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
TSX tumbles 247 points despite big profits at big banks Feb 25th
Canada's benchmark stock index had its worst day of the year as oil prices moved lower and financial firms sold off, despite record earnings at some of Canada's biggest banks..... More »
Breaking down bank fees Jul 15th
The COVID-19 pandemic has hit a lot of Canadians hard—emotionally, physically and financially. So it isn’t surprising that many are calling out banks that raised their fees to consumers at a time when so many people are struggling. Given the number of banks that have also reported record profits.... More »
After a record run of profits, Canada’s Big Six banks brace for shift Nov 30th
Expectations for banks’ earnings encouraging, but focus has shifted to near future, where revenue growth will be tougher to generate
.... More »
Too many condos? More like not enough, CIBC says + MORE Nov 19th
Fears that Canada is building far more condominiums than it needs are overblown because of the hundreds of thousands of immigrants who are moving here in increasing numbers, one of Canada's biggest banks says..... More »
Canadian Fintech Companies You Should Know About + MORE Nov 16th
Financial technology companies are set to take over the banking industry and transform our lives within the next 10 years, according to a recent report by McKinsey & Co. But what will that transformation look like for Canadian consumers?
Like most disruptive technologies, the majority of the co.... More »
Regulators take over small bank in Oklahoma, the 2nd bank failure of 2014
– canadianbusiness.com
WASHINGTON – Regulators have closed a small lender in Oklahoma, the second U.S. bank failure of 2014.
The Federal Deposit Insurance Corp. said Friday that it has taken over The Bank of Union. BancFirst, based in Oklahoma City, has agreed to assume Bank of Union’s deposits and to buy $225.5 million of the failed bank’s assets.
Bank of Union has one branch in Oklahoma City and another one about 30 miles away in El Reno, Okla. It had $331.4 million in assets and $328.8 million in deposits as of Sept. 30.
The FDIC will keep the remaining assets to try to sell later.
The bank’s failure is expected to cost the deposit insurance fund $70 million.
U.S. bank failures have been declining since they peaked in 2010 in the wake of the financial crisis and the Great Recession.
In 2007, only three banks went under. That number jumped to 25 in 2008, after the financial meltdown, and ballooned to 140 in 2009.
In 2010, regulators seized 157 banks, the most in any year since the savings and loan crisis two decades ago…
The Federal Deposit Insurance Corp. said Friday that it has taken over The Bank of Union. BancFirst, based in Oklahoma City, has agreed to assume Bank of Union’s deposits and to buy $225.5 million of the failed bank’s assets.
Bank of Union has one branch in Oklahoma City and another one about 30 miles away in El Reno, Okla. It had $331.4 million in assets and $328.8 million in deposits as of Sept. 30.
The FDIC will keep the remaining assets to try to sell later.
The bank’s failure is expected to cost the deposit insurance fund $70 million.
U.S. bank failures have been declining since they peaked in 2010 in the wake of the financial crisis and the Great Recession.
In 2007, only three banks went under. That number jumped to 25 in 2008, after the financial meltdown, and ballooned to 140 in 2009.
In 2010, regulators seized 157 banks, the most in any year since the savings and loan crisis two decades ago…
And The Award Goes To…
– ratesupermarket.ca
Announcing the Best of Finance 2013! We are so proud to share this year’s rankings with you, which highlight finance products with the highest value. Read on for the winners in credit cards, mortgages, learning resources and more!
In other news, Canada’s housing market was thrust back into the spotlight this week, as news of lender mortgage rate cuts abounded and the Bank of Canada rolled out its latest interest rate announcement. It has many wondering if this winter is a prime time for jumping into the housing market – be sure to check out our coverage of the announcement below, as well as this week’s Mortgage Spotlight to get caught up.
Canadians To Cash In With Best Of Finance Awards
What credit card earns the greatest rewards? Are all bank accounts built alike? Many Canadians aren’t offered these answers when seeking out the best personal finance products for their needs, despite what they could be saving. To fill this knowledge gap, RateSupermarket.ca has unveiled the 2013 edition of the Best of Finance Awards, a ranking of the very best credit cards, mortgages, bank accounts and more…
Spotlight On Mortgages: Will The Rate Wars Start Early This Year?
– ratesupermarket.ca
It’s been a good week for mortgage shoppers seeking a discount – several of the big banks have chopped 10 basis points or more off their most popular fixed rate offerings. RBC led the pack, covertly discounting their five-year fixed rate to 3.69 over the weekend. Scotiabank and BMO soon followed, with TD being the latest lender to jump into the fray.
The banks are finally reacting to lower government of Canada bond yields, which have been sliding since the beginning of the month. This latest round of discounting has narrowed the gap between the larger lenders and discounted rates. For example, the lowest five-year fixed in Ontario currently sits at 3.19 per cent – just 50 basis points under RBC’s offer.
Is It Time To Lock In To Fixed Rate Mortgages?
So, should you jump into the housing market now, or wait for even better deals? While we can’t predict whether rates will slide slower, consider this: yields, which fixed rates are based on, are directly affected by global investor sentiment…
Spotlight On Mortgages: Will The Rate Wars Start Early This Year?
– ratesupermarket.ca
It’s been a good week for mortgage shoppers seeking a discount – several of the big banks have chopped 10 basis points or more off their most popular fixed rate offerings. RBC led the pack, covertly discounting their five-year fixed rate to 3.69 over the weekend. Scotiabank and BMO soon followed, with TD being the latest lender to jump into the fray.
The banks are finally reacting to lower government of Canada bond yields, which have been sliding since the beginning of the month. This latest round of discounting has narrowed the gap between the larger lenders and discounted rates. For example, the lowest five-year fixed in Ontario currently sits at 3.19 per cent – just 50 basis points under RBC’s offer.
Is It Time To Lock In To Fixed Rate Mortgages?
So, should you jump into the housing market now, or wait for even better deals? While we can’t predict whether rates will slide slower, consider this: yields, which fixed rates are based on, are directly affected by global investor sentiment…
