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
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 »
Your Fresh Financial Start Jan 3rd
Welcome back and Happy New Year! Despite the bleak weather, I’m a big fan of January - it’s so energizing to emerge from the holidays with a fresh focus and perspective. And – no surprise here – improving personal finances top the resolution list for many Canadians.
We’re here t.... More »
The best high-interest savings accounts in Canada for 2024 Jun 7th
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The best high-interest savings accounts in Canada for 2024
Here are the accounts offering the highest interest rates and lowest fees.
Compare now
Tap the button for more details.
W.... More »
The best balance transfer credit cards in Canada for 2024 Feb 16th
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The best balance transfer credit cards in Canada for 2024
Moving your credit card debt to a balance transfer card can help you pay off the debt more quickly by paying little or no interest.
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&l.... More »
Business Highlights Aug 8th
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Steady US job gains likely foretell a new era: Higher rates
WASHINGTON (AP) — A new era of higher rates on home and car loans, steeper borrowing costs for businesses and the government — maybe even a bit more return for savers — is about to arrive.
That, at least, is the word from most eco.... 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.
