featured bank review

EverBank Yield Pledge Money Market Account

If any bank products out there interests me these days, it’s the EverBank’s Yield Pledge Money Market Account. I’ve been searching for the best place to put my short term savings, and this money market account seems to fit perfectly as it offers high interest rates, flexibility and convenience. Below are more of my findings [...]

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Banks Trims Emergency Borrowing from the Fed

Here’s some good news. The banking sector has decreased its borrowing from the emergency fed fund window for the third straight week. On the week ended August 19, it sat at $30.7 billion. Now, it’s $30 billion. As you recall, this window is for financial institutions that cannot get short term loans anywhere else, and [...]

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Is the Recession Over

It seems like so long ago when we started this recession that proved to be deeper than anything most of us have seen in our lifetime. The biggest insurers were in trouble. One of the biggest investment banks in the world were left to go bankrupt and the biggest banks were being drained of its [...]

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Citi Exec Wants Tax Payers to Pay Him $100M

Andrew J. Hall, the leader of Citigroup’s Phibro energy trading unit is going to push the administration’s limits on pay package tolerance. The original agreement for this top executive is a hefty $100 million compensation package that includes cash, stocks and other benefits. Although Hall’s unit generates a substantial part of Citigroup’s profit, $100 million [...]

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Wells Fargo Saved by Wachovia

And we all thought Wachovia is killing Wells Fargo. In the last quarter, Wells Fargo would’ve been trashed if it wasn’t for Wachovia’s side of revenue and earnings to help offset credit losses. Year over year, Wells Fargo quarterly earnings rose 47% even amid increasing credit losses. Since December 31, Wells Fargo have been expanding [...]

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Goldman Sachs Reports Record Profits… What’s New?

Goldman Sachs earned $2.7 billion, or $4.93 a share in the quarter just reported. Woah. This easily blows by analyst estimates of $3.49 a share, but what’s new? Goldman always have record profits no matter what you do. The funny thing is that this time, they are making it off taxpayers dollars. They wanted to [...]

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Citigroup Changes Management Again

Citigroup’s management is changing, again. Citigroup said today that its former CFO and current chairman, Gary Crittenden, is leaving the company. With the bank being the mostly bruised bank out of the credit crisis, it’s funny that it’s not Vikram Pandit, the CEO that’s leaving. So far, Citigroup has already received $45 billion in government [...]

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Highest CD Rates

Highest CD rates are surprisingly not what everyone looks for even though we obviously get more money with a higher CD rate.  Below are some of the better known banks that offer CDs so while having very high interest rates, we also get the comfort that our money is in good hands. Also to note, [...]

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FDIC Takes Over Seven More Bank Failures

Just when you thought the banks are getting better. Regulators shut down another seven banks with a total of $1.5 billion in assets. The failed banks count stand at 52 already and July just started! To make matters worst, everyone continues to predict further downfalls as unemployment will cause additional loan defaults in both residential [...]

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EverBank Increases Interest Rates

EverBank is the first company in recent memory to actually increase interest rates on its bank products. Effective immediately, the rates of EverBank money market and freenet checking accounts are going up. This means that: EverBank Yield Pledge Money Market Account (new account rate): 3.01% Intro Rate 2.15% thereafter for balances under $50,000 (current accounts: [...]

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The Fed’s Emergency Lending Programs Scales Back

The Fed is finally starting its engine on the exit strategy of all the emergency programs it created late last year, during the height of the financial crisis. However, don’t think that all is going to end quickly. The Fed is moving very cautiously in reducing and closing down these programs. For example, one of [...]

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