Showing posts with label bank. Show all posts
Showing posts with label bank. Show all posts
Saturday, April 12, 2014
Special Bank Services That People Should Know About
There are quite bank services that are available to account holders. These are offered to attract new client. While it is certainly beneficial to use these institutions, they definitely benefit from your patronage. This is why they work hard to get more of your business.
Because there is such a variety of products that banking institutions make available, people should take time to learn more about each before selecting a business to work with. Most of these programs are structured to benefit specific consumer demographics. You might use your debit card when going to the store and should theore, opt for a company that give your rewards for this practice rather than charging you additional fees.
Look for options that best complement your spending and saving habits. If you routinely overdraft your checking account, you should always look for banks that allow you to link this account with your savings. Whenever there is insufficient funds while making a purchase or payment, your provider will draw upon your reserves.
When selecting account options, people focus quite a bit on the amount of interest they can ear. There are far more benefits, however, in assessing the rewards programs and special services that exist instead. Interest is not usually substantially and is credited quarterly. Rewards programs can provide immediate benefits every day.
The fees that are associated with these services, however, are vital to consider. If you do not pay attention, these can offset the benefits that are provided by any special programs. It is typically best to work with companies that keep their overheads low and can theore, pass these savings on to you.
Great bank services increase the value of opening new accounts. People only need to learn which offers will be most advantageous to them. When these products are tailored to match your saving and spending practice, you can get more benefits from your money.
Because there is such a variety of products that banking institutions make available, people should take time to learn more about each before selecting a business to work with. Most of these programs are structured to benefit specific consumer demographics. You might use your debit card when going to the store and should theore, opt for a company that give your rewards for this practice rather than charging you additional fees.
Look for options that best complement your spending and saving habits. If you routinely overdraft your checking account, you should always look for banks that allow you to link this account with your savings. Whenever there is insufficient funds while making a purchase or payment, your provider will draw upon your reserves.
When selecting account options, people focus quite a bit on the amount of interest they can ear. There are far more benefits, however, in assessing the rewards programs and special services that exist instead. Interest is not usually substantially and is credited quarterly. Rewards programs can provide immediate benefits every day.
The fees that are associated with these services, however, are vital to consider. If you do not pay attention, these can offset the benefits that are provided by any special programs. It is typically best to work with companies that keep their overheads low and can theore, pass these savings on to you.
Great bank services increase the value of opening new accounts. People only need to learn which offers will be most advantageous to them. When these products are tailored to match your saving and spending practice, you can get more benefits from your money.
About the Author:
Want to find out more about a Bank Services? then visit Professional Bank Services for your bank consulting needs.
Thursday, April 10, 2014
Debt restructuring on hospitals debt bank withdrawals
Four things of interest are happening these last few days in Greece
a) The annual budget is apparently succeeding in containing the deficits, but in reality it is not. Expenses are not paid and thus the state sector is having problems in its operations (especially hospitals). Additionally state investments are underfunded, relatively to the committed amount they have from the budget.
By showing that the budget is achieving is targets to cut deficits, the government can take the next loan payment by the IMF+EU. (Theres a periodical three-month check to ensure targets are met)
b) Hospital debt (~7 bn) has been restructured. Suppliers will end up getting approximately 20% less than theyre owed.
c) Bank Of Greece is delaying bank deposits reports in order not to cause panic. Normally they require approximately 10-15 days after the end of a given month in order to issue the data. Now this number has been brought to 45 days. For example Aprils 2010 deposit data was published just today. In April was recorded the biggest single loss of deposits over a months period, approximately 9 billion euros. You can find this report here
d) People are booing politicians wherever they go. The media do not report these incidents.
ReadThe RestEntry..
a) The annual budget is apparently succeeding in containing the deficits, but in reality it is not. Expenses are not paid and thus the state sector is having problems in its operations (especially hospitals). Additionally state investments are underfunded, relatively to the committed amount they have from the budget.
By showing that the budget is achieving is targets to cut deficits, the government can take the next loan payment by the IMF+EU. (Theres a periodical three-month check to ensure targets are met)
b) Hospital debt (~7 bn) has been restructured. Suppliers will end up getting approximately 20% less than theyre owed.
c) Bank Of Greece is delaying bank deposits reports in order not to cause panic. Normally they require approximately 10-15 days after the end of a given month in order to issue the data. Now this number has been brought to 45 days. For example Aprils 2010 deposit data was published just today. In April was recorded the biggest single loss of deposits over a months period, approximately 9 billion euros. You can find this report here
d) People are booing politicians wherever they go. The media do not report these incidents.
Monday, March 31, 2014
Global Bank Heist Cyprus Has Crossed The Rubicon
In the ancient Roman Empire, the Rubicon River north of Rome became the point of no return for other armies: If they crossed over it heading south toward the capital, the Romans would take the action as an act of war. And there was no turning back once a potential enemy crossed the Rubicon: They had flagged themselves as an enemy of Rome.
Today, the money grab in Cyprus has actually become the Rubicon for international monetary and government elites. In their brazen plan to seize a great section of the banking assets of rich Cypriots-- whatever the final decision-making exercised by European Union authorities -- the European powers have actually crossed their own point of no return.
In our case, here in America, we have to respond individually as Rome did collectively to such an obvious danger. Our only option-- the only way to "fight back" in a meaningful way -- is to withdraw as much as possible from the worldwide monetary system and shift all our family assets into real money, which is gold and silver.
The mouthpieces of the New World Order syndication keep firmly insisting that what is occurring in Cyprus cannot and will not be duplicated anywhere else in the western world. They reassure us that American bank depositors, for example, have no reason to be afraid. Their federal government would never make such a push. They pitch absurd theories about the substantial distinctions between the economic climates of Cyprus and the United States, and how the Cypriot financial sector primarily is a front for laundering Russian drug money. Its one tall story after another to lull the aroused American investor back to sleep.
But dont you be fooled for even a single minute. By seizing, in broad daylight, the legally collected wealth of affluent residents of Cyprus, the worldwide monetary interests are informing us that they have actually crossed the Rubicon -- and now they have no choice but to continue their money grab from the rest of us.
It will happen everywhere in the world, in Western democracies," Marc Faber said on Tuesday on CNBC. The so-called contrarian investor" said one reason he fears more widespread use of the Cypriot maneuver by other western governments is their popular support among their citizenry for taking such actions against the increasingly concentrated wealth in each country.
You have more people that vote for a living than work for a living," he said. I think you have to be prepared to lose 20 to 30 percent [of assets]. I think youre lucky if you dont lose your life."
Today, the money grab in Cyprus has actually become the Rubicon for international monetary and government elites. In their brazen plan to seize a great section of the banking assets of rich Cypriots-- whatever the final decision-making exercised by European Union authorities -- the European powers have actually crossed their own point of no return.
In our case, here in America, we have to respond individually as Rome did collectively to such an obvious danger. Our only option-- the only way to "fight back" in a meaningful way -- is to withdraw as much as possible from the worldwide monetary system and shift all our family assets into real money, which is gold and silver.
The mouthpieces of the New World Order syndication keep firmly insisting that what is occurring in Cyprus cannot and will not be duplicated anywhere else in the western world. They reassure us that American bank depositors, for example, have no reason to be afraid. Their federal government would never make such a push. They pitch absurd theories about the substantial distinctions between the economic climates of Cyprus and the United States, and how the Cypriot financial sector primarily is a front for laundering Russian drug money. Its one tall story after another to lull the aroused American investor back to sleep.
But dont you be fooled for even a single minute. By seizing, in broad daylight, the legally collected wealth of affluent residents of Cyprus, the worldwide monetary interests are informing us that they have actually crossed the Rubicon -- and now they have no choice but to continue their money grab from the rest of us.
It will happen everywhere in the world, in Western democracies," Marc Faber said on Tuesday on CNBC. The so-called contrarian investor" said one reason he fears more widespread use of the Cypriot maneuver by other western governments is their popular support among their citizenry for taking such actions against the increasingly concentrated wealth in each country.
You have more people that vote for a living than work for a living," he said. I think you have to be prepared to lose 20 to 30 percent [of assets]. I think youre lucky if you dont lose your life."
About the Author:
Looking to find the best deal on gold and silver? Also, visit Anne Trimbles site to find the best advice on surviving crisis by reading her autobiography Faith Through The Flames.
Sunday, March 23, 2014
Bank Economist See Acceleration After Fiscal Cliff Drag
The fiscal cliff agreement has created headwinds early in 2013, resulting in an economy that will grow slowly in the first half of the year before improving to a moderate pace in the second half, according to the Economic Advisory Committee of the American Bankers Association. The committee warns that the tax hikes, a protracted fight over the debt ceiling and the possibility of severe spending cuts in 2013 have the potential to stop our economy in its tracks.
According to the committee, which includes 13 chief economists from among the largest banks in North America, inflation-adjusted GDP growth for the first half of 2013 will be below 2 percent, and is expected to increase to 2.6 percent in this year’s fourth quarter.
The group believes the economy will be shaped this year by the struggle between private sector momentum and the inevitable fiscal drag that comes from the tax and spending decisions made by Congress.
The private sector economy appears poised for sustainable growth. However, the tax hikes made at the start of 2013 will create a drag on GDP growth of at least 1.25 percent, and additional budget cuts from sequestration could further restrain growth.
“If you double down on austerity this year, you’re flirting with recession,” Scott Anderson, committee chairman and Bank of the West chief economist, said. “Resolving the debt ceiling and providing clarity on taxes and spending will boost confidence, opening the door for faster growth at a critical point in the economic expansion.”
While job creation is expected to weaken in the first half of 2013, the bank economists predict that unemployment will continue its slow but steady decline.
“The committee’s consensus is that unemployment will fall to 7.4 percent by year-end,” Anderson said.
The committee sees the housing recovery gaining strength this year, with improving construction levels and rising home sales and prices combining to bolster the housing market in 2013. The committee forecast is that home prices nationwide will rise 4.3 percent and residential investment will increase 12.9 percent.
“Rising home prices create a wealth effect that’s critical to supporting consumer spending and economic expansion,” Anderson said.
According to the committee, consumer spending growth will be positive, but will not improve from last year’s pace. Consumer spending, which represents 70 percent of the economy, is expected to grow only 1.8 percent for 2013 as a whole - about the same as last year.
“We expect consumer spending to slow in the first half of this year as higher taxes reduce consumers’ take-home pay,” Anderson said. “Consumer spending will pick up in the second half of 2013 as housing activity and consumer confidence gain strength.”
While the committee forecasts a slight rise in long-term interest rates, short-term rates will remain exceptionally low in 2013.
“Short-term interest rates are anchored by current Fed monetary policy,” Anderson said. The committee noted that the Federal Reserve has adopted thresholds of 2.5 percent on its inflation forecast and 6.5 percent on the unemployment rate before it would consider raising the Fed Funds rate.
“The committee doesn’t see the unemployment rate falling to 6.5 percent until May 2015,” Anderson said.
The bank economists forecast that credit growth in 2012 will continue this year. Loans to businesses are expected to grow 6.5 percent in 2013, while loans to individuals are expected to increase 5.0 percent.
“The increase in business lending shows that banks are doing their part to make loans that finance our economy,” Anderson said.
The group sees the federal budget deficit continuing to decline, but remaining at unsustainably high levels. The committee’s forecast is for the federal deficit to fall to $925 billion in 2013 and to $738 billion in 2014 (down from $1.1 trillion in 2012).
“While budget deficits continue to fall, addressing the federal debt as a whole is still a work in progress,” Anderson said. “Much more needs to be done to reduce the federal deficit over the long term.”
The members of the 2013 ABA Economic Advisory Committee are:
ReadThe RestEntry..
According to the committee, which includes 13 chief economists from among the largest banks in North America, inflation-adjusted GDP growth for the first half of 2013 will be below 2 percent, and is expected to increase to 2.6 percent in this year’s fourth quarter.
The group believes the economy will be shaped this year by the struggle between private sector momentum and the inevitable fiscal drag that comes from the tax and spending decisions made by Congress.
The private sector economy appears poised for sustainable growth. However, the tax hikes made at the start of 2013 will create a drag on GDP growth of at least 1.25 percent, and additional budget cuts from sequestration could further restrain growth.
“If you double down on austerity this year, you’re flirting with recession,” Scott Anderson, committee chairman and Bank of the West chief economist, said. “Resolving the debt ceiling and providing clarity on taxes and spending will boost confidence, opening the door for faster growth at a critical point in the economic expansion.”
While job creation is expected to weaken in the first half of 2013, the bank economists predict that unemployment will continue its slow but steady decline.
“The committee’s consensus is that unemployment will fall to 7.4 percent by year-end,” Anderson said.
The committee sees the housing recovery gaining strength this year, with improving construction levels and rising home sales and prices combining to bolster the housing market in 2013. The committee forecast is that home prices nationwide will rise 4.3 percent and residential investment will increase 12.9 percent.
“Rising home prices create a wealth effect that’s critical to supporting consumer spending and economic expansion,” Anderson said.
According to the committee, consumer spending growth will be positive, but will not improve from last year’s pace. Consumer spending, which represents 70 percent of the economy, is expected to grow only 1.8 percent for 2013 as a whole - about the same as last year.
“We expect consumer spending to slow in the first half of this year as higher taxes reduce consumers’ take-home pay,” Anderson said. “Consumer spending will pick up in the second half of 2013 as housing activity and consumer confidence gain strength.”
While the committee forecasts a slight rise in long-term interest rates, short-term rates will remain exceptionally low in 2013.
“Short-term interest rates are anchored by current Fed monetary policy,” Anderson said. The committee noted that the Federal Reserve has adopted thresholds of 2.5 percent on its inflation forecast and 6.5 percent on the unemployment rate before it would consider raising the Fed Funds rate.
“The committee doesn’t see the unemployment rate falling to 6.5 percent until May 2015,” Anderson said.
The bank economists forecast that credit growth in 2012 will continue this year. Loans to businesses are expected to grow 6.5 percent in 2013, while loans to individuals are expected to increase 5.0 percent.
“The increase in business lending shows that banks are doing their part to make loans that finance our economy,” Anderson said.
The group sees the federal budget deficit continuing to decline, but remaining at unsustainably high levels. The committee’s forecast is for the federal deficit to fall to $925 billion in 2013 and to $738 billion in 2014 (down from $1.1 trillion in 2012).
“While budget deficits continue to fall, addressing the federal debt as a whole is still a work in progress,” Anderson said. “Much more needs to be done to reduce the federal deficit over the long term.”
The members of the 2013 ABA Economic Advisory Committee are:
- EAC Chair Scott A. Anderson, SVP and chief economist, Bank of the West, San Francisco, Calif.
- Scott J. Brown, SVP and chief economist, Raymond James & Associates, Inc., St. Petersburg, Fla.;
- Robert A. Dye, SVP and chief economist, Comerica Bank, Dallas;
- Ethan S. Harris, co-head of global economics research, Bank of America Merrill Lynch, New York;
- Stuart G. Hoffman, chief economist, PNC Financial Services Group, Pittsburgh;
- Peter Hooper, managing director and chief economist, Deutsche Bank Securities Inc., New York;
- Nathaniel Karp, EVP and chief economist, BBVA Compass, Houston;
- Bruce C. Kasman, chief economist, JP Morgan Chase & Company, New York;
- Christopher Low, chief economist, First Horizon National Corp’s FTN Financial, New York;
- Gregory L. Miller, SVP and chief economist, SunTrust Banks, Inc., Atlanta;
- George Mokrzan, director of economics, Huntington National Bank, Columbus, Ohio;
- Richard F. Moody, SVP and chief economist, Regions Financial Corporation, Birmingham, Ala.; and
- Carl R. Tannenbaum, SVP and chief economist, Northern Trust, Chicago
Wednesday, March 5, 2014
Ways and Means Panel Members Call Bank Tax ‘Bad Idea’
The $61 billion bank tax in the administration’s fiscal year 2013 budget proposal is a “bad idea,” House Ways and Means Committee members Aaron Schock (R-Ill.) and Erik Paulsen (R-Minn.) said yesterday in a “Dear Colleague” letter.
“This is a bad idea for several reasons, least of which is that it’s a mistake to raise taxes as our economy struggles to rebound,” they said. “It is important to remember that $1 of bank capital can support up to $10 in lending, which means that a 10-year tax of $61 billion would result in up to $600 billion in loans that would not be made over that 10-year period.”
Schock and Paulsen also attached a Washington Post editorial to the letter that points out that the Treasury Department has turned a $13 billion profit on the bank portion of the Troubled Asset Relief Program. ABA has made similar points in explaining its strong opposition to the bank tax.
Read the letter.
ReadThe RestEntry..
“This is a bad idea for several reasons, least of which is that it’s a mistake to raise taxes as our economy struggles to rebound,” they said. “It is important to remember that $1 of bank capital can support up to $10 in lending, which means that a 10-year tax of $61 billion would result in up to $600 billion in loans that would not be made over that 10-year period.”
Schock and Paulsen also attached a Washington Post editorial to the letter that points out that the Treasury Department has turned a $13 billion profit on the bank portion of the Troubled Asset Relief Program. ABA has made similar points in explaining its strong opposition to the bank tax.
Read the letter.
Wednesday, January 29, 2014
Funds Exempt From Bank Account Garnishment
Its an all-too-common scenario: A consumer goes to pull money out of the ATM, buy groceries or pay for dinner and lo-and-behold! His card is no longer authorized.
Did the bank make a mistake? Has he been robbed via identity theft? No, hes just another victim of the mandatory checking account freeze prior to bank account garnishment by a collection agency.
Funds Exempt From Bank Garnishment
When your bank receives notice from a collection agency that it has a writ of garnishment in hand and intends to garnish your bank accounts, it will freeze your accounts and notify you of the garnishment after the freeze is securely in place. This prevents you from immediately moving your money to a safer place (which everyone with any sense would promptly do, given half a chance).
Then again...your bank doesnt have the right to freeze everything. Your bank must release the following forms of income immediately:
- Child support
- Military annuities
- Social Security
- Retirement benefits
- Survivors benefits
- Unemployment pay
- Public assistance
- Alimony
- Workers Compensation
Bank Account Garnishment Exemption Claims
Dont think that your bank will be kind enough to look into your deposit records and determine for itself how much of your money is exempt from garnishment. No, its up to you to inform your bank of your exemptions, prove your case, and push the issue until your bank releases the funds. The U.S. Department of the Treasury clearly states that a bank cannot turn exempt funds over to a collection agency if the consumer has filed an exemption.
Will your bank be kind enough to immediately mail you an exemption form? Maybe, but probably not. If you know you have exempt funds within your account, be prepared to visit the bank in person, armed with copies of your checks and your deposit records to get your exemptions worked out.
Friday, January 10, 2014
ABA Comments on FDIC Bank Earnings Report
By James Chessen, ABA Chief Economist
“The banking industry’s performance continues to improve significantly. Increases in business lending, strong capital levels and a reduction in problem loans speak to an industry that’s gaining strength. Challenges remain, including the daunting fiscal decisions ahead for both the United States and Europe. The manner in which these issues are resolved will have a significant impact on our country’s pace of economic growth. The banking industry has worked hard to fortify itself for these and other challenges that lay ahead.”
Business Loans Grow for Eighth Consecutive Quarter
“Banks continue to aggressively seek out business loans, and our industry’s double-digit lending growth over the last year is a testament to those efforts. The industry’s business lending increased by 15.1 percent year-over-year. Unfortunately, the atmosphere has started to change. Our business customers are telling us that they are hesitant to expand or take on more debt in today’s uncertain environment. In addition, the housing sector continues to be a drag on total lending volume, and will limit loan growth to a gradual pace for the foreseeable future.”
Bank Earnings Grow Despite Challenges
"Strong business loan growth and aggressive cost controls are helping banks maintain earnings despite a challenging economic environment. At the same time, knowledge that interest rates will remain low for years means businesses feel no urgency to borrow. Ultimately, the pace of the economy will determine whether businesses decide to expand operations and how quickly banks’ core lending business will return.”
Problem Loans Fall, Failures Continue to Decline
“The industry’s asset quality continues to improve, with problem loans falling to levels not seen since the first quarter of 2009. The number of problem banks fell to the lowest level in ten quarters, and bank failures continue to fall dramatically. Banks, not taxpayers, are solely responsible for all of the FDIC’s expenses, paying about $13.5 billion in premiums over the last year.”
Capital Continues to Grow
“The industry’s capital ratios are at or near record levels, a strong foundation that provides an important buffer for any economic circumstances or challenges that could arise. Banks have added almost $316 billion in capital since 2008 when the financial crisis took hold. Total industry capital is now almost $1.6 trillion. Banks also have set aside more than $176 billion in reserves to cover possible loan losses. Capital plus reserves gives a total buffer protecting the industry of more than $1.78 trillion.”
ReadThe RestEntry..
“The banking industry’s performance continues to improve significantly. Increases in business lending, strong capital levels and a reduction in problem loans speak to an industry that’s gaining strength. Challenges remain, including the daunting fiscal decisions ahead for both the United States and Europe. The manner in which these issues are resolved will have a significant impact on our country’s pace of economic growth. The banking industry has worked hard to fortify itself for these and other challenges that lay ahead.”
Business Loans Grow for Eighth Consecutive Quarter
“Banks continue to aggressively seek out business loans, and our industry’s double-digit lending growth over the last year is a testament to those efforts. The industry’s business lending increased by 15.1 percent year-over-year. Unfortunately, the atmosphere has started to change. Our business customers are telling us that they are hesitant to expand or take on more debt in today’s uncertain environment. In addition, the housing sector continues to be a drag on total lending volume, and will limit loan growth to a gradual pace for the foreseeable future.”
Bank Earnings Grow Despite Challenges
"Strong business loan growth and aggressive cost controls are helping banks maintain earnings despite a challenging economic environment. At the same time, knowledge that interest rates will remain low for years means businesses feel no urgency to borrow. Ultimately, the pace of the economy will determine whether businesses decide to expand operations and how quickly banks’ core lending business will return.”
Problem Loans Fall, Failures Continue to Decline
“The industry’s asset quality continues to improve, with problem loans falling to levels not seen since the first quarter of 2009. The number of problem banks fell to the lowest level in ten quarters, and bank failures continue to fall dramatically. Banks, not taxpayers, are solely responsible for all of the FDIC’s expenses, paying about $13.5 billion in premiums over the last year.”
Capital Continues to Grow
“The industry’s capital ratios are at or near record levels, a strong foundation that provides an important buffer for any economic circumstances or challenges that could arise. Banks have added almost $316 billion in capital since 2008 when the financial crisis took hold. Total industry capital is now almost $1.6 trillion. Banks also have set aside more than $176 billion in reserves to cover possible loan losses. Capital plus reserves gives a total buffer protecting the industry of more than $1.78 trillion.”
Wednesday, November 27, 2013
Fed to Release Large Bank Stress Test Results
The Federal Reserve announced that on Thursday afternoon it will release the results of the latest round of stress tests performed on 19 major U.S. banks. The 19 institutions had submitted in early January comprehensive capital plans describing their strategies over a nine-month period in the event of a crisis.
The supervisory stress scenario examined whether the banks could withstand a crisis in which unemployment hits 13%, stocks fall 50%, and housing prices drop 21%.
The Fed has released a paper on the stress-tests’ methodology, and templates showing the categories that will be disclosed in the results.
Read the Federal Reserve’s press release.
Read the methodology paper.
View the template of Supervisory Stress Scenario Results.
ReadThe RestEntry..
The supervisory stress scenario examined whether the banks could withstand a crisis in which unemployment hits 13%, stocks fall 50%, and housing prices drop 21%.
The Fed has released a paper on the stress-tests’ methodology, and templates showing the categories that will be disclosed in the results.
Read the Federal Reserve’s press release.
Read the methodology paper.
View the template of Supervisory Stress Scenario Results.
Monday, October 14, 2013
Non bank Lenders Offer 10k Special To Bad Credit Borrowers
Folks with less than sterling credit, and many with good credit, are finding it hard to get an unsecured loan, especially from traditional lenders such as brick and mortar banks and credit unions. Those with poor credit will find that getting approval for a personal loan from a non-bank lender is far greater than getting one from a traditional lender
Also, traditional lenders are operating under a self-imposed credit crunch and have tightened their underwriting criteria, reduced loan amounts, and limited new lending. Most will not even consider a loan application that does not show a sterling credit history. But, that is why non-bank lenders exist and they can offer a wide array of lending programs with no credit check and for amounts up to ,000. These loans require no collateral and qualifications are relatively easy to meet.
Employment Tenure and Salary
Most any lender, whether traditional or non-bank, needs to establish some minimal guidelines to increase the possibility of repayment. Usually that begins with having a steady job with an income that shows a good debt-to-income ratio. Lenders like to see at least 90 days on the job with the same company. Some may require six months. Anyway, the longer you have been employed at one place, the better. Lenders consider steady employment to be a sign of stability.
Direct Deposit Bank Account
To be seriously considered for a personal loan from a non-bank lender you should have a valid direct-deposit bank account. A checking account would furnish you with the minimum requirement. However, if you also had a savings or money market account, your credibility would be greatly increased in the eyes of the lender. Usually a lender likes to see three months worth of bank statements to approve your loan. Hopefully it will be pretty clear of serious red marks such as NSF checks, excessive overdrafts, and similar bad marks.
Who Are You and Where Do You Live?
Many non-bank lenders operate online. You may never even see each other in the process of application. Many of them can check your credentials using online resources. But if they cannot, they will ask you to fax or send a scan of a bona fide picture ID. They may also require a utility bill as proof of residence. Some lenders may require other documents. Usually, the greater the amount you have requested, the more documentation you may be asked to supply.
Shopping for the Best Lender
Your credit score, your income, your residency all play a role in the approval process and will influence your approval. Understand that some lenders will approve your application while another may reject it. Do not be discouraged. Sometimes a lender just might be in a bad mood. They all have different policies and different approval thresholds.
Anyhow, make multiple applications and you will get multiple approvals, thus allowing you to choose the best rates and terms. The internet has made it extremely facile to apply and get approved for a loan without spending too much time or energy. Approval is quick and you can usually have money in your account within 24 hours.
ReadThe RestEntry..
Also, traditional lenders are operating under a self-imposed credit crunch and have tightened their underwriting criteria, reduced loan amounts, and limited new lending. Most will not even consider a loan application that does not show a sterling credit history. But, that is why non-bank lenders exist and they can offer a wide array of lending programs with no credit check and for amounts up to ,000. These loans require no collateral and qualifications are relatively easy to meet.
Employment Tenure and Salary
Most any lender, whether traditional or non-bank, needs to establish some minimal guidelines to increase the possibility of repayment. Usually that begins with having a steady job with an income that shows a good debt-to-income ratio. Lenders like to see at least 90 days on the job with the same company. Some may require six months. Anyway, the longer you have been employed at one place, the better. Lenders consider steady employment to be a sign of stability.
Direct Deposit Bank Account
To be seriously considered for a personal loan from a non-bank lender you should have a valid direct-deposit bank account. A checking account would furnish you with the minimum requirement. However, if you also had a savings or money market account, your credibility would be greatly increased in the eyes of the lender. Usually a lender likes to see three months worth of bank statements to approve your loan. Hopefully it will be pretty clear of serious red marks such as NSF checks, excessive overdrafts, and similar bad marks.
Who Are You and Where Do You Live?
Many non-bank lenders operate online. You may never even see each other in the process of application. Many of them can check your credentials using online resources. But if they cannot, they will ask you to fax or send a scan of a bona fide picture ID. They may also require a utility bill as proof of residence. Some lenders may require other documents. Usually, the greater the amount you have requested, the more documentation you may be asked to supply.
Shopping for the Best Lender
Your credit score, your income, your residency all play a role in the approval process and will influence your approval. Understand that some lenders will approve your application while another may reject it. Do not be discouraged. Sometimes a lender just might be in a bad mood. They all have different policies and different approval thresholds.
Anyhow, make multiple applications and you will get multiple approvals, thus allowing you to choose the best rates and terms. The internet has made it extremely facile to apply and get approved for a loan without spending too much time or energy. Approval is quick and you can usually have money in your account within 24 hours.
Sunday, September 15, 2013
Student Loans Through Bank of America
College costs can add up fast. Once youve been able to cover tuition, there are many other education-related expenses such as books, housing, food, and lab fees. With all these expenses, student loans become a great option.
Bank of America offers the CampusEdge student loan. With CampusEdge a student can get up to $50,000 per year as long as the loan total does not go beyond the estimated cost of attendance, minus other financial aid.
This money is sent directly to you, and you can defer payment until graduation, with the flexibility to make interest-only payments for up to 2 years following graduation. Principle and interest payments may be postponed for up to seven years while registered in a participating schools undergraduate program. Interest will accrue and will be added to your loan quarterly while in deferment and once at the beginning of repayment.
Bank of America makes the application process easy.
Apply online or by phone at any time, with no school certification needed.
You can apply without a co-borrower, but you may increase your chance of approval by applying with a credit worthy co-borrower.
Receive conditional approval in as little as fifteen minutes.
Funds will be sent in as few as five business days of final loan approval.
Make it easier to fund your degree. Apply today at bankofamerica.com/campusedgeloan or call 1-866-457-4080.
NOTE: Credit is subject to approval. Certain restrictions may apply. Programs, rates, terms, and conditions may change without notice.
REMEMBER: Before applying for any loan, carefully research to make sure you are getting the best deal and never sign a contract that you havent read. Make sure you know what you are getting into. Bank of America isnt the only place to get a private loan. You may wish to check out other places as well if you want to get the lowest rate.
About the Author
Tuesday, June 11, 2013
Taxpayers Continue to Gain from TARP Bank Programs
Banks continue to exit the Trouble Asset Relief Program (TARP), repaying the U.S. Department of Treasury’s investments beyond expectations. The Treasury announced it has priced secondary public offerings of the preferred stock it holds in seven financial institutions this week. The aggregate net proceeds from the seven offerings are expected to be approximately $204 million.
TARP’s bank programs have already earned a significant profit for taxpayers. Including the expected proceeds from the transactions announced today, Treasury has recovered $264 billion from TARP’s bank programs through repayments, dividends, interest, and other income—a $19 billion positive return. Each additional dollar recovered from TARP’s bank programs is an additional dollar of profit for taxpayers.
Treasury has announce it expects to begin its first in a series of pooled auctions of CPP preferred stock later this year, and will continue with individual auctions as early as late July. Treasury has indicated it intends to use a combination of repayments, restructurings, and sales to recover the remaining investments.
Read Treasury’s press release.
Read ABA’s white paper: TARP Bank Programs Have Been Paid Back in Full.
ReadThe RestEntry..
TARP’s bank programs have already earned a significant profit for taxpayers. Including the expected proceeds from the transactions announced today, Treasury has recovered $264 billion from TARP’s bank programs through repayments, dividends, interest, and other income—a $19 billion positive return. Each additional dollar recovered from TARP’s bank programs is an additional dollar of profit for taxpayers.
Treasury has announce it expects to begin its first in a series of pooled auctions of CPP preferred stock later this year, and will continue with individual auctions as early as late July. Treasury has indicated it intends to use a combination of repayments, restructurings, and sales to recover the remaining investments.
Read Treasury’s press release.
Read ABA’s white paper: TARP Bank Programs Have Been Paid Back in Full.
Thursday, May 23, 2013
Bank stress tests
The issue of bank stress tests has been on the focus of mainstream media lately. However these stress tests are not really reliable: Most banks right now are operating with government help, a sure indication that they should have already been compromised in their operations had they not received this help. So how can they really claim that they are in any way "healthy"?
There is one exception however: The Greek Post Bank. This bank has very good indexes due to following a "safe" policy during the growth period.
Greek Post Bank and Agrotiki Bank (the state has a stake in both of them) have been targets of acquisition by the problematic, private-owned Piraeus bank (it marginally passed the stress test). Piraeus bank wants to acquire the Post Bank and Agrotiki in order to improve its own problematic position - mainly through the money that Post Bank has. Agrotiki on the other hand has indirect control of 40% of farmers land in Greece and is a huge leverage power for any private institution to control. The money offered by Piraeus are ridiculous and even if it was triple the initial offer, it would still be ridiculous - given whats happening. How can a problematic bank buy 2 banks bigger than itself which both have really enormous money or land capital?
For comparisons sake, the state received 328mn euro in 2006 for selling just 7.18% of Agrotiki bank, and now Piraeus Bank offers 370 mn to buy a stake of 77.3% (!!!).
The Greek media are propagandizing in favor of Piraeus buying Agrotiki and Post Bank and there have even been opinion poll metrics to check for peoples reaction to propaganda. In the meanwhile the media overplay the fact that Agrotiki failed the stress test and downplay entirely the exceptional performance of the Post Bank. This is done so that the public opinion is shaped to think that Piraeus will relieve the state of problematic banks.
It is entirely possible that Piraeus is just a vehicle of foreign interests in order to control the Greek banking system and the Greek land. Piraeus simply do not have enough money to save itself - how can it proceed to buy the two banks? This is fishy, to say the least.
ReadThe RestEntry..
There is one exception however: The Greek Post Bank. This bank has very good indexes due to following a "safe" policy during the growth period.
Greek Post Bank and Agrotiki Bank (the state has a stake in both of them) have been targets of acquisition by the problematic, private-owned Piraeus bank (it marginally passed the stress test). Piraeus bank wants to acquire the Post Bank and Agrotiki in order to improve its own problematic position - mainly through the money that Post Bank has. Agrotiki on the other hand has indirect control of 40% of farmers land in Greece and is a huge leverage power for any private institution to control. The money offered by Piraeus are ridiculous and even if it was triple the initial offer, it would still be ridiculous - given whats happening. How can a problematic bank buy 2 banks bigger than itself which both have really enormous money or land capital?
For comparisons sake, the state received 328mn euro in 2006 for selling just 7.18% of Agrotiki bank, and now Piraeus Bank offers 370 mn to buy a stake of 77.3% (!!!).
The Greek media are propagandizing in favor of Piraeus buying Agrotiki and Post Bank and there have even been opinion poll metrics to check for peoples reaction to propaganda. In the meanwhile the media overplay the fact that Agrotiki failed the stress test and downplay entirely the exceptional performance of the Post Bank. This is done so that the public opinion is shaped to think that Piraeus will relieve the state of problematic banks.
It is entirely possible that Piraeus is just a vehicle of foreign interests in order to control the Greek banking system and the Greek land. Piraeus simply do not have enough money to save itself - how can it proceed to buy the two banks? This is fishy, to say the least.
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