COMMERCIAL law, CORPORATE bonds, BANKING industry, BANK loans, DEPOSIT accounts, MERCHANTS, BANK accounts
Abstract
Copyright of Journal Of the College of Law /Al-Nahrain University is the property of Republic of Iraq Ministry of Higher Education & Scientific Research (MOHESR) and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)
BANK accounts, ECONOMIC development, DEPOSITS (Law), LOANS, INVESTMENTS
Abstract
Bank accounts are critical for participation in the modern economy. However, these accounts frequently require maintenance fees and incur overdraft charges. We assess whether minimum account balances to avoid fees, account maintenance fee amounts, and nonsufficient funds charges are systematically different in LMI and majorityminority communities, and find that they are generally higher. For example, the minimum account balance to avoid fees in a noninterest checking account is about $50 higher in LMI Census tracts than in higher income tracts, and $75 higher in majorityminority tracts. Differences in bank fees between LMI, majorityminority, and other communities result from various factors, including bank lending income, bank operating costs, and bank size. [ABSTRACT FROM AUTHOR]
This paper examines how referendums on internationally contested issues can activate nationalist discourses. To this end, it carries out a case study of the 'Icesave conflict' between Iceland, the UK and the Netherlands. This conflict centered on whether the Icelandic government should insure British and Dutch deposits in the online accounts of the Icelandic bank Landsbanki, which went bankrupt in the Global Financial Crisis. Departing from a discursive institutionalist framework, the paper performs a detailed analysis of the conflict over time, including two Icelandic referendums on repayment plans. It argues that although calling a referendum likely gave Iceland more bargaining power, doing so also activated novel nationalist discourses. A main contribution of the paper thus lies in illustrating how international pressures can 'reverberate' in the domestic realm. Another key contribution is the dynamic analysis of a case that spanned several years, allowing for a time-sensitive understanding of evolving political developments and discourses. [ABSTRACT FROM AUTHOR]
BANK service charges, CONSUMER credit, BANK accounts, BANKING industry, DEPOSIT accounts, OVERDRAFTS, ELECTRONIC funds transfers, DEBIT card fraud
Abstract
Walmart customers will soon have the option to pay directly from their bank accounts with instant transfers for online purchases, cutting out card networks. This move is seen as a response to the escalating tensions between merchants and card networks over payment processing fees. The enhanced feature will allow customers to see the purchase reflected in their bank account balance instantly, avoiding stacked pending transactions that can lead to overdraft fees. Walmart's upgraded pay-by-bank offering will be rolled out in 2025 and will occur over bank technology provider Fiserv's NOW Network, which aims to connect to as many banks as possible. [Extracted from the article]
BANKING industry, DEPOSIT accounts, BANK accounts, FRAUD, CHIEF ministers
Abstract
Deputy Chief Minister Pravati Parida of Odisha has warned beneficiaries of the Subhadra Yojana to be cautious of cybercriminals. She advised them not to share their bank account details or click on any suspicious links. One beneficiary has already lost Rs 12,000 in a fraud case. The first installment of the scheme will be deposited in the beneficiaries' bank accounts through direct benefit transfer, and it will be given to everyone who did not receive the Re 1 trial transaction. Parida assured the eligible women that they would receive all benefits and that the registration process would continue until all beneficiaries were added to the program. Over 65 lakh beneficiaries have signed up for the program so far. [Extracted from the article]
BANK customers, BANK accounts, BANKING industry, DEPOSIT accounts, CONSENT decrees, PERSONAL bankruptcy
Abstract
Toronto-Dominion Bank (TD) has been fined nearly $28 million by the Consumer Financial Protection Bureau (CFPB) for sharing inaccurate information about tens of thousands of US customers with consumer reporting companies. The information shared by TD included personal bankruptcies, credit card delinquencies, and bank accounts that were suspected to be fraudulently opened. This inaccurate information could have affected consumers' employment prospects, access to credit, and ability to secure housing. TD has agreed to pay restitution to affected consumers and a civil penalty, as well as implementing reporting and compliance measures. This is the latest issue for TD, which is already facing allegations of failing to catch money laundering and other financial crimes. The CFPB director criticized TD for prioritizing growth over treating its customers fairly. [Extracted from the article]
According to an article in Choice, high-interest savings accounts have become more popular in Australia due to rising interest rates. These accounts, which offer better returns than standard savings accounts, had been stagnant for years. However, with the country's emergence from the COVID-19 pandemic and increased inflation, the Reserve Bank of Australia has raised interest rates, leading to higher rates on high-interest savings accounts. Surprisingly, smaller and newer banks like Australian Unity, Unity Bank, and Move are offering the best rates, while the larger banks are not as generous. The government is implementing reforms to improve banking products and empower consumers to make more informed choices. [Extracted from the article]
FINANCIAL inclusion, BANKING industry, BANK accounts, BANK deposits, DEPOSIT accounts
Abstract
Congress president Mallikarjun Kharge criticized Prime Minister Narendra Modi for using schemes launched by the previous UPA government and "busy advertising" them. Kharge specifically mentioned the Pradhan Mantri Jan Dhan Yojana, which completed 10 years, and questioned the closure of more than 10 crore Jan Dhan bank accounts, with 50% belonging to women. He also raised concerns about the average balance in Jan Dhan accounts being less than Rs 5,000 and accused the Modi government of looting money through extra ATM transactions and SMS charges. Kharge highlighted the history of financial inclusion initiatives, including the Congress-UPA's 'No Frills Accounts' scheme and the Modi government's renaming of it as Jan Dhan Yojana. [Extracted from the article]
FINANCIAL inclusion, BANKING industry, BANK accounts, DEPOSIT accounts, BANK deposits
Abstract
The Pradhan Mantri Jan Dhan Yojana (PMJDY) in India, which celebrates its 10th anniversary, has been praised by beneficiaries for its success in integrating marginalized sections of society into the banking system. The scheme has allowed for the direct transfer of social security benefits to beneficiaries and has provided convenience, security, and financial planning opportunities for account holders. Many beneficiaries expressed gratitude to Prime Minister Modi for the scheme, which has opened over 500 million Jan Dhan accounts with no initial deposit or minimum balance requirement. The PMJDY has empowered economically weaker sections and provided banking services to those previously without access. [Extracted from the article]
Mexico fintech startup Stori has raised $212 million in a funding round led by Goldman Sachs Group Inc. The funding includes $105 million in equity and $107 million in debt financing. Stori provides payment cards and high-interest deposit accounts to the underbanked population in Mexico and plans to use the funds to improve its technology, expand its product suite, and increase lending. The company aims to invest $360 million in Mexico over the next two years to increase financial inclusion and generate jobs. Stori also plans to expand into other parts of Latin America. [Extracted from the article]
Mexico fintech startup Stori has raised $212 million in a funding round that includes Goldman Sachs. The funding will be used to expand the company's investments and operations in other markets. Stori provides payment cards and high-interest deposit accounts to the underbanked population in Mexico, and plans to use the funds to improve its technology and expand its product suite. The company aims to increase financial inclusion in Mexico and plans to invest $360 million in the country over the next two years. Stori also intends to expand into other parts of Latin America. [Extracted from the article]
DEPOSIT accounts, BANK accounts, SAVINGS accounts, DEPOSIT insurance, INSURANCE funding
Abstract
Yelo Bank has launched a new service called 'Digital Deposit' that allows customers to open deposit accounts through the Yelo App without visiting a branch. The entire process is online, with no physical documents required, and agreements are signed electronically. Customers can transfer their deposit amount from a Yelo Bank card or current account, as well as from other bank cards added to the app. Once approved, the savings account is activated instantly, and customers can monitor their earnings through the app. Deposits are insured by the AR Deposit Insurance Fund up to 100,000 ₼. For more information, customers can visit the Yelo Bank website or contact them through various social media platforms. [Extracted from the article]
FRAUD, INTERNET security, BANKING industry, BANK accounts, DEPOSIT accounts
Abstract
The Telangana Cyber Security Bureau (TGCSB) has arrested three individuals involved in a Rs 5.40 crore scam, leading to the disruption of a global fraud network. The suspects provided bank accounts and facilitated money withdrawals for online scammers. The TGCSB has identified worldwide connections to this organized crime group, including ties to Dubai. The main accused, who resides in Dubai, received information about the use of 17 bank accounts belonging to their associates. The suspects have withdrawn Rs 1.34 crore from these accounts, which are linked to 26 other reported cybercrimes. Investigations are ongoing to determine the involvement of bank account holders and potential bank employees, and efforts are being made to apprehend other suspects. [Extracted from the article]
CREDIT unions, DEPOSIT accounts, ONLINE banking, PRESS releases, BANK accounts
Abstract
Blend partnered with Andrews Federal Credit Union, based in Maryland, to improve its deposit account opening experience. The company will provide an omnichannel application account opening experience, with built in-counteroffer and funding options, according to a press release. Blend also... [ABSTRACT FROM AUTHOR]
BANKING industry, BANK accounts, DEPOSIT accounts, BANK deposits, POUND sterling, MONEY laundering
Abstract
According to a report from Kenya, Nigerian startup Flutterwave is facing trouble as its bank accounts have been frozen over allegations of irregularities. The country's high court has frozen 56 bank accounts, with Flutterwave owning more than 50 of them. The accounts were allegedly used for money laundering under the guise of providing merchant services. Flutterwave is accused of concealing the nature of its business by operating without authorization from the central bank of Kenya. Other companies, including Boxtrip Travels and Tours and Bagtrip Travels Ltd, also had their accounts frozen. [Extracted from the article]
This article discusses different online savings accounts and tools that can help individuals track their savings goals. It mentions Ally Bank's savings account, which allows users to allocate their money into up to 30 "buckets" for different goals. The article also mentions Milli's mobile banking app and NBKC Bank's Everything Account as options for tracking savings goals. Additionally, it suggests that if a bank doesn't offer the option to track goals within a single account, individuals can open multiple accounts for each goal. The article emphasizes that none of these accounts charge a monthly fee. [Extracted from the article]
BANKING industry, DWELLINGS, INFORMATION technology industry, DEPOSIT accounts, BANK accounts
Abstract
The Karnataka BJP plans to stage a protest at Chief Minister Siddaramaiah's residence in Bengaluru on July 3 regarding the handling of the multi-crore tribal welfare Board case. The BJP is demanding the resignation of CM Siddaramaiah and believes that former minister B. Nagendra is being made a scapegoat in the scam. The party alleges that CM Siddaramaiah is directly involved in the scandal and accuses him of transferring money to save his position. The BJP is calling for the case to be handed over to the CBI and is questioning why the government is hesitant to do so. [Extracted from the article]
LIABILITIES (Accounting), FINANCE ministers, COLLECTING of accounts, DEPOSIT accounts, BANK accounts
Abstract
The Ministry of Communication is reportedly in a very awkward position with respect to the payment of over Rs50 billion liabilities of various companies, collected by Pakistan Post Office Department (PPOD) as the Finance Ministry is not ready to release the amount, well-informed sources told Business Recorder. The new arrangement/framework of getting funds from the Finance Division has ceased the releases for clearance of the PPOD liabilities. [Extracted from the article]
BANK loans, DEPOSIT accounts, LOCKERS, BANK accounts, BANK customers, DEBTOR & creditor
Abstract
When a customer opens a Savings Bank account or a Fixed Deposit account, the relationship between the customer and the Bank is that of Creditor and Debtor, the Customer being the Creditor and the Bank- the Debtor. When a customer avails loans from the Bank, personal or business, the relationship between the customer and the Bank is Debtor and Creditor, the Bank being the Creditor and the customer, the Debtor. However, the moot question is what is the nature of a contract when a customer avails the services of locker from the Bank where he keeps his articles in the locker? Banks in India consider the relationship to be either Bailment or lease, This article discusses, about the same and this author is of the opinion that it neither fits in the definition of Bailment or lease and it is only a case of "Licence. [ABSTRACT FROM AUTHOR]
LOTTERY proceeds, BANK deposits, GAMBLING behavior, DEPOSIT accounts, BANK accounts
Abstract
The goal of this research is to explore whether actual lottery revenues are sensitive to economic scarcity, as measured by intra-monthly stock of financial resources. Paydays of social security benefits are employed in this study to generate the various degrees of intra-monthly scarcity in financial resources. Using two million observations on daily lottery revenues that cover more than 2,500 lottery outlets in Israel over two years (2015–2016), the empirical analysis suggests that gambling revenue spikes at social security paydays. The estimation results imply that on income support payday aggregate lottery revenues are higher by 5% after taking into account potential determinants of gambling such as day of week, holidays and outlet characteristics. However, the calculated aggregate reaction of lottery revenues on income support payday is quite small and equals 0.5% of the total monthly payments deposited into the bank accounts of income support recipients. In addition, the other social security and salary paydays induce a trivial impact, relative to total monthly payments deposited into the bank accounts of the respective recipients. The findings presented here provide a valuable contribution to gambling studies that examine the relationship between economic conditions and lottery. [ABSTRACT FROM AUTHOR]
BANK accounts, BANKING industry, SAVINGS accounts, DEPOSIT accounts, INTEREST rates
Abstract
Unity Bank, for example, has set the benchmark when it comes to hassle-free savings accounts - that is, accounts that don't require savers to jump through several hoops before they can earn the advertised rate. BASED ON SAVINGS ACCOUNTS ON CANSTAR'S DATABASE, WITH RATES BASED ON A DEPOSIT OF $10,000. If you're unlikely to consistently meet various conditions to earn a high rate on at-call savings, it may be worth thinking about a term deposit or a savings account that doesn't make you jump through hoops and pays you a flat high ongoing rate. [Extracted from the article]
BANKING industry, FRAUD investigation, BANK accounts, COURT records, DEPOSIT accounts
Abstract
The co-founder of Quadriga, the defunct Canadian crypto-trading platform, has been ordered by the B.C. Civil Forfeiture Office to explain the source of $250,000 worth of cash, jewelry, and other items that were seized by the RCMP. This is part of a fraud investigation against the co-founder and the deceased co-founder, alleging that the assets are the proceeds of crime. If the co-founder cannot prove that he acquired the assets legally, he will have to forfeit them. In 2022, the co-founder was revealed to be involved in other ventures, including a decentralized finance protocol called Wonderland and a new venture called Sifu's Vision. [Extracted from the article]
BANK accounts, DEPOSIT accounts, SEIZURES (Medicine), PARLIAMENTARY practice, INTERNATIONAL agencies
Abstract
Copyright of Revista del ICDT is the property of Instituto Colombiano de Derecho Tributario and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)
The article focuses on Ric Shahin's attempt to surprise his wife with a special trip for their 10th wedding anniversary by secretly saving money from his paycheck, a gesture that initially backfired when she discovered his hidden fund, and illustrating the complexities.
Turkey plans to end its FX-protected deposit program in 2024, according to Treasury and Finance Minister Mehmet Simsek. The program, introduced in December 2021, aimed to reverse dollarization in deposits and boost the Turkish currency by encouraging savings in Turkish liras. The decision to terminate the program is part of the government's efforts to establish fiscal discipline, improve reserve adequacy, and strengthen sustainable high growth. Turkish banks will no longer offer FX-protected lira deposit accounts for savings held in regular lira accounts starting from January 1, 2024. [Extracted from the article]
BANKING industry, BANK accounts, WITHDRAWAL of funds, DEPOSIT accounts, NIGERIANS
Abstract
Former central bank governor of Nigeria, Godwin Emefiele, has been accused of operating 593 bank accounts in the United States, United Kingdom, and China without authorization from the Central Bank of Nigeria (CBN). An investigator appointed by President Bola Tinubu found that Emefiele and other officials allegedly stole billions of Naira from the CBN's accounts, including a fraudulent cash withdrawal of $6.23 million. The investigator recommended the prosecution of Emefiele and 13 other individuals for financial offenses. The report also revealed fraudulent use of funds, misrepresentation of presidential approval, and manipulation of the Naira exchange rate. [Extracted from the article]
BANKING industry, BANK accounts, INVESTMENT banking, DEPOSIT accounts, CORPORATE investments
Abstract
China Aircraft Group Holdings Limited (CALC) has closed the commercial financing of an Airbus A321neo aircraft leased to China Airlines. This aircraft is part of a two-aircraft mandate, with the first aircraft, an A320neo, already delivered to Air India. The financing was arranged by Credit Agricole Corporate and Investment Bank (CACIB), who also acted as the facility agent and security trustee. The lenders involved in the financing are CACIB, E.Sun Commercial Bank, and NTT TC Leasing. The transaction utilized ESG-linked deposit accounts, where the interest rate earned is tied to CALC's ESG score. Legal advice was provided by Clifford Chance, Watson Farley & Williams, Walkers, Mourant, Ganado, MKP, and Lee and Li. [Extracted from the article]
BANK insurance, BANK accounts, FINANCIAL policy, DEPOSIT accounts
Abstract
Financial inclusion or the provision of universal access to financial services viz. banking savings and deposit accounts, remittance, credit, insurance and pension in an affordable manner to the poor and needy sections of the population is the focus area of the Jan Dhan and Jan Suraksha schemes. This paper seeks to analyse the growth and the performance of Jan Dhan and Jan Suraksha schemes from inception to October 2017. By analysing enrollment trends, distribution patterns, deposits and claims, this paper tries to understand the full potential of these schemes in ensuring empowerment and security to this segment of the population. [ABSTRACT FROM AUTHOR]
You can add money to your Apple Savings account through a linked bank account or from an Apple Cash balance. The current national average yield on savings accounts is only 0.39%, according to the FDIC, but many high-yield savings and money market deposit accounts now offer savings rates of over 4% (for top-yielding accounts, see the tables on page 65). But to open the savings account, you first need to apply for the Apple Card (iPhone users will find instructions in the Apple Wallet, and you'll undergo a credit check as part of the application process). [Extracted from the article]
MY MONEY BANKING The flipside of rising home loan repayments is better rates on savings accounts and term deposits. As at July, interest rates on savings accounts and term deposits ranged between 0.6% and 3.15%. Rates are lower on a six-month term deposit but still better than if your funds are sitting in an ordinary transaction or savings account. [Extracted from the article]
BUSINESS enterprises, BANK accounts, SHAREHOLDER activism, DEPOSIT accounts
Abstract
The firm said in an exchange filing Sunday that "the existing cash and bank balances of the company continue to be sufficient to meet its working capital, capital expenditures and material cash requirements from known contractual obligations for the next three years." (Bloomberg) -- Brii Biosciences Ltd. and Broncus Holding Corp. were among Hong Kong-listed firms that disclosed cash deposits at troubled US lender Silicon Valley Bank, with most emphasizing the amounts were immaterial to their operations. [Extracted from the article]
The article reports that some Wells Fargo customers experienced missing deposits due to a "technical issue," causing concerns about lost funds and potential bill payment delays, adding to frustrations with the bank's previous controversies.
BANKING industry, PAYMENT, BANK deposits, BANK accounts, DEPOSIT accounts
Abstract
The article discusses the reintroduction of the "Payments Modernization Act" by U.S Senators Chris Van Hollen and Elizabeth Warren, along with Republicans Ayanna Presley and Stephen Lynch aims to ensure that funds deposited in Americans' bank accounts are immediately available for withdrawal.
Citizens has launched a Carbon Offset Deposit Account to help corporate clients reduce carbon footprints. Clients can use the accounts to acquire carbon offsets with credits from their account, according to a press release. Citizens will also offer complimentary carbon... [ABSTRACT FROM AUTHOR]
BANK deposits, LEGAL tender, BANK accounts, DEPOSIT banking, DEPOSIT accounts
Abstract
That's the cutoff date for using the old notes set by the Bank of England, with new polymer notes featuring mathematician Alan Turing and artist J.M.W. Turner replacing the old paper variations. She says most UK banks will still accept the old paper notes after the deadline, and if not, it's always possible to do a postal exchange with the Bank of England. There are about £14 billion worth of paper £20 and £50 notes still in circulation, with 1.2 million people in the UK still relying on cash to make regular payments. [Extracted from the article]
BANKING industry, BANK accounts, DEPOSIT accounts, BANK deposits, POUND sterling, MONEY laundering
Abstract
According to a report from Kenya, Nigerian startup Flutterwave is facing trouble as its bank accounts have been frozen over allegations of irregularities. The country's high court has frozen 56 bank accounts, with Flutterwave owning more than 50 of them. The accounts were allegedly used for money laundering under the guise of providing merchant services. Flutterwave is accused of concealing the nature of its business by operating without authorization from the central bank of Kenya. Other companies, including Boxtrip Travels and Tours and Bagtrip Travels Ltd, also had their accounts frozen. [Extracted from the article]
DEPOSIT accounts, FINANCIAL services industry, BANK accounts, OPEN architecture (Computer science), FINANCIAL institution software
Abstract
The article discusses whether deposit accounts will be the next wave of financial technology (fintech) innovations. Topics discussed include opportunities in deposit innovation, benefits of Deposit Solutions which is said to be the first open architecture platform for retail deposits in Europe, and user stories to use to help identify what opportunities that might exist when it comes to devising the new breed of smart deposit accounts.
BRITISH banking industry, BANKING research, INTEREST rates, DEPOSIT banking, RETAIL banking, BANK accounts, DEPOSIT accounts
Abstract
This study examines whether geographical differences in deposit interest rate setting persists in a bank market with national bank branching. As most UK retail banks have located their branch networks in different combinations within the regions and nations of the United Kingdom, the availability of banking services across the United Kingdom differs. This study examines whether this uneven dispersion of bank branching is associated with deposit account interest rate setting by UK banks over the sample period 1992 to 2006. While banks with branch networks predominately located in certain regions set deposit interest rates at different levels, the degree of overlap between bank branch networks is not a significant factor in deposit interest rate setting. These findings have importance for the definition of banking markets in competition assessments and future assessments of interest rate setting within international banking markets where bank branching restrictions have been lifted. [ABSTRACT FROM AUTHOR]
STAY of proceedings (Criminal procedure), LAW enforcement, BAIL, SEARCHES & seizures (Law), CRIMINAL justice system, CRIMINAL procedure, BANK accounts, DEPOSIT accounts, CRIMINAL law
Abstract
Copyright of Romanian Journal of Compulsory Execution / Revista Română de Executare Silită is the property of Universul Juridic Publishing House and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)
DEPOSIT banking, BANKING industry, BANK accounts, DEPOSIT accounts, PERSONAL finance
Abstract
Though uninsured depositors are recognized as a source of market discipline, the possible disciplinary effect of decisions made by fully insured depositors have gone largely unexamined. Using proprietary administrative deposit data at the account level, this paper analyzes depositor behavior at a recently failed institution. The results suggest that although uninsured deposits exited at a greater rate than insured deposits, the vast majority of deposits withdrawn were fully insured. Among types of deposit accounts, the rates of withdrawal for fully insured individual, joint, and trust accounts were relatively high. Uninsured business account owners were highly sensitive to the bank's deteriorating condition. In contrast, owners of uninsured individual retirement accounts effectively exerted no market discipline. [ABSTRACT FROM AUTHOR]
DEPOSIT accounts, BANK accounts, CONSUMER protection, BANKING industry, CONSUMERS, INSIDER trading in securities, VOLCKER Rule (U.S.)
Abstract
The Consumer Financial Protection Bureau said in a policy statement that banks risk violating the prohibition on "unfair acts and practices," by reopening a consumer's deposit account to process transactions after the account has already been closed. [ABSTRACT FROM AUTHOR]
CAPITAL cities, DEPOSIT accounts, BANK accounts, FEDERAL budgets, URBAN planning, BUDGET deficits
Abstract
INA, as the fund is known, signed its first $3.75 billion deal in May with pension funds Caisse de dépôt et placement du Québec and APG Asset Management as well as Abu Dhabi Investment Authority to set up its first infrastructure-focused investment consortium. (Bloomberg) -- The board members of Indonesia's new wealth fund are set to be paid more than $5 million while leaving the fund's assets idling in deposit accounts for the first six months of the year. [Extracted from the article]
BANKING: Cash accounts BEST SMSF SAVINGS ACCOUNTS GOLD WINNERS BANK QUDOS MAJOR BANK BANK OF QUEENSLAND A decent interest rate, without fees, makes a difference to retirement savings Self-managed super funds are a force to be reckoned with in Australia, collectively controlling investments worth more than $822 billion. If you're among the 1.1 million Australians who are members of an SMSF, it's worth looking at our bank winner, the Qudos retirement savings account. HT
FEDERAL laws, OVERDRAFTS, CREDIT card laws, FINANCIAL disclosure, DEPOSIT accounts, CONSUMER credit, DRAFTS (Banking), OVERDRAFT banking, BANK accounts, GOVERNMENT policy
Abstract
The article discusses the federal laws on credit cards and overdraft services of financial institutions. It explains that such rule require changes to the financial institutions services such as disclosures on consumer credit card and deposit accounts. It explains the seven provisions of the proposed rule published by The Board of Governors of the Federal Reserve System, Office of Thrift Supervision and the National Credit Union Administration. It includes consumer credit card account practices rule such as time to make payment, allocation of payments and annual percentage rate increases on outstanding balances.
COLLATERAL security, SET-off & counterclaim, BANKING laws, DEPOSIT accounts, REGULATION of financial institutions, BANK accounts, BANKING industry, LEGAL settlement, CONSUMERS
Abstract
The article discusses about article 9 of the Uniform Commercial Code and how it significantly limit the security interest and set-off rights of a depository bank in consumer deposit accounts. According to the article, under the provisions of the Uniform Commercial Code, all security interests in non-consumer deposit accounts are under its rule with the exception of security interests in consumer deposit accounts as original collateral. It is also said that the Article 9 provides the depository bank favorable rights of set-off in the deposit account it keeps but just the same, this same right is also not applicable to those consumer deposit accounts as original collateral. This limited scope of Article 9 makes a difference to the regulation of security interests and set-off rights.
INVESTMENTS, SAVINGS accounts, BANK deposits, AUTOMATED teller machines, DEPOSIT accounts, BANK accounts
Abstract
The article discusses the pros and cons of several investment options. Traditional savings accounts generally offer additional interest to people who make at least one deposit and no withdrawals in a month. An online savings account allows a person to access your money at automated teller machines (ATMs) or branches. Term deposits do not permit regular deposits.
MONEY, TELEMARKETING, DEPOSIT accounts, CREDIT card fees, BANK accounts
Abstract
The article presents news and money tips. A U.S. Federal Trade Commission rule will require most prerecorded telemarketing spiels to include a way to stop future calls. Federal law prohibits banks and credit unions from using deposit accounts to offset credit-card debt. It is important to check whether bank accounts are fully covered by federal insurance.