Citibank, National Association Articles
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Bill Dudley, Former Head of the NY Fed, Makes A Compelling Case for Not Raising FDIC Insurance, Proposes Alternative
In this Bloomberg piece, published today, Bill Dudley makes a compelling case against raising the FDIC insurance limit from the current $250,000 per account (learn more about FDIC coverage here). First, Dudley recognizes the importance... Read →
A Difficult Couple of Days in NYC, But Still No Urgency to Invest in Wind and Solar
It has been a difficult few days in New York as the air quality has been the worst in the world for most of the last 48 hours due to the wildfires in Quebec. The City of course has seen tougher days, much tougher. It has also... Read →Citibank is aggressively advertising its new and improved ThankYou cards, but the benefits of the costly Prestige Card aren't entirely clear. We did some digging and found they are there.
Read →The answer: "It depends."
Read →The conventional wisdom regarding Bank of America's decision to delay the imposition of fees on checking account holders who do not maintain a minimum balance has been that they were fearful of a consumer backlash similar to the one they experienced last year. It is not that simple.
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A Small Victory for the Average Person - Overdrafts at Citi May Not do as Much Damage
Traditionally, banks will process the largest outstanding debit to one's account first. This largest to smallest protocol results in more overdrafts, which result in more fees being aid to the bank. However Citibank is reversing the order to the benefit of all of its customers.
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Major Banks Are Offering Structured Products Paying 8% a Year to Their Customers, Is it Safe?
Citibank, Bank of America, JP Morgan, Morgan Stanley and Goldman Sachs are creating interesting structured instruments for their subsidiaries' brokerage customers. These products offer a fixed return above those available in even the best savings and CD accounts. Is the environment still dangerous for banks and are these products too good to be true?
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