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Bank Direct Effectively Ends American Airmiles Program
In a May 1, 2013 letter to depositors, Bank Direct has announced changes on June 1 to the American Airmiles Mileage Checking with Interest Program. The changes will render the program worth much less to most depositors.
Posted on May 04,2013 by
Cypress Could Happen in the US; Actually It Happens All the Time
Today's news from the EU is that Brussels determined that the Bank of Cypress should be reorganized in a manner leaving its depositors with losses of up to 30% of their deposits over insured amounts, and that the Laiki Bank should be "resolved" in a manner leaving its depositors with losses of up to 70% of deposits over insured amounts. Cypriot law had insured depositors to a Euro 100,000 level so the burden is falling largely on those depositors more wealthy than the average Cypriot, including wealthy and near-wealthy Russians who by many accounts now provide more than half of the deposits to Cypriot banks.
Posted on March 25,2013 by
GE Capital Launches New Online Bank
GE Capital is the newest entrant into online banking, having completed the acquisition of MetLife Bank's online bank and merged it into its retail bank on January 14, 2012.
Posted on January 21,2013 by
TIAA-CREF Launches Online Bank with 1.25% APY Rate
TIAA-CREF Trust Company has launched an online bank offering 1.25% APY rate.
Posted on July 16,2012 by
BankDirect: With Rates So Low, Should You Opt for American Airlines Airmiles?
BankDirect's Mileage Checking with Interest program is especially interesting in the current low rate environment, but will not work for everyone.
Posted on March 12,2012 by
Citibank and Chase Going Ga-Ga with Airline Frequent Flier Miles to Extend Credit to Consumers
Less than a year ago many US consumer finance pundits like Suzie Orman and Dave Ramsey were suggesting that your opportunity to get free airline miles for opening a credit card would be ending soon. These pundits believed that banks that were giving out 25,000 miles for opening a credit card were spending much more than they could afford for the pleasure of giving consumers unsecured credit. It seemed the perks were a last vestige of the credit bubble waiting to be eliminated or at least cut back dramatically. They were not.
Posted on August 15,2011 by
Banks and Brokerages Still Rolling out Bonuses and Rewards for Opening Accounts
Banks have often rolled out the red carpet and offered incentives to try to attract new money. Even in this age of extremely low interest rates banks and brokerages are still offering rewards to get a hold of your cash.
Posted on April 05,2011 by
Senator Dick Durbin Argues that Credit and Debit Card Markets Are a Monopoly and Government Intervention is Required
Illinois Senator Dick Durban makes the argument that excessive fees for accepting credit cards and debit cards are impairing Small Businesses as well as consumers to the benefit of the country's largest banks.
Posted on March 28,2011 by

Ari Socolow

Ari Socolow
Bio: Ari Socolow is the Editor-in-Chief of BestCashCow. He is a technology entrepreneur and a former investment banker and attorney. Ari is particularly interested in issues relating to financial literacy and bank transparency. He founded BestCashCow to help Americans of all ages secure their financial future. BestCashCow offers information on local and national savings, checking and CD products, as well as mortgage and credit products, so that consumers can easily identify the most appropriate products for their needs.

Ari holds an MBA from Columbia, a JD from Emory and a BA from Tufts.

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Understanding the Time Value of Money
Posted on April 10,2013

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