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BankSimple Lands $10 Million in Additional Capital and Announces Several Key Partnerships

BankSimple, a stealth banking company that plans to launch by the end of the year, just announced $10 million in new funding from several prominent investors as well as some key partnerships. The company aims to simplify the banking experience via technology.

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Fed Statement Means Bank Rates to Stay Low Through 2013

Those of you holding your breathe, waiting for savings account rates and CD rates to rise, will have to hold for quite a bit longer. Today, the Fed announced that it was going to hold its benchmark interest rate at a record low (0 - .25%) at least through 2013. The Fed announced this in the midst of a ratings downgrade of U.S. debt, a slowing U.S economy, and persistent sovereign debt issues in Europe.

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How S&P Downgrade May Impact the Municipal Bond Market

The fallout from the S&P downgrade of U.S. debt from AAA to AA+ is just starting to hit the municipal market. Following the downgrade of U.S. debt on Friday, S&P has begun to review and downgrade the debt of AAA rates cities and towns.

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Why the Rating Downgrade from S&P Is Like a Bad Review from Simon Cowell on American Idol

I see the downgrade of U.S. debt by the S&P a lot like the judging role played by Simon Cowell when he was on American Idol. Here's why:

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CD Rates At or Above 3% APY

CD Rates continue their inexorable match downward. It was only a few months ago that a top five year CD rate could get as much as 3.30% APY. Now, according to the BestCashCow database there are only a few banks in the U.S. offering 60 month CDs at 3% APY or above. Below are a few of them:

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Time to Refinance Your Mortgage? Conforming Loan Limits Are Likely to Revert to $625,500 Nationwide

The maximum amount for a conventional loan mortgage not to be considered a jumbo loan mortgage is set to change on October 1, 2011. What does this mean for you?

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Comparison of the Dow Jones Industrial Average During the Depression Versus Today - Part II

Today, as the Dow falls over 300 points and is down over 1,000 points in the past ten days, I thought it would be useful to revisit my Dow Jones Industrial's crash analysis I did in 2008. The analysis compared how the Dow was faring during the global financial crisis versus how it did in the 1930s in the throes of the Great Depression.

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Bank of New York Mellon Charging to Hold Customer Cash Image pymnts.com

Bank of New York Mellon Charging to Hold Customer Cash

The Bank of New York Mellon plans to begin charging a fee for its big custodial customers to park cash at the bank, according to the Wall Street Journal.

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Moody's, S&P, and Fitch Threaten to Lower US Credit Rating - Who Cares

Over the past three months we've heard warnings and threats from the big US credit agencies Moody's Investor Services, Standard & Poors's, and Fitch Ratings that the U.S. is on a negative credit watch and may have its AAA credit rating downgraded. All of these credit agencies are often a dollar short and a day late in spotting financial difficulty and have about 0 credibility rating risk.

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Banks Paying Above Average Savings Account Rates

We all know that savings account rates have been on a path to nowhere over the last three years since the start of the global financial crisis. Back in 2007, savings rates were as high as 6% but now the average is closer to .50% APY. But with a little bit of research, you can still find savings accounts at 1% APY and above - some even higher than 1.50% APY.

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New JD Power Study Shows Mortgage-Holder Frustration

A new study shows that many homeowners are not satisfied with their mortgage servicer. Would you be included on this list?

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Is Now the Best Time To Buy A New Home?

Mortgage rates are low. Home prices are falling. Should you buy a house right now?

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Three Common Myths about Refinancing Your Mortgage

For millions of homeowners, refinancing has helped them save thousands of dollars and pay off their home sooner. But is it the best option for your situation?

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Tips for Avoiding Predatory Mortgage Lenders Image sharksider.com

Tips for Avoiding Predatory Mortgage Lenders

Have you ever been targeted by a predatory lender? If you are in a precarious financial situation, you may be on their target list. Use the following tips to recognize predatory lenders so you can avoid them.

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Five Ways to Recognize a Loan Modification Scam

Loan modifications are becoming more and more common these days as people fall deeper into mortgage trouble. Is there a possibility that you may need a loan modification soon? Use the following information to keep yourself from becoming a victim of a loan modification scam.

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