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Banking Regulation E requires the bank to tell you a summary of your rights and the procedures necessary to affect certain stop payment requests. You can find that requirement under §205.7(b)(7). If your dispute
A mutual fund whose shares are sold without a sales commission and without a 12b-1 fee of more than .25 percent per year.
A type of life insurance that helps repay a loan if you should die before the loan is fully repaid. This is optional coverage.
Electronic transfer of funds from one financial institution to another; usually involves large dollar payments.
Compound interest makes a distinction from simple interest due to the reinvestment of interest factoring into the rate of return. Compound interest is the method of calculating the rate of return by adding accumulated interest back to the principal investment, so that interest is earned on both the original principal and the interest as it accumulates. The more frequently the interest
Cash kept on hand in a depository institution’s vault to meet day-to-day business needs, such as cashing checks for customers. Vault cash is counted as a portion of the banks required reserves.
Simplicity Bank based in Covina California is offering three new CD promotions that offer some of the best CD rates in the region. The bank CD rate promotions are competitive for mid-term and long-term maturities. The rate increases put these accounts above the competition and well above the national average rate for comparable term CDs.
Simplicity
A retirement savings program for individuals to which yearly tax-deductible contributions up to a specified limit can be made. The amount contributed is not taxed until withdrawn. Withdrawal is not permitted without penalty until the individual reaches a specific age.
As more consumers flock to the safe harbor of bank products, more and more are asking and searching for high rates with a minimal investment. Unfortunately some consumers have even shied away from investments in bank CDs because of the perception that a large sum of money is needed to reach the higher rates.
A money market account is a savings account offered by banks that normally earns a higher rate of interest than a normal savings account. These accounts go by the acronym MMA, but also are referred to as Money Market Demand Accounts (MMDA) or Money Market Deposit Accounts (also MMDA.)
It pays a higher rate in
Ocean Bank of Portsmouth New Hampshire has two CD specials running. The first CD is a 5 month certificate that earns an interest rate of 3.00% APY. The minimum deposit to open this bank CD is $1,000.00. Ocean Bank has another promotional CD that yields 3.25% APY on a two year bump up CD. The
The minimum dollar amount that must be paid each month on a loan, line of credit, or other debt.
Direct obligations of the U.S. Government, issued by the U.S. Treasury’s Bureau of Public Debt as a means of financing the Federal Government. There are three types of securities issued: Treasury bills, Treasury bonds, and Treasury notes.
For the better part of the first week in September bank rates climbed higher with consumer borrowing rates rising more than savings rates. That situation turned around on the last day of the week with the release of the monthly employment report by the Bureau of Labor Statistics. The poor showing in the monthly jobs
The rates on banks lending to banks have been coming down measurably worldwide as central banks efforts to ease credit constraints are starting to show results. World banks have been cutting interest rates and pouring funds to their economies and financial system to increase lending activities and avoid a banking meltdown. The Federal Reserve’s action
Yes. The bank may freeze the account to ensure that no funds are withdrawn before the error is corrected. Or the bank may place a hold on the deposit.
The Fair Debt Collection Practices Act is a set of United States statutes added as Title VIII of the Consumer Credit Protection Act. Its purpose is to ensure ethical practices in the collection of consumer debts and to provide consumers with an avenue for disputing and obtaining validation of debt information in order to
Capital Pacific Bank is a full-service bank in Portland, Oregon. Capital Pacific Bank was established to provide support for businesses and the community in the Portland and Vancouver area. Headquartered in the Fox Tower in downtown Portland, the bank’s full array of products and services serves businesses, professionals and nonprofit organizations.
The bank was established on
A summary of all transactions that occurred over the preceding month and could be associated with a deposit account or a credit card account.
The Nov. 9, 2008 Boston Globe Sunday edition contains an ad for First Republic Bank’s 5 month CD special. The 5 month CD has an interest rate of 3.85%. The minimum balance for this account is $5,000.00. This CD rate places the bank’s offer in the top 10 CD rates for Massachusetts. A quick search
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