Articles

Selected category: Banks

Will Donald Trump and Steven Mnuchin Make Small and Medium-Sized Financial Institutions More Competitive? Image Courtesy: Portland History

Will Donald Trump and Steven Mnuchin Make Small and Medium-Sized Financial Institutions More Competitive?

Over the next four years, small and medium-sized financial institutions will become more competitive with the larger ones due to less regulation.

Read →
3 Year LIBOR Index CD is another EverBank Product to Avoid in 2017 Image Courtesy: Yahoo!

3 Year LIBOR Index CD is another EverBank Product to Avoid in 2017

According to its website, EverBank is now offering a so-called 3 Year LIBOR Index CD.

The product, which is issued without a prospectus, appears from the information on EverBank’s website to be three years in duration, ye... Read →

EverBank’s 5 Year Marketsafe Treasury CD Is An Awful Investment Image Pool, EverBank Field, Courtesy Jacksonville Jaguars.

EverBank’s 5 Year Marketsafe Treasury CD Is An Awful Investment

EverBank is again offering what it calls a 5 Year Marketsafe Treasury CD. This product should be avoided at all costs.

Read →

Chase Does Tremendous Damage to their User Interface

Until a couple of days ago, Chase had the best user interface of any bank. They instantly - and without notice - changed it to one of the worst.

Read →
Do You Have to Pay Taxes on Bank Interest? Image Stuart Miles at FreeDigitalPhotos.net

Do You Have to Pay Taxes on Bank Interest?

A common question we receive at BestCashCow is whether a holder of a savings or CD from a bank needs to pay taxes on the interest generated from those accounts. The short answer is: yes.  Interest from FDIC insured accounts (savings... Read →

JP Morgan Chase Comes to Market with A 7.50% Structured Note Image Stuart Miles at FreeDigitalPhotos.net

JP Morgan Chase Comes to Market with A 7.50% Structured Note

JP Morgan Chase has come to market with the highest yielding 15 year structured note that we have seen in some time. This offering is consistent with the 10 year Treasuries testing of 3.00%, the early stages of some slope to the yield curve, and the increasing governmental scrutiny facing the Jamie Diamond-run's banking behemoth.

Read →
As Long Treasuries Rise, JP Morgan Chase Issues A Structured Notes With a 6.50% Offer Image africa at FreeDigitalPhotos.net

As Long Treasuries Rise, JP Morgan Chase Issues A Structured Notes With a 6.50% Offer

JP Morgan Chase, like Morgan Stanley and Citibank, had exited the structured note market about a year ago when long bonds rates fell so low that structured notes could no longer be structured. Today, they returned to the market today with a new 6.50% structured note.

Read →
Can You Negotiate Savings Rates With Your Bank? Image Ambro at FreeDigitalPhotos.net

Can You Negotiate Savings Rates With Your Bank?

They say everything in life is negotiable. So, with that in mind, I decided to see just how far I could get trying to negotiate a better rate at the bank. 

To start, I had some money that I wanted to keep safe over the nex... Read →

Top 10 Least Safe States to Bank Image cooldesign at FreeDigitalPhotos.net

Top 10 Least Safe States to Bank

BestCashCow released its list of the Top 10 Least Safe States to Bank. See if your state made the list and what you should do if it has.

Read →
Top 10 Safest States to Bank Image cooldesign at FreeDigitalPhotos.ne

Top 10 Safest States to Bank

BestCashCow released its list of the Top 10 Safest States to Bank. Check and see if your state is on the list.

Read →
Bank Direct Effectively Ends American Airmiles Program Image njaj at FreeDigitalPhotos.net

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.

Read →
Savings and CD Rate Update - April 22, 2013 Image Stuart Miles at FreeDigitalPhotos.net

Savings and CD Rate Update - April 22, 2013

Top national CD rate at 1.85% APY. Top national savings rate at 1.05% APY. Averages continue to decline. Economic indicators point to further declines.

Read →
Savings and CD Rate Update - April 8, 2013 Image fantasista at FreeDigitalPhotos.net

Savings and CD Rate Update - April 8, 2013

Top nationally available CD rate stable at 1.85% APY. Top online savings rate at 1.05% APY. Average rates continue gentle decline.

Read →
Savings and CD Rate Update - April 1, 2013 Image fantasista at FreeDigitalPhotos.net

Savings and CD Rate Update - April 1, 2013

Top CD Rate of 1.85% APY. Top online savings rate of 1.05% APY. Average bank rates continue decline. Is the U.S. economy headed for a crash and how you can protect your cash.

Read →
Cypress Could Happen in the US; Actually It Happens All the Time Image franky242 at FreeDigitalPhotos.net

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.

Read →