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.