Archive for September, 2009
Account Reviews: Alliant Credit Union’s 2.00% APY High-Yield Savings Account
Alliant, a Chicago based credit union, is offering a 2.00% APY high-yield savings account nationwide. The account has a $5.00 minimum balance and no maximum balance limit. Customers can access to their funds from ATMs in the CO-OP Network and the Alliance One ATM network without paying any surcharges. Alliant Credit Union offers free ACH [...]
International Peer to Peer Lending Firm, Zopa, Delays Re-Launch in Italy
Italian P2P Lender, Zopa Italia, announced that their new site will not relaunch until at least October. Zopa has been working on establishing sub-accounts for lenders as a part of an agreement with the Bank of Italy, and is pushing out their re-launch date out now that they have acquired additional details about the technical [...]
Jim Rogers Says Bank Regulators Should be in Jail For Not Allowing Banks to Fail
There is a lot to say on the consequences of the policies of the regulators and the Federal Reserve from outrageous and irresponsible bailouts of big banks and some big businesses, and we’ll continue to talk about and expose that at American Banking News. But Jim Rogers gets to a very simple core principle of [...]
Account Reviews: ShoreBank’s 2.15% APY Direct Online Savings Account
Chicago-based ShoreBank is offering a 2.15% APY online savings account under the heading of “Direct Online Savings.” New customers only have to make a $1.00 deposit to open an account and earn the top yield. This account does not provide for an ATM card or provide checks. The application is processed entirely online and allows [...]
Account Reviews: E*TRADE Bank’s 0.60% Complete Savings Account
UPDATE 10/5/2009: E*TRADE has dropped their interest rates to 0.50% APY. E*TRADE is offering a 0.60% APY online savings account through its E*TRADE Bank division. E*Trade’s online savings account requires a $1.00 minimum deposit to open an account. The account boasts no minimums or fees. Customers opening a new account will not get hit with [...]
Personal Finance Software Maker Mint Acquired by Intuit
Mint and Intuit have announced today that Intuit will purchase the free online personal financial management service, Mint.com, for approximately $170 million. The rumors were first reported by Silicon Alley Insider and the deal was officially announced Monday afternoon after it had been widely leaked. Mint.com’s CEO, Aaron Patzer, confirmed the deal on-stage at Tech [...]
Editorial: Why did Prosper.com Obfuscate its Investment Performance?
If you would have visited Prosper’s website a week ago, you would have clearly seen the rate of return that its investors are receiving on its homepage. Both Prosper and Lending Club had their average interest rates listed directly on their homepages. Prosper is now only providing their potential lenders an “estimated” rate of return [...]
Peer-to-Peer Lending Company, Prosper.com, Welcomes Lenders in Florida
Prosper.com, one of the first companies to successfully develop a peer-to-peer lending marketplace in the United States, has announced today that they will now allow lenders from the state of Florida to participate in their site. Peer to Peer lending sites such as Prosper and Lending Club have unique laws when it comes to collections [...]
Nobel Prize-winning Economist Says Government Not Fixing Right Banking Problems
According to Nobel Prize- winning economist Joseph Stiglitz, the problems connected to the banking and financial industry are now worse than they were before the U.S. government intervened to prop up the poorly run banks. In an interview in Paris, Stiglitz said, “In the U.S. and many other countries, the too-big-to-fail banks have become even [...]
Judge Denies $33 Million Settlement between SEC and BofA
In what is a surprise move to me, Federal District Judge Jed S. Rakoff set a trial date of February 1 after denying a proposed settlement between the SEC and Bank of America (NYSE:BAC) of $33 million, in which both parties agreed to. I never thought this would go to trial because of the potential [...]
How to Diversify Your Investment Portfolio with Peer-to-Peer Loans
Many have discovered that they were woefully unprepared for the financial crisis by being too heavily invested in certain investments. Now, investors are diversifying their funds by investing in new asset classes such as by making peer-to-peer loans through Prosper and Lending Club. Traditionally, investors hoping to build wealth for the long term use a [...]
Account Reviews: Tennessee Commerce Bank’s 2.30% APY High-Yield Savings Account
Tennessee Commerce Bank is offering a high-yield savings account with the astonishingly high interest rate of 2.30% APY in a market where the Federal Reserve’s target rate is between 0% and 0.25%. The 2.30% APY rate is good on balances up to $100,000. After the 100k mark, the rate falls to 1.50% APY. The high [...]
Account Reviews: Grand Yield Direct’s 1.50% APY Online Savings Account
Apple Bank for Savings is offering a 1.50% APY high-yield savings account under the banner of “Grand Yield Direct.” The account has a minimum balance of $1.00 and the full interest rate of 1.50% APY is paid on all balances. There account has no monthly service charges. Customers can deposit money via linked external accounts [...]
Obama Expected To Push Regulatory Reform On Wall Street Monday
President Barack Obama will speak in New York on Monday, addressing the government’s role in the financial markets and pushing for regulatory reform on Wall Street. Since the near financial collapse last fall financial regulations remain the same and though much talk about changing rules for the financial markets has been made, no policy has [...]
Dolphins Owner Ross Looks To Acquire Failed Bank, Receives Approval For SJB National
Federal Regulators have issued a preliminary approval of a shelf charter for SJB National Bank, which is led by Miami Dolphins owner and CEO of Related Cos., Stephen M. Ross. The move paves the way for Ross and his partners to acquire a failed bank from the Federal Deposit Insurance Corporation should it so desire. [...]
worst video player ever- after over2:00 there's still no video appearing 