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.
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At midday: TSX rises with commodities + MORE Oct 19th
Energy, banks push Wall Street higher, Intel limits gains
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It’s Time to Get Smart about Your Credit Oct 17th
October 17 is National Get Smart About Your Credit Day and there is no better time with the year end and holidays approaching, to sit down and review your finances. Whether you have debt or not, take this opportunity to evaluate how you manage your credit and where there could be room for improveme.... More »
TD, CIBC hoping to shrug off choppy first-quarter earnings - The Globe and Mail + MORE Mar 1st
TD, CIBC hoping to shrug off choppy first-quarter earnings The Globe and MailCredit quality is deteriorating in Canada, and banks are feeling the impact Financial PostTD misses profit estimates by wide margin, raises dividend BNNBloomberg.caFirst-quarter earnings for.... More »
The best GIC rates in Canada for August 2023 Aug 29th
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The best GIC rates in Canada for August 2023
Find the best GIC rates in Canada. Plus, everything you need to know about how they work.
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Can Santander take on Canada’s Big Six? Why the global bank may face hurdles + MORE Dec 18th
It’s not every day, or even every decade, that a big foreign bank decides to have a go at Canada’s retail banking market.
But Spain’s Banco Santander—which has already shown an ability to attract customers, with more than 168 million of them worldwide—is poised to be among the few that .... More »
MONTREAL – Consumers are increasing turning to leasing when acquiring a new car, but the availability of ultra-long loan terms means the days of almost half of drivers travelling the leasing route are gone, according to industry observers.
After slipping to a low of seven per cent in 2009, now about one in five cars in Canada, or 20 per cent, are leased. Still, that is well below the 45 per cent peak in 2005.
“If I had to predict it right now, I could see it creeping up into the mid-20 per cent range – so roughly half of where it was,” says Dennis DesRosiers, president of DesRosiers Automotive Consultants Inc.
Overall, Canadians prefer car ownership with about 13 per cent paying cash and two-thirds obtaining loans, he said.
Whereas U.S. consumers have used leasing mainly to flip their cars every three or four years, more than half of Canadians have traditionally bought out their leases and then switched to loans, he said in an interview.
Banks and car companies responded a few years ago by introducing 84- and 96-month loans…
After slipping to a low of seven per cent in 2009, now about one in five cars in Canada, or 20 per cent, are leased. Still, that is well below the 45 per cent peak in 2005.
“If I had to predict it right now, I could see it creeping up into the mid-20 per cent range – so roughly half of where it was,” says Dennis DesRosiers, president of DesRosiers Automotive Consultants Inc.
Overall, Canadians prefer car ownership with about 13 per cent paying cash and two-thirds obtaining loans, he said.
Whereas U.S. consumers have used leasing mainly to flip their cars every three or four years, more than half of Canadians have traditionally bought out their leases and then switched to loans, he said in an interview.
Banks and car companies responded a few years ago by introducing 84- and 96-month loans…
Federal regulators take over small bank in Ohio; makes 8th US bank failure this year
– canadianbusiness.com
WASHINGTON – Regulators have closed a small lender in Ohio, marking the eighth U.S. bank failure of 2014 after 24 closures last year.
The Federal Deposit Insurance Corp. said Friday that it has taken over Cincinnati-based Columbia Savings Bank.
The lender, which operated a single branch, had about $36.5 million in assets and $29.5 million in deposits as of March 31.
United Fidelity Bank, based in Evansville, Indiana, has agreed to assume Columbia Savings’ deposits and to buy essentially all of the failed bank’s assets.
Columbia Savings’ failure is expected to cost the deposit insurance fund $5.3 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.
In 2010, regulators seized 157 banks, the most in any year since the savings and loan crisis two decades ago. The FDIC has said 2010 likely was the high-water mark for bank failures from the recession…
The Federal Deposit Insurance Corp. said Friday that it has taken over Cincinnati-based Columbia Savings Bank.
The lender, which operated a single branch, had about $36.5 million in assets and $29.5 million in deposits as of March 31.
United Fidelity Bank, based in Evansville, Indiana, has agreed to assume Columbia Savings’ deposits and to buy essentially all of the failed bank’s assets.
Columbia Savings’ failure is expected to cost the deposit insurance fund $5.3 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.
In 2010, regulators seized 157 banks, the most in any year since the savings and loan crisis two decades ago. The FDIC has said 2010 likely was the high-water mark for bank failures from the recession…
