The FDIC (Federal Deposit Insurance Corp.) shut down the Columbian Bank of Topeka in Kansas yesterday which had about $752 million in assets and $622 million in deposits.
This is already the ninth bank failure this year. There were $46 million in uninsured deposits by 610 accounts at the bank that exceeded the $100,000 insurance limit.
Now, [...]
As many of you know, I bank at Washington Mutual (WaMu). As many of you also know, WaMu actually failed and the government sold it to JPMorgan Chase for $1.9 billion on Friday. This was the largest bank failure ever in the United States. So what caused the downfall of the nation’s largest bank?
The major [...]
By now, most of us have heard about the news of the $700 billion bailout signed into law by President Bush on October 3rd, 2008. The bill is designed to bailout the numerous banks throughout the country that were making bad mortgage loans. The government (read: we, the taxpayers) are now going to own $700 [...]
I recently opened up a Dollar Savings Direct account solely because of the 4.00% 2.65% 2.05% interest rate on it, which is the highest I’ve seen lately. This was created by the same guys that created Emigrant Direct (which I wrote a scathing post about why I was cancelling).
However, I’m still willing to give them [...]
WaMu’s (now JPMorgan Chase’s) online savings account is now at a measly 1.50% which I predicted after JPMorgan took them over. Let’s just hope the customer service doesn’t drop like their interest rates! On a positive note, their online-only 5-year certificate of deposit (CD) is earning 4%. Not bad, but I don’t want to lock [...]
Just noticed that the 2008 1099 tax forms are available online from ING Direct. Tax season has begun! It’s never too early to start on your taxes. I’m going to be using TurboTax again this year as I’ve done done for the past couple years. Remember, as the saying goes, death and taxes!
Dollar Savings Direct dropped their savings rate to 3.20% (down from 3.5% and 4.0% recently). ING Direct is now at 2.2% (from 2.4%). ING Direct is probably my favorite online savings account because they don’t drop rates drastically like their competitors and they raise rates faster when general interest rates are rising. Get a $25 [...]
Dollar Savings Direct has lowered its online savings account rate yet again to 3.05% from 3.20%. It was expected as overall interest rates are falling but it is still one of the highest I’ve seen out there. It is definitely discouraging to see interest rates fall especially for savers, but some interest is better than [...]
ING Direct just yesterday lowered its online savings rate from 2.20% to 1.85%. Contact me to get $25 free for opening an account with at least $250! Dollar Savings Direct is at 3.05% which is one of the highest I’ve seen yet. Here’s a
Here’s another Interest Rate Roundup ordered by highest rate.
Smartypig is at 3.25% (mini-review) (not a traditional savings account)
Dollar Savings Direct is at 2.65%.
Grand Yield Direct is at 2.50%.
FNBO Direct just dropped to 2.40% today.
HSBC Direct is at 2.25%.
ING Direct Orange Savings is at 1.85%.
WaMu Online Savings is at 1.00%.
I currently have tried and still have [...]