Learn more about Canada’s top banks rates, rules and the latest news – read on!
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 »
Review: MBNA Platinum Plus MasterCard® Jul 6th
Tired of paying sky-high interest on your credit card balance? Here’s a way to take a break – for an entire year! The MBNA Platinum Plus MasterCard® credit card is our Best of Finance 2015 winner for best low balance transfer credit card. It offers a 0% rate for 12 months on balances moved ove.... More »
New rules proposed to put an end 'too big to fail' banks + MORE Nov 10th
Global regulators on Monday proposed new rules to ensure that bank creditors rather than taxpayers pick up the bill when a big lender collapses..... More »
From City to Suburb + MORE Jul 3rd
Shrinking home affordability has topped Canadian housing headlines for weeks running – and it’s no surprise, as prices in urban centres push past the $1-million mark. In fact, according to our recent poll, 83% of millennial home buyers feel that it’s less affordable to buy in today’s ma.... More »
The Best of MoneyWise 2014: Your Favourite Headlines Dec 31st
2014 has come and gone – what affected your bottom line this year? From navigating Canada’s steep housing market, to picking the perfect credit card, to trimming fees off everyday banking, readers turned to MoneyWise for expert advice and news – and we’re so glad you did!
To celebra.... More »
Regulators take over banks in Virginia and Pennsylvania; brings US bank failures to 5 in 2014
– canadianbusiness.com
WASHINGTON – Regulators have closed small lenders in Virginia and Pennsylvania, bringing U.S. bank failures this year to five after 24 closures in 2013.
The Federal Deposit Insurance Corp. said Friday that it has taken over Millennium Bank, N.A., based in Sterling, Va., and closed the single branch of Vantage Point Bank in Horsham, Pa.
Millennium Bank, which operated two branches, had $130.3 million in assets and $121.7 million in deposits as of Dec. 31. WashingtonFirst Bank, based in Reston, Va., has agreed to assume its deposits and buy its assets.
First Choice Bank, based in Mercerville, N.J., will assume Vantage Point Bank’s $62.5 million in deposits and its $63.5 million in assets.
The two bank failures are expected to cost the deposit insurance fund $16.2 million.
U.S. bank failures have been declining since they peaked in 2010 in the wake of the financial crisis and the Great Recession.
Only three banks went under in 2007. That jumped to 25 in 2008, after the financial meltdown, and ballooned to 140 in 2009…
The Federal Deposit Insurance Corp. said Friday that it has taken over Millennium Bank, N.A., based in Sterling, Va., and closed the single branch of Vantage Point Bank in Horsham, Pa.
Millennium Bank, which operated two branches, had $130.3 million in assets and $121.7 million in deposits as of Dec. 31. WashingtonFirst Bank, based in Reston, Va., has agreed to assume its deposits and buy its assets.
First Choice Bank, based in Mercerville, N.J., will assume Vantage Point Bank’s $62.5 million in deposits and its $63.5 million in assets.
The two bank failures are expected to cost the deposit insurance fund $16.2 million.
U.S. bank failures have been declining since they peaked in 2010 in the wake of the financial crisis and the Great Recession.
Only three banks went under in 2007. That jumped to 25 in 2008, after the financial meltdown, and ballooned to 140 in 2009…
