellen was confirmed on Monday by a vote of 56 to 26 to be the next chairman of the Federal Reserve. Her term as the first women to head the 100 year old institution will begin on February 1st.…
2013: The Year in Retrospect
January brought with it the expiration of the Transaction Account Guaranty Program (TAG). TAG added unlimited insurance coverage to “noninterest-bearing transaction accounts” (like checking accounts) regardless of the balance of the account. As of January 1, 2013, deposits are subject to…
The Taper Heard Round the World
The stock market hit a new high and the dollar climbed against a number of foreign currencies, all because Federal Reserve Chief Ben Bernanke signaled a change to its massive bond buying practice. Beginning in January, the FOMC will only…
Cost of Thanksgiving Dinner
Your wallet may indicate otherwise, but according to the American Farm Bureau Federation, for the first time since 2009 and only the second time in the past decade, the cost of feeding a family of ten a “traditional” Thanksgiving dinner…