I noticed that Emigrant Direct has quietly spun off a purely online bank by the name of DollarSavingsDirect.
Interestingly, DollarSavingsDirect is running a 3.75% APY online savings account ($1000 minimum) while Emigrant is offering 3.00% (no minimum).
Anyone have an idea on why Emigrant is doing this? Why are they offering different rates? and what’s their business [...]

These are scary times for the banking industry. A small bank in Florida by the name of First Priority Bank has been shut down by the FDIC.
First Priority Bank with six branches on Florida’s Gulf Coast was closed by state regulators, becoming the eighth US bank to collapse this year amid failed loans [...]

This is an open thread for all of us to discuss the soundness of banks. Please vote and leave a comment to justify your vote. This poll is worthless without your thoughts! If you don’t see your bank listed, you can add it to the poll. n

Which Bank Will Go Bust Next?

Washington Mutual

Wachovia

Wells Fargo

Bank of [...]

Last week, Senator Schumer of NY issued a letter to federal banking regulators warning that there would be severe consequences to taxpayers if a large commercial bank like Indymac were to fail.
Senator’ Schumer’s letter created a bank run at Indymac’s branches; Indymac bank officials report droves of customers making withdrawals during the weekend. An [...]

Jim Bruene over at Netbanker has released the March 2008 online banking statistics.
Some interesting observations:

Many people are tapping into their home equity for $$. This could be a signal that people are strapped for cash.
Credit card applications have soared since February. Jim Bruene points out that conversion (the percentage of applicants who are approved) has [...]

No single quasi-private institution has as much influence on the worldwide economy as the Fed, and as a leader can head this institution for an indefinite term, no one man is as influential on the markets as the Fed Chair.
The Dollar has plummeted in the currency markets and shows few signs of [...]

Hi all,
The new management at Bankaholic.com is thrilled to announce that we will soon be unveiling a very cool ‘Interest Rate Tool’ for money market rates, savings account rates, and certificate of deposit rates.

We are looking for BETA testers to help us spot bugs in it and give us suggestions. If you are interested, please [...]

HSBC has been aggressively cornering the online banking market in America. For those who live in California, have you noticed how HSBC bank offices have been popping up everywhere?
It looks like HSBC plans to expand its presence in Connecticut. Ever since HSBC started offering 5.05% on their online savings account, they have been creating quite [...]