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Bank of America Closing Branches
Bank of America is closing branches all across the country to cut back on expenses. Bank of America is planning on closing 10% of its branches which would equate to around 610 branch closings. Bank of...
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Colonial Bank Raid
Federal agents executed a raid on Colonial Bank’s headquarters in Orlando Florida in conjunction with the US Treasury’s TARP fund program. Almost nothing is known about the raid, what they were looking...
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Obama Banks | Who Will Step Up Their Game?
President Barack Obama recently called on banks to help out the country that bailed them out. So my question now is which bank is going to step up their game and respond to this call? Any of them?...
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Check Kiting
Check kiting is a form of fraud where checks are bounced between 2 checking accounts. A check is written from the criminal’s checkbook from one bank and deposited into a second bank. The funds then...
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Merchant Bank
A merchant bank is a commercial bank that meets the banking needs of international finance. This is not the type of bank where customers open a savings of checking account or offers online banking. A...
View ArticleMan in the Browser Attack
A man in the browser attack is a hack that can steal login information and financial account details. The attack uses Trojans and phishing techniques to gain access to a computer and steal the targets...
View ArticleFractional-Reserve Banking
Fractional-reserve banking is a type of banking where the bank only needs to keep a fraction of their actual deposits on premises. Almost every bank operates under this type of system because this is...
View ArticleBroad Money Definition
The definition of broad money is the assessment of a country or market’s money supply. An understanding of broad money can be very useful when determining which markets or currencies to invest in....
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Bromoney Rate Table Updates
Happy holidays to everyone! I know I haven’t posted for a while but I’ll be back posting regularly again after a long break for Bromoney. I’ve updated the CD rate tables and savings account rate table...
View ArticleBank of the Eastern Shore Closed by FDIC
The FDIC shut down the Bank of the Eastern Shore in Maryland on Friday bringing the total bank failures to 22 this year. That’s down from 39 bank failures at the same point last year. Four other banks...
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