OK, we've all seen the ads on TV for LendingTree (which, as I understand now owns this site). When Ken announced the acquisition, I assumed we'd shortly be seeing LendingTree launching a new platform which worked like LendingTree, only in reverse, so to speak. Rather than punching in the amount you wanted to borrow, you'd punch in the amount you wanted to lend. You could refine the search by term, account type, you name it. LendingTree could then use Ken's database, and who knows what else, to come up with competing deposit accounts.
Seasoned DA readers might say "why would I need that?" Answer, you wouldn't. That said, I suspect we DA readers assume the entire universe is aware of Ken's blog. The truth might be, well, maybe not.* In addition, disruption is what it's all about these days. Ken has been disrupting the way folks shopped for deposit accounts for over a decade. LendingTree could take that to another level.
OK, OK, I know many banks and credit unions could care less about competing for deposit accounts. But many still do. Let them compete.
*USAA Federal Savings Bank certainly is not. They touted their renewal rate on their 7-year IRA CD of 1.1% as "competitive". My eyes glazed over.
