Commercial bank

Especially in this era of big bank chutzpah, the phrase “free checking” might sound like an oxymoron along the lines of “free bills,” “free debt” and “free inmates.” But the truth is, free checking never really went away: It just got blown to smithereens for many of those who keep their accounts with Citibank, Bank of America, Chase and their ilk. What do the fees look like? Even within one bank, it can differ greatly. Citibank, for example, charges anywhere from $10 a month for Basic Checking…

of the US economy, I believe that it is important to discuss the pros and cons of this banking system. I will be agreeing on how the banks initially felt threated by the inception of the postal banking services, how the Savings and Loans industry lost profits due to this banking…

According to a research study of a British bank, there were account holders that never visited the bank. Some of them did not even want to visit their banks and though that banking hours were irrelevant. Almost half of these people did not know who their branch manager was. Lastly, 30% hoped that they could do banking transactions over the phone. Because of this group of people who lost interest in banking transaction, Midland group sought to fix their problems. They created a new business…

guilty of fraudulent activity, including misrepresentation of interbank borrowings as well as reporting incredulously low rates to allow the perception of financial health. Many banks were involved and colluding in these practices, therefore one can certainly conclude that the problem does not lie solely with the panel banks but the financial system and its governing regulators as well. LIBOR stands for London Interbank Offered Rate; it was intended to be a firm representation of the cost of…

economy, people, especially small business owners are left to wonder what is the best way to prepare for the future. For individuals and small business owners it is very important to have a reliable and practical bank to keep their earnings safe and available. First, you must find the right bank that fits your personal or business needs, because there are many different options available. Next, the most critical part for the success of your personal or business financial life is to find…

contingency; but also in a day to day life. Unlike debit cards, credit cards are globally accepted and can be utilized for shopping, travel, holidays, utility bill payment or for cash advances. They come with pre-stipulated amount that you can borrow from the bank. Not only credit card reduces your financial burden, but also helps to buy happiness if one can use the credit card wisely. Beyond misconceptions, the benefits of credit cards are amply; only if one knows the terms and conditions…

I went to go visit Wells Fargo Bank on Saturday September 17, 2016. I talked to Natalie and she helped me get information regarding about the savings account and the checking accounts. I also go a little bit of information on the investment, she told me that Wells Fargo is not license for investment. In Wells Fargo they have five types of savings account. The first one is Way2save account in this account is design to make savings on a regular basis. It offers automatic transfer and an option to…

With dozens of professional sports stadiums built in the past decade, and many more on the way, it is time to put a halt to public-funded stadiums due to their lack of economic productivity. This is what Raymond Keating argues in his 1997 editorial ‘We Wuz Robbed! The Subsidized Stadium Scam.’ He believes that since taxpayers continue to lose more and more money from taxes and subsidies each year, Congress should eliminate tax breaks for financing stadium construction. Keating begins not by…

challenges and competition in the global market. Nearly all the restrictions on permissible banking activities were suddenly relaxed while the restrictions on the geographical location of the branches were eliminated, thereby paving way for bank expansions. Moreover, banks located in different states could merge for increased service…

As I read through the laws that govern the securities industry, I asked myself the question of “ Why do we regulate the financial systems? Besides the basic understanding of having laws to better the efficiency of the investment and banking industry, why must we have laws and ethics that lay out the information of what is good and what is bad in the world of money, shouldn’t it already be known? In class we mentioned the issue with Goldman Sachs, ENRON, and some others companies who disobeyed…