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E-Trade reports quarterly net loss of $67 million [MarketWatch]

Wednesday, January 27, 2010 - 7:26 PME*TRADE Bank
MarketWatch article reports on ETrade's Q4 results. ETrade Bank continues to lose money. Here's an excerpt:
E-Trade built a banking business too and this part of the company has suffered as the housing crisis left it with big mortgage-related losses. E-Trade is now trying to shrink its banking business to focus on its main brokerage unit.
This explains why ETrade Bank has been only paying 0.50% on its Complete Savings Account. It's a shame since ETrade Bank has some of the best ACH transfer features.
Ken TuminKen Tumin5,471 posts since
Nov 29, 2009
Rep Points: 125,634