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The average consumer knows very little about interest rates, whether it’s the present climate or the future direction of rates. Consumer ignorance is the financial institutions best friend on the road to greater profits. Interest rates greatly influence our finances, there is little we can do about or perhaps should do about it. Most bank
The labor department posted good news on Friday with a stronger than expected labor report, this is a sign of strengthening economy in the short term as well as over the long term should the job growth continue. Oil prices also pulled back last week taking some pressure off of inflation expectations. The
Peoples United Bank is now marketing a 10 month CD with an interest rate of 3.50%. $500.00 is the minimum balance to open the CD and receive the advertised annual percentage yield. Conditions on the CD offer include the requirement of a Peoples’ United Plus checking account with the bank. This short term CD rate
Debtors may keep exempt secured property even though they owe money on it by paying the creditor the collateral value of the property rather than the amount of the debt. Note that in some cases the value of the collateral may be less than the amount owed on it. In these cases it
Online banking is one of the newest forms of banking, and it seems every traditional (and not so traditional) bank is offering online services or completely automating their activities on the internet. It may be that you have only a few bills to pay every month or that you’re still learning to navigate the
An enhanced cash product is a general term that refers to funds that are typically not registered with the SEC and that seek yields slightly higher than those of money market funds. In seeking those yields, however, enhanced cash products can exceed the SEC rule restrictions imposed on money market funds governing the credit
One one-hundredth of a percentage point. The difference between 8.04 percent and 8.05 percent is one basis point.
The Nov. 9th, 2008 Philadelphia Inquirer has an ad from Citizens Bank with a high rate CD account and money market account. The CD account is for a 6 month term with an interest rate of 3.90%. The minimum balance for this bank account is $1,000.00 but requires the opening of a Citizens Gold checking
Mortgage rates and CD interest rates moved lower for the week ending April 6, 2012. Mortgage rates were substantially lower while CD rates and even savings account rates were off just slightly for the week.
Rates have moved significantly higher since mid March as expectations have risen over a gradual and sustainable rise in employment and
Many sources for bank rate information rate bank CD rates differently. Most web sites that rate bank CD rates, rate only national banks. If the term “CD rates” is searched on the internet the top results are frequently sites that merely rank national banks or banks that predominantly offer CDs over the internet. A quick
Wainwright Bank & Trust Company provides a variety of financial services. The bank was founded in 1987. Wainwright Bank & Trust Company is a $1 billion publicly traded commercial bank. The bank is headquartered in Boston with over a dozen bank branches throughout the Greater Boston area.
The bank provides deposit and savings accounts that range
Money market mutual funds are certainly very liquid, there is no penalty for withdrawing your money and the mutual funds that run the account invest in only short term debt instruments like U.S. Treasuries and short term commercial paper. Risk, however, does exist. First, money market mutual funds are securities and have the
Implemented by banking Regulation CC). It requires financial institutions to make deposits available within specific time frames, based on the location of the bank of deposit and where deposited checks are drawn.
The U.S. Department of Labor released unemployment claims for the week ending November 15, 2008.
The Seasonally Adjusted Figures:
The advance figure for seasonally adjusted initial claims was 542,000, an increase of 27,000 from the previous week’s revised figure of 515,000. The 4-week moving average was 506,500, an increase of 15,750 from the previous week’s revised average
The act of estimating future events, particularly business operations.
Platinum Community Bank is a local community bank located in Rolling Meadows, Illinois. Platinum Community Bank has several retail savings products that offer great rates and flexible investment options. Savings options that include a traditional passbook savings account, a money market account and a fixed rate fixed term certificate of deposit account.
Though Platinum Community Bank
Accepting checks is part of contract law and usually governed by the Uniform Commercial Code. Individual states set the standards for the acceptable term on a check. It is a general standard that a check over 6 months old.
The right to buy or sell a security or commodity at a specified price during a specified period. The holder of an option has the right, but not the obligation, to buy (call option) or sell (put option) a security or commodity at a specified price during a specified period. The writer of an
A company hired by a creditor to collect a debt that is owed. Creditors typically hire a collection agency only after they have made efforts to collect the debt themselves, usually through letters and telephone calls.
Consumer prices moved higher with a year over year increase of 2.7 percent and the Philadelphia Federal Reserve Bank President, Charles Plosser, commented that the Fed may have to raise rates if the economy continues expand. Yet, bank interest rates moved decidedly lower for the week. While the tea leaves appear to be