Canada has several major banks and many schedule II banks – but with rates and plans all over the map, it’s difficult to know where to bring your business. Our aim is to help you navigate Canada’s banking options to discover which one suits your needs best.
Latest News
Are You Retirement-Ready? + MORE Jan 29th
RRSP season is upon us, and banks are laying on the pressure to save – are you putting enough cash away? Many Canadians, especially young adults, aren’t entirely clear on how they should be saving for retirement – and we spoke to a few of them to see how they really feel (check out ou.... More »
Italian banks in focus as Europe shrugs off Brexit – for now + MORE Jul 27th
MILAN – About a month on from Britain’s vote to leave the European Union, there’s little evidence that economic activity across the continent has been derailed yet.
That’s some reassurance for the 19-country eurozone as it faces a host of other problems, many of which relate .... More »
NADA: Used-car prices for newer models likely to drop this year; 5 to 8 year old cars stable Jan 25th
NEW ORLEANS – Boosted by rising employment, home values and housing construction, Americans will buy 16.4 million new cars and light trucks this year.
That’s the prediction from the National Automobile Dealers Association, which is meeting in New Orleans.
Economist Steve Szakaly (ZAK-uh-.... More »
The Seven Sins of Wall Street calls for change + MORE Sep 27th
With the financial crisis now in the rear-view mirror five years ago, it should be clear sailing for the giant U.S. banks that arguably created the problem, right?
Not according to veteran Bloomberg News editor and investigative reporter Bob Ivry. In his recently published book, The Seven Sins of W.... More »
EQ Bank Review: The Best Place to Save Your Money? Feb 18th
It’s been a few short years since EQ Bank emerged onto the landscape of Canadian online banks. But while they may seem like the new kid on the block, their roots run much deeper.
Who Owns EQ Bank?
EQ Bank is brought to you by Equitable Bank, which has been providing residential and commercial lend.... More »
Citigroup paying $395 million to Freddie Mac to settle claims on soured mortgages
– canadianbusiness.com
WASHINGTON – Citigroup Inc. has agreed to pay $395 million to Freddie Mac to settle claims on home loans it sold to the government-controlled mortgage finance company.
The agreement announced Wednesday involves 3.7 million mortgages sold between 2000 and 2012. Freddie and its bigger sibling Fannie Mae pressed Citigroup and other big banks to take back mortgages they sold, which soured in the housing bust. In July, Citigroup agreed to pay $968 million to settle similar claims from Fannie.
Bank of America paid $2.6 billion in 2011 to settle claims on home loans sold to Fannie and Freddie.
Citigroup says the agreement marks an important milestone in resolving its mortgage issues stemming from the 2008 financial crisis.
A Freddie spokesman says it is fair and allows both companies to move forward.
The post Citigroup paying $395 million to Freddie Mac to settle claims on soured mortgages appeared first on Canadian Business.
The agreement announced Wednesday involves 3.7 million mortgages sold between 2000 and 2012. Freddie and its bigger sibling Fannie Mae pressed Citigroup and other big banks to take back mortgages they sold, which soured in the housing bust. In July, Citigroup agreed to pay $968 million to settle similar claims from Fannie.
Bank of America paid $2.6 billion in 2011 to settle claims on home loans sold to Fannie and Freddie.
Citigroup says the agreement marks an important milestone in resolving its mortgage issues stemming from the 2008 financial crisis.
A Freddie spokesman says it is fair and allows both companies to move forward.
The post Citigroup paying $395 million to Freddie Mac to settle claims on soured mortgages appeared first on Canadian Business.
Big banks look for edge with new ad firms
– theglobeandmail.com
In the midst of tougher competition and high-tech media formats, Canada’s banks are moving toward new agencies
The largest European banks were 70.4 billion euros ($98 billion Cdn) short of meeting new capital ratios meant to prevent future bank failures at the end of 2012, according to the European Banking Authority.
