Similiar Content You Might Enjoy
The key news for today is the monthly CPI or inflation figures produced by the Bureau of Labor Statistics within the U.S. Department of Labor. Today’s announcement showed that the CPI increased by 0.4% for the month of August. Without the volatile food and energy component, the CPI increased by 0.1%. For July, the aggregate
That depends upon how much you are paying. Most people and businesses prefer a money order or a cashier’s check, because you buy those from the bank, and the person is paid with the bank’s money, not yours. A certified check is as liquid as a cashiers check, meaning the check should be
To sign your name on the back of a check in order to cash it or deposit it.
Uniform Commercial Code – a set of laws established at the state level regulating commerce. These laws are proposed by a national group of state-appointed commissioners, but are adopted, with some state-specific adaptations, by the individual states.
Yes. In addition, you’re protected by the Electronic Fund Transfer Act, which governs consumer rights involving errors in the handling of electronic deposits, payments or withdrawals, and limits on consumer liability for unauthorized transfers.
Check 21 is the informal name for an act created by Congress in 2003 to help modernize the check processing system with the use of digital imaging. Many banks now clear checks with just digital images of the checks instead of the checks themselves. These reduces check processing costs for financial institutions and
New regulations by the U.S Treasury are providing a temporary guarantee of money market fund asset values. Do to the instability in 2008 of short term money market instruments and the concern for significant and swift redemptions of money market mutual fund shares, the U.S. Treasury announced a temporary program to guarantee certain assets in
Electronic Fund Transfer Act – implemented by banking Regulation E. This is a consumer protection law which establishes the basic rights, liabilities, and responsibilities of consumers and financial institutions that use/offer electronic transfers of money. The objective of the act and regulation is the protection of consumers using electronic fund transfers such as
A substitute check is a paper copy of the front and back of the original check. A substitute check is slightly larger than a standard personal check so that it can contain a picture of your original check. A substitute check is legally the same as the original check if it accurately represents
Morgan Stanley reported on December 17, 2008 that their loss from continuing operations for the fourth quarter was $2,195 million compared with a loss of $3,588 million in the fourth quarter of last year. Net revenues were $1.8 billion, compared with negative $0.4 billion in last year’s fourth quarter. Writedowns, impairments and losses decimated the
Virginia Commonwealth Bank is a local community bank that is state chartered. The bank was established in 1936 and has been FDIC insured since 1936. The bank is chartered as a Federal Reserve Member and the primary regulator is the Federal Reserve Board (FRB). Virginia Commonwealth Bank has assets of approximately $310,352,000 and net income
Mother Lode Bank is based in Sonora, California. The bank was established on July 30, 2004. Mother Lode Bank has been FDIC insured since July 30, 2004. Mother Lode Bank is chartered as a Federal Reserve Non-member. Therefore the primary regulator is the Federal Deposit Insurance Corporation (FDIC). At the close of 2008, the bank
An employee of the Comptroller of the Currency whose function is to examine national banks periodically to determine the financial position of a bank and the security of its deposits. The examiner also verifies that the bank maintains procedures consistent with Federal banking laws and regulations.
Great news on bank CD investments and money market accounts. Now the safety of investing in high CD rates and savings accounts is even stronger. On October 3, 2008, FDIC deposit insurance temporarily increased from $100,000 to $250,000 per depositor through December 31, 2009. The deposit insurance coverage limits refer to the total of all
Through much of its early history Louisiana was a trading and financial center, and its fertile land made it a prosperous region in America. The prosperity was mainly due to the river system of the region, especially the “big river”. The Red River and its tributaries were main arteries of transportation for the area along
The state known as Old Dominion is home to a bank offering a 4.06% APY on a 21 month term certificate of deposit. Old Dominion is the nick name for Virginia, that an apparently the nick name of Mother of States since eight U.S presidents were born in the state. Virginia is also the home
Mortgage rates climbed measurably higher this past while CD rates were held in place. Credit card rates were down but, it was by the slimmest of margins and money market rates . The impetus for the rate increases appears to be the actual or perceived strength of the US economy.
The bond market and interest rate
Amount of reserves held by an institution in excess of its reserve requirement and required clearing balance.
A cashier’s check is a check issued by a bank and payable to a specific person. Because a bank issues a cashier’s check, itself, the cashier’s check is paid by funds of the bank and not the depositor. Therefore, if an item is genuine, there is very little risk that the instrument will
Wayne Bank is based in Honesdale, Pennsylvania and offers a bevy of mortgage loan programs for consumers throughout Eastern Pennsylvania. Wayne Bank has been offering lending services to consumers for over 100 years and has grown to become of the of the largest and most stable mortgage lenders along the north and eastern portion of