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Actually, it’s just a bit longer than a month. By August 15th, consumers are supposed to make a decision with their bank accounts as to whether they want overdraft protection or not. It’s something I originally wrote about in February, but since we’re close to the date I felt it was a good time to [...]
This is the 300th post of Top Finance Blog. It comes just beyond 18 months of ownership after taking it over from someone else who decided after a month that he didn’t have the time for it. I’ve been giving some consideration as to just where I believe this blog should go. I’ve written many [...]
On April 30th, 7 banks were closed, including 3 in Puerto Rico, bringing this year’s total for bank closures to 64. That’s a figure that we didn’t hit last year until August. Based on the speed we’ve been at so far, we could conceivably hit 190 banks or more closed by the end of the [...]
Well, I guess it had to happen eventually. After Citigroup finally posted its first profit in a very long time, the Treasury Department finally feels it’s time to shed itself of all that stock that they bought when Citigroup was in trouble. How much are we talking about? The government, which by extension means we [...]
I guess it had to happen eventually. Citigroup finally announced a quarterly profit after many quarters of massive losses. They reported a profit of $4.4 billion in the first quarter of this year, compared to a $670 million loss at the same time last year. Supposedly they’ve turned the corner because of trading of bonds [...]
Most of us remember that it seemed like the financial world came crumbling down the day Lehman Brothers announced that they were going into bankruptcy. I have to admit that, even though there were overall signs that something wasn’t right, this was the defining moment when I knew this country was in trouble. Ever since [...]
Everyone might not see it this way, but I think this is a pleasant surprise. Bank of America has taken the proactive step of saying that they’re eliminating overdraft fees on debit card purchases. Well, that’s kind of a misnomer, but it works for the moment. What they’re going to do if you use your [...]
