Canadians Are Willing to Switch Banks… If the Price is Right + MORE Aug 20th

RateSupermarket.ca survey finds average cost of bank loyalty to be $644.43
 

Canadians may be a loyal bunch when it comes to the “Big 5” lenders – but even the most dedicated consumer would switch banks for significant savings. A recent survey conducted by RateSupermarket.ca, Canada’s comprehensive rate comparison site, found 84% of consumers would consider a switch – as long as they’d save an average of $644.43.
Not sure if YOU should switch banks? Take the RateSupermarket.ca Summer Fling challenge to find out – plus you’ll be entered to win a $2,500 cash prize before August 31! Take the challenge>

The survey, which polled consumers on their banking history and sentiments, found Canadians are creatures of habit when it comes to their banks – 53% reported being with their primary lender for over 10 years, despite 27% saying they “didn’t know” if they were happy with their products and services.
“Canadians highly value trust and convenience when managing their money,” says Penelope Graham, Editor at RateSupermarket…

RateSupermarket.ca survey finds average cost of bank loyalty to be $644.43
 

Canadians may be a loyal bunch when it comes to the “Big 5” lenders – but even the most dedicated consumer would switch banks for significant savings. A recent survey conducted by RateSupermarket.ca, Canada’s comprehensive rate comparison site, found 84% of consumers would consider a switch – as long as they’d save an average of $644.43.
Not sure if YOU should switch banks? Take the RateSupermarket.ca Summer Fling challenge to find out – plus you’ll be entered to win a $2,500 cash prize before August 31! Take the challenge>

The survey, which polled consumers on their banking history and sentiments, found Canadians are creatures of habit when it comes to their banks – 53% reported being with their primary lender for over 10 years, despite 27% saying they “didn’t know” if they were happy with their products and services.
“Canadians highly value trust and convenience when managing their money,” says Penelope Graham, Editor at RateSupermarket…

WASHINGTON – Bank of America has reached a record $17 billion settlement to resolve an investigation into its role in the sale of mortgage-backed securities before the 2008 financial crisis, officials directly familiar with the matter said Wednesday.
One of the officials, who spoke with The Associated Press on condition of anonymity because the announcement isn’t scheduled until Thursday at the earliest, said the bank will pay $10 billion in cash and provide consumer relief valued at $7 billion.
The deal is the largest settlement arising from the economic meltdown in which millions of Americans lost their homes to foreclosure. It follows agreements in the last year with Citigroup for $7 billion and with JPMorgan Chase & Co. for $13 billion.
Like the Bank of America deal, those settlements were a mixture of hard cash and “credits” for various forms of consumer aid that the banks promised to provide in coming years.
The Bank of America settlement was negotiated through a joint federal and state working group established by President Barack Obama two years ago with the Justice Department and other federal and state authorities…