If you’re concerned over the recent news you’re hearing about Bank of America, you’re not alone. The memories of Lehman Brothers, Goldman Sachs, Morgan Stanley, and Bear Sterns are still fresh in the minds of investors as well as those who kept funds in these banks.
Virtually overnight Lehman Brothers went from a healthy, thriving financial institution to a bank wiped off the financial map.
Before discussing Bank of Americas problems specifically, it is important to remember that your money on deposit is safe even if Bank of America ceases to operate. In the United States, The Federal Deposit Insurance Corporation, or FDIC, insures your account up to $250,000. The pr
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Legislatures in Texas have enacted a new law directly affecting the surety bond industry. When one looks at the changes included in the bill, it’s hard to see what it actually accomplishes; it raises the question of whether the legislators writing laws affecting the world of surety have adequate knowledge of the industry.
The new bill is named HB 1951 and allows non-Treasury listed surety companies to issue bonds up to $1,000,000 without proof of reinsurance. Although Texas sureties don’t need to be registered with the Department of Treasury now, they need to write bonds within the limits of 10% of their capital and surplus and still must write within state regulatory limits. The
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It is every American’s dream to buy a home they can call their own. However not all can buy their own home, in fact only a few percentage of the American population was able call the place they stay as their own. The reason behind why people don’t have their own home is that they are not able come up with the entire amount of their dream home in cash. Several banks and lending institutions however started granting loans to the public specifically you purchase a new home. This was in the early part of the 20th century and became what we now call as a mortgage loan.
A mortgage loan is simply a loan granted to an individual that makes the home that you are purchasing as the collateral. The Read more…
Banking has changed in many ways over the centuries. The oldest forms of banking were often simple loans issued to businesses to buy their property. Once the goods were sold, the lender collected the money for the loan with interest. Today banks have diversified their services and products in order to provide fast and efficient. Putting surplus funds from a working community by deposits and investments, banks are able to help individuals buy cars and houses, start businesses, send their children to college, and countless other benefits.
These activities by the bank are divided into retail banking, corporate banking, corporate banking, private banking and investment banking. Read more…
Currently, many people are looking for ways to tighten their belts, save money and make the most of what they’ve got. If this sounds familiar, read on to find out about five money saving tips that could help you. From interest free credit cards to recycling whatever you can, there’s something everyone can do to help make a difference.
Interest free credit card
If you are someone who regularly uses a credit card and takes advantage of the minimum monthly payment, you might be able to benefit from credit cards with 0% interest. The Read more…
Often we do not know how to find a way out when there is a lack of cash. The current economic crisis has changed common habits and lifestyle. People try to save on everyday needs but this seems almost impossible with growing unemployment and rising utility bills. When there are many unexpected needs like medical bills or repairing a car, you can apply for personal loans.
As usual banks have specific programs on loans for business owners and individuals. Read more…
