Dedicated to Deposits: Deals, Data, and Discussion
Back to Main Forum Page

Search Results

Show results as: Threads | Posts
Thursday, April 24, 2014 - 9:17 AM
For Bank Customers, Waiting Is The Hardest Part
Bank customers face high fees, low savings rates and fewer bank branches — but cooling their heels is what really drives them crazy.

For Bank Customers, Waiting Is the Hardest Part | Save | Get the best rates on mortgage, home equity loans, CD, money markets and checking accounts | BankingMyWay
ShorebreakShorebreak2,381 posts since
Apr 6, 2010
Rep Points: 12,717
Wednesday, April 23, 2014 - 8:48 PM
Irvine Bank To Buy Popular Branches
Banc of California
Banc of California, a growing community bank in Irvine, is doubling its footprint in Southern California as it joins a new wave of smaller California banks pushing to expand into regional players in the aftermath of the financial crisis and the Great Recession. Banc of California said Wednesday that it agreed to buy 20 Popular Community Bank branches from struggling Popular Inc. in Puerto Rico, adding them to its 18 branches from Los Angeles to San Diego.

Irvine bank to buy Popular branches - latimes.com

ShorebreakShorebreak2,381 posts since
Apr 6, 2010
Rep Points: 12,717
Wednesday, April 23, 2014 - 12:38 PM
Study Says Savers Have Lost $758 Billion Due To Fed Low Rates
A study by MoneyRates.com released yesterday show that savers have lost $758 billion due to the Fed's low rate policy in the past five years.

Fed's low-interest-rate policies cost savers $758 billion, study says - latimes.com
me1004me1004346 posts since
Jan 16, 2010
Rep Points: 2,373
Wednesday, April 23, 2014 - 7:59 AM
IRS Paid Bonuses To 1,100 Who Owe Back Taxes
The Internal Revenue Service has paid more than $2.8 million in bonuses to employees with recent disciplinary problems, including $1 million to workers who owed back taxes, a government investigator said Tuesday.

IRS Paid Bonuses to 1,100 Who Owe Back Taxes - NBC News
ShorebreakShorebreak2,381 posts since
Apr 6, 2010
Rep Points: 12,717
Wednesday, April 23, 2014 - 12:31 AM
Asian American Banks Among Best Rated Stock Buys
Asian American banks are reported to be bucking the trend and booming, with two of the biggest in Los Angeles -- Korean American BBCN Bankcorp and Chinese American Cathay General Corp. -- in the top pack for the best bank stock buys nationally as rated by financial analysts. 

Two L.A. Asian American banks near top of national stock ratings - latimes.com

BBCN today reported net income had risen 27% and loans were up 35% in the last quarter as compared to a year earlier.

Also well rated was Korean American PacWest Bankcorp. Other Los Angeles area Asian American banks also have been reporting hihger profits, including East West Bankcorp, the largest Chinese American bank. 
me1004me1004346 posts since
Jan 16, 2010
Rep Points: 2,373
Tuesday, April 22, 2014 - 9:05 PM
Discover Bank Cash Back Checking Getting Worse
Discover Bank
Got is private message from Discover Bank today. It appears they are going away from adding our 10 cents per transaction every month and only allowing us to cash in when we accumulate $20 worth.That's 200 transactions. I only use it 4-6 times per month which means  over 3 years before I can cash in.Im not sure it worth bothering with so Im considering closing the account.I did get the $50 opening bonus and the 10 cents per since the account has been opened.I guess I might shoot them an email telling them Im considering closing my account because of it.It doesn't appear to be account specific although I did have to log into my account to read it.That is, I haven't been abusing it in any way. I mostly just use the card when shopping at Aldi or the dollar store.---------------------Thank you for choosing a Discover Cashback CheckingSM account. We will be making some changes on July 1, 2014 that will make it easier to track your rewards activity in your Cashback Checking account.-  Your Checking Cashback Bonus rewards earned starting July 1, 2014 will now be separate from your Discover Card Cashback Bonus. To combine rewards, you will be able to transfer your Checking Cashback Bonus to your Discover Card Cashback Bonus in increments of $20. Any rewards earned prior to July 1, 2014 will remain in your Discover Card Cashback Bonus Account.-  You will be able to access your Checking Cashback Bonus balance and activity, as well as redeem or transfer your rewards online at DiscoverBank.com.-  A summary of your rewards activity will also be included on your monthly Cashback Checking statement.-  You may earn Checking Cashback Bonus rewards for debit card purchases, Online Bill Pay transactions initiated at DiscoverBank.com and checks up to 100 transactions per month.-  At DiscoverBank.com, you may redeem your Checking Cashback Bonus for:
•  Cash in the form of a credit to your Cashback Checking Account – in $20 increments.
•  A transfer to a Discover Credit Card Cashback Bonus – in $20 increments.Effective July 1, 2014, Section 12 of the Deposit Account Agreement will be replaced by the below language:(12) CHECKING REWARDS AND INCENTIVESYou may earn Checking Cashback Bonus rewards based on qualifying activity in your Cashback Checking Account. Eligible customers will earn Checking Cashback Bonus rewards of $0.10 for: (i) each debit card POS purchase transaction, (ii) each check written, or (iii) each Online Bill Pay transaction that is initiated in the Discover Bank Account Center and successfully completed. Eligible customers can earn Checking Cashback Bonus rewards on up to 100 transactions, in any combination of the above, per calendar month.Rewards will typically be posted to your Checking Cashback Bonus account the Business Day following your statement end date. Account must be open when rewards are posted.You may redeem your Checking Cashback Bonus on DiscoverBank.com. You may redeem your Checking Cashback Bonus for:
•  Cash in the form of a credit to your Cashback Checking Account – – in $20 increments.
•  A transfer to a Discover Credit Card Cashback Bonus – in $20 increments. Once rewards have been transferred to a Discover Credit Card Cashback Bonus account, they will be governed by the Discover Card Cashback Bonus Terms and Conditions and the rewards cannot be transferred back to the Checking Cashback Bonus account; and/or
•  Other redemption options advertised on Discoverbank.com from time to time.Please note that you may only redeem your Checking Cashback Bonus if your Checking Account is open with a $0 or positive balance. For full details about redemption methods and amounts, visit DiscoverBank.com.Rewards do not expire, but if your Checking Account is closed for any reason, any Checking Cashback Bonus will be forfeited. In the unfortunate event your debit card or account number is lost or stolen, or we issue you a new account number for any other reason, we will transfer your Checking Cashback Bonus to your new Account.We may adjust the amount of the reward due to irregular, unauthorized or fraudulent activity in the Checking Account. We may offer additional incentives for establishing a Checking Account and/or maintaining one with certain types of activity.Sincerely,Discover Bank Customer Service
RJMRJM72 posts since
Jan 21, 2011
Rep Points: 395
AllyAlly786 posts since
Jan 16, 2010
Rep Points: 2,283
Tuesday, April 22, 2014 - 6:38 AM
The Potential Bubble The Federal Reserve Cares Most About
Today, as interest rates remain at historically low levels and are expected to stay low at least into next year, there is growing concern among investors, economists and central bankers that a new bubble has emerged, and that increased regulation isn’t enough to stop it. Led by a powerful Fed governor, there’s a growing call for the Federal Reserve to raise interest rates to prevent this bubble from growing. So what bubble are we talking about? It’s not the one you might expect.

The Potential Bubble the Federal Reserve Cares Most About | FiveThirtyEight
ShorebreakShorebreak2,381 posts since
Apr 6, 2010
Rep Points: 12,717
Monday, April 21, 2014 - 4:47 PM
Receive $150 When You Open A Free Checking Account
Texas Dow Employees Credit Union
Per the linked offer page "Open a new TDECU personal checking account with recurring direct deposit and you'll receive $150." 

Nice deal for those living in one of the the qualifying zip codes... https://www.tdecu.org/images/stor...2192014.pd
jholsombeckjholsombeck5 posts since
Feb 11, 2014
Rep Points: 13
Monday, April 21, 2014 - 4:23 PM
Barclays To Sell Its Commodities Trading To Focus On Banking Arm
Barclays Bank Delaware
Barclays is to announce on Tuesday that it is pulling out of commodities trading as its boss Antony Jenkins attempts to focus the investment banking arm on its most profitable and least controversial areas. Just days before Jenkins faces a storm of protests about bonuses at the bank's annual general meeting, Barclays will tell staff in its commodities arm that large parts of the operation are to be shut down or sold off.

Barclays to sell its commodities trading to focus on banking arm | Business | The Guardian
ShorebreakShorebreak2,381 posts since
Apr 6, 2010
Rep Points: 12,717
AllyAlly786 posts since
Jan 16, 2010
Rep Points: 2,283
Saturday, April 19, 2014 - 8:55 PM
California Customers Hit With Expensive Del Taco Bill
Why I pay cash...

What was supposed to be a cheap bite at Del Taco turned out to be small fortune for some Southern California customers. About 150 people who ordered this week at the Mexican-style fast food chain in Santa Paula, 65 miles northwest of Los Angeles, were mistakenly charged thousands of dollars for burritos, tacos and soft drinks.

Calif. Customers Hit With Expensive Del Taco Bill - ABC News
ShorebreakShorebreak2,381 posts since
Apr 6, 2010
Rep Points: 12,717
Saturday, April 19, 2014 - 1:26 PM
SS Will No Longer Forward Mail.
Change your address when you move with each place you do business with as well as the with the post office. As people discard land lines and opt out of information of where you live on sites on the internet it may be hard to find you. 
Social Security will stop forwarding letters | BenefitsPro 
Elaine MarooneyElaine Marooney1 posts since
Apr 19, 2014
Rep Points: 5
AllyAlly786 posts since
Jan 16, 2010
Rep Points: 2,283
Saturday, April 19, 2014 - 8:04 AM
How a Certificate of Deposit Can Help You Finally Save Up for a Home
One of the biggest hurdles to buying a home is getting that 20 percent down payment saved up. It’s a huge sum of money, though admittedly a huge accomplishment when you have enough cash stashed away to finally buy a house.  Fortunately, there’s a very simple solution, and it comes in the form of a certificate of deposit.

Best Way to Save for a House: Use a Certificate of Deposit

ShorebreakShorebreak2,381 posts since
Apr 6, 2010
Rep Points: 12,717
Saturday, April 19, 2014 - 7:18 AM
Value Of The New Floating-Rate Notes (FRNs) From The Treasury
From the WSJ
In January, the U.S. Treasury began issuing floating-rate notes or FRNs, the first major innovation in U.S. debt since inflation-protected securities were introduced in 1997.

This new investment isn’t a bonanza, but it should enable some investors to earn a little more on their cash.

Read more
As mentioned in the article, top CDs are a better deal for most savers (Nice to see the WSJ columnist mention me and DA!).
Ken TuminKen Tumin5,442 posts since
Nov 29, 2009
Rep Points: 123,754
Saturday, April 19, 2014 - 6:56 AM
Stress-Test Your Retirement Portfolio
From MarketWatch.com:

http://www.marketwatch.com/story/stress-test-your-retirement-portfolio-2014-04-19?pagenumber=1

"The portfolio crash test “tells you what might happen [to your portfolio] under certain scenarios and it will tell you which parts of the portfolio are exposed to each scenario,” Satchkov said."

"How you mitigate the stress points is largely a matter of personal preference; it’s a function of how much risk you are willing and able to bear based on the financial situation."

I think that this is a worthwhile excercise, like a worst-case planning.  It should begin with an honest risk tolerance assessment.  Then the fundamental asset allocation (i.e., how much equity/fixed income).  Then to dynamically adapt your portfolio according to the anticipated stress events.
51hh51hh1,462 posts since
Jan 16, 2010
Rep Points: 6,352
Friday, April 18, 2014 - 8:14 AM
Customers Say They Care About Bank Fees, But Don't Show It
Banking customers may not be as aggressive as they think about avoiding fees. "It's surprising how little attention consumers are paying to their banking account at a time when we're being hit with an endless barrage of fees," says Gabe Krajicek, chief executive at Kasasa, an Austin Texas checking and savings account services provider.

Customers Say They Care About Bank Fees, but Don't Show It | Save | Get the best rates on mortgage, home equity loans, CD, money markets and checking accounts | BankingMyWay
ShorebreakShorebreak2,381 posts since
Apr 6, 2010
Rep Points: 12,717
Friday, April 18, 2014 - 8:09 AM
4 Banking Trends To Expect In The Next Decade
Considering the staggering changes in banking we’ve experienced over the last decade, it’s safe to say predicting what will happen next is like trying to guess who is going to win the World Series. We can make some educated guesses, but — to really hammer the metaphor home — there’s always a chance a curve ball is thrown our way. That said, a number of banking industry trends have emerged that say a lot about where the industry is going. And understanding where it’s headed can help better shape your finances today.

4 Banking Industry Trends Shaping the Future of Banks
ShorebreakShorebreak2,381 posts since
Apr 6, 2010
Rep Points: 12,717
AllyAlly786 posts since
Jan 16, 2010
Rep Points: 2,283
Thursday, April 17, 2014 - 12:11 PM
Out Of Ammo? The Eroding Power Of Central Banks
Since the financial crisis, central banks have slashed interest rates, purchased vast quantities of sovereign bonds and bailed out banks. Now, though, their influence appears to be on the wane with measures producing paltry results. Do they still have control?
http://www.spiegel.de/internation...ng-a-964..
ShorebreakShorebreak2,381 posts since
Apr 6, 2010
Rep Points: 12,717
Wednesday, April 16, 2014 - 8:57 AM
Return On I Bonds Set To Jump This Spring
Here's a little glimmer of hope for savers: the return on inflation-adjusted savings bonds is going to increase significantly over the next six months. Based on the latest Consumer Price Index released today, the U.S. Treasury will set the total return on Series I Savings Bonds to at least 1.82% for all bonds sold between May 1 and Oct. 31. That yield is better than you can earn on most CDs or money market accounts.

Return on I Bonds set to jump this spring | Interest.com
ShorebreakShorebreak2,381 posts since
Apr 6, 2010
Rep Points: 12,717
Wednesday, April 16, 2014 - 8:49 AM
Fake Credit Union Swindles $12.8 Million From Investors
On Friday the SEC charged an Indianapolis man, Timothy J. Coughlin, 63, “with conducting an Internet offering fraud in which investors lost millions of dollars by investing funds in a fictitious credit union.” The fake credit union, named Oxford International Credit Union, was the front through which Coughlin allegedly collected funds from more than 5,000 investors from all 50 states and the District of Columbia.

SEC Says Fake Credit Union's Ponzi Scheme Stole 12.8M
ShorebreakShorebreak2,381 posts since
Apr 6, 2010
Rep Points: 12,717
Wednesday, April 16, 2014 - 2:25 AM
Amazing Customer Service!!
Barclays 5 stars (5 stars)
I had planned to move an expiring CD from Alliant CU to Barclays, but I couldn't log on to my Barclays account. (My computer had been slow and weird for a couple of days.)

I called Barclays customer service and the phone guy went way beyond "bank teller" and walked me through clearing the cache on my computer and doing diagnostics and fixed my computer!! I logged on to my account and quickly set up my new CD.

Kudos to Barclays for going above and beyond.
carlycarly24 posts since
Sep 2, 2011
Rep Points: 84
AllyAlly786 posts since
Jan 16, 2010
Rep Points: 2,283
Tuesday, April 15, 2014 - 4:33 PM
Heartbleed Makes 50M Android Phones Vulnerable, Data Shows
At least 4m Android smartphones in the US, and tens of millions worldwide, could be exploited by a version of the "Heartbleed" security flaw, data provided to the Guardian shows.   Worldwide, the figure could be 50m devices, based on Google's own announcement that any device running a specific variant of its "Jelly Bean" software – Android 4.1.1, released in July 2012 – is vulnerable.

Of the smartphones in use, only Android devices are vulnerable to this form of attack. Apple does not use the vulnerable version of OpenSSL on the iPhone or iPad, while Microsoft said that neither Windows Phone nor Windows is affected.

Heartbleed makes 50m Android phones vulnerable, data shows | Technology | theguardian.com


ShorebreakShorebreak2,381 posts since
Apr 6, 2010
Rep Points: 12,717
AllyAlly786 posts since
Jan 16, 2010
Rep Points: 2,283
Tuesday, April 15, 2014 - 9:37 AM
How Retirement Fees Are Straining The Middle Class And What We Can Do About Them
All retirement funds should have a clear, understandable label that provides consumers with relevant, concise, and accessible information about fees. Improved fee disclosure could help individuals make better financial decisions—especially since data show that higher-cost funds do not necessarily perform better—and could encourage firms to provide lower-cost options.

Fixing the Drain on Retirement Savings | Center for American Progress
ShorebreakShorebreak2,381 posts since
Apr 6, 2010
Rep Points: 12,717
AllyAlly786 posts since
Jan 16, 2010
Rep Points: 2,283
AllyAlly786 posts since
Jan 16, 2010
Rep Points: 2,283