Learn more about Canada’s top banks rates, rules and the latest news – read on!
Latest News
‘Tis the Season to Spring Clean Your Wallet + MORE Apr 25th
The official start of the season may have been last month, but now we can confidently say that spring is finally in full swing. So as we start fresh and give into the annual “spring cleaning” tradition, why not give financial spring cleaning a try? Check out these tips to find areas in your l.... More »
How Long Does an e-Transfer Take? Nov 4th
Interac e-Transfer has revolutionized how Canadians move money to each other, reducing the number of cheques written by the millions. But how long do e-Transfers take, and is there a way to speed up the process?
In this article, I explain why some e-Transfers are almost instant, and others can take .... More »
Look outside the Big Banks box for best savings rates Nov 14th
Small financial institutions, ETFs and investment savings accounts offer the best interest rates around.... More »
Stock news for investors: Big gains for Canada’s banks in Q1 Feb 27th
Here’s a round-up of news for Canadian investors this week.
Scotiabank
EQB
National Bank
BMO
RBC
TD
Featured RRSP Accounts
featured
EQ Bank
Build your retirement savin.... More »
Canada’s best credit cards for grocery purchases 2022 Nov 17th
Everybody needs to put food on the table, so you might as well earn rewards while doing so. Considering that in 2022 the price of food in Canada has risen at the fastest pace in decades, with the annual rate of food inflation sitting above 10% in recent months, there’s no better time to earn usefu.... More »
Federal regulators take over small bank in Illinois; makes 7th US bank failure of 2014
– canadianbusiness.com
WASHINGTON – Regulators have closed a small lender in Illinois, marking the seventh U.S. bank failure of 2014 after 24 closures last year.
The Federal Deposit Insurance Corp. said Friday that it has taken over AztecAmerica Bank, based in Berwyn.
The lender, which operated two branches, had about $66.3 million in assets and $65 million in deposits as of Dec. 31.
Republic Bank of Chicago, based in Oak Brook, Illinois, agreed to pay the FDIC a premium of 1.025 per cent to assume AztecAmerica’s deposits. Republic Bank also agreed to buy roughly $58.3 million of the failed bank’s assets.
The FDIC will retain the remaining assets for later disposition.
AztecAmerica’s failure is expected to cost the deposit insurance fund $18 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 AztecAmerica Bank, based in Berwyn.
The lender, which operated two branches, had about $66.3 million in assets and $65 million in deposits as of Dec. 31.
Republic Bank of Chicago, based in Oak Brook, Illinois, agreed to pay the FDIC a premium of 1.025 per cent to assume AztecAmerica’s deposits. Republic Bank also agreed to buy roughly $58.3 million of the failed bank’s assets.
The FDIC will retain the remaining assets for later disposition.
AztecAmerica’s failure is expected to cost the deposit insurance fund $18 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…
A New Low Rate Rally
– ratesupermarket.ca
The Canadian finance product landscape is always evolving, and this week was no exception, with a few major shakeups among the credit card and mortgage markets. Investors Group stormed the home buying scene with the lowest rate so far this season – a sub-2% variable rate, sure to turn heads among an already competitive rate environment.
Fans of prepaid credit cards also have reason to smile, as the federal government has done away with frustrating hidden fees and misleading packaging. Be sure to check out our coverage on the recent changes.
Investors Group Introduces 1.99% 3-Year Variable Mortgage Rate
It’s one of the lowest variable rates ever seen – should you take the opportunity to score your mortgage at this rate? Investors Group made headlines this week with their 1.99% jaw dropper – but while such a rate offers fantastic savings, there are restrictions consumers should be aware of. Check out our breakdown of this mortgage product’s features, and see if it’s a fit for your home financing plan…
