Different Options Online Banking

More people are getting motivated to save money because the online banking options are more appealing. People have found that they can open a checking account at an online banking site and enjoy all of the conveniences that they already enjoy at a land-based bank in their local community. People can enjoy online savings too when they do their banking online because online banking institutions do not charge any fees to open an account with their firm.

The online banking options all people to get cash whenever they need it too. People have the option of paying an annual fee for a name brand credit card, or they can use the debit card awarded when the online banking account was established free throughout the year. People are finding that they can use the debit cards to withdraw cash from any automatic teller machine in the country and the available cash limits are very generous and allow people to earn money at the same time.

The small fees charged by ATMs add up over a year and some online banking options will reimburse customers for that expense if it is one of the options they select when the account was opened. The online banking options allow banking customers to establish checking and savings accounts that accrue interest at rates that are above what is offered by land-based banks. Online banking customers do not have to worry about idle cash because the online banking options are constantly working on their behalf to make their money and businesses grow.

People enjoy the convenience of making purchases online with the online banking options they have established. Since all funds in an online bank are fully insured, online banking customers know that is safe and secured 24-hours a day. Online purchases are protected by many Laws, and the threat of any fraud occurring is very minute. Online banks are just as safe as the commercial banking institutions around town because encryption software protects personal information provided online.

The best online banking options can be enjoyed all the time because the online banks never charge fees for the online banking options they offer. People can pay bills online and not worry about paying late fees ever again. They can use the online banking options to save money in savings account and through investment portfolios. Whichever online banking options are selected, online banking customers know that they will reap greater rewards by banking online. All of the money in any account is assured of growing in size because each account earns a daily interest rate for all money that remains in the account.

Some of the online banking options will help people save for retirement. One of the online banking options allows customers to open certificate of deposits which accrue interest over the period of a year, or in as little as six months. People can build an attractive nest egg through U.S. money market accounts and people can also enjoy using those funds when retirement time finally rolls around. The online banking options allow people to track interest rate averages for CD accounts and make elections online which saves people a lot of personal time.

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The Banks Massive Government Bailout

The news has been dominated in recent weeks by talk of the massive government bailout of the commercial banking industry. The government didn’t just throw this money around aimlessly, though. Instead, they have slotted the funds for the 9 banks of the bailout, which are all in desperate need of federal help in order to keep their operation viable. So who are these 9 banks of the bailout and what is their current situation looking like? This article will detail each of them.

Bank of America. Bank of America received a $15 billion investment from the federal government. This is one company that has been in trouble for quite some time, as they have seen their entire operation saved by the money provided with the bailout plan. Though they did not get as much money as some of the other banks out there, Bank of America did get enough to survive. What the bailout means for them is that they will have the ability to operate and probably dominate the changing global economy over the next few years.

Wells Fargo. This is one bank that benefitted from a large federal investment. They received $25 billion from the government in an effort to hang on for dear life. Wells Fargo recently purchased the assets of Wachovia when that bank went bad during the last month and the economic bailout has put them in a position to succeed relatively well in the near future. They did not seem to have as many bad loans out there as some of their competitors.

Citigroup. This is a company that, when compared to some of the others, made out pretty well in the economic bailout plan. They got a $25 billion investment from the treasury, which came as a result of their position within the market. While other banks were dropping like flies, Citigroup has been there to purchase them. They stand to survive this financial crisis and hang on into the future.

JP Morgan Chase. This huge banking conglomerate has also been in the business of buying up assets from other banks that are going down the drain. They got $25 billion in help from this bailout plan and seem to have gotten back on solid footing. There was some speculation that this bank would fall under with the economic crisis, but they have managed to do relatively well for themselves since that time.

Goldman Sachs. This bank did not need as much help from the federal government, as they only received $10 billion in the help package. They are prospering, however, as executives announced that more than 400 of the company’s top employees would be receiving huge bonus checks valued at a total amount of $7 billion in the coming months.

Morgan Stanley. The economic buyout has had an interesting impact on Morgan Stanley. They were one of only two investment banks remaining in the United States, but announced along with Goldman Sachs this fall that they would turn into a traditional bank. The bailout has forced them into another mode of operation, but it has not stopped the company completely.

Bank of New York Mellon. This bank received $3 billion in federal assistance and it looks as if they are going to survive the financial crisis. They have a particularly strong position for such a small bank and this money only helped them get on even stronger footing. They are poised to become a player in the commercial banking scene to an extent even greater than what they were.

State Street Corp. This bank received an even smaller amount, getting only $2 billion in money from the federal economic bailout. They were hit particularly hard in some areas because of their focus on industrial banking. Still, this company is global enough that with the help of the government, they are currently in pretty good shape regarding their future.

Merrill Lynch. This bank went into the tank as a result of the financial crisis. They received $10 billion from the federal government, but their assets were purchased by Bank of America for stock in September. They are currently completely under the control of Bank of America.

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National Bank Banking Crisis

Many years ago, state attorneys general were suing banks over their lending practices. The now disgraced Eliot Spitzer, then attorney general for New York, in 2001, stated: "For far too long, the subprime market has been a feeding ground for unscrupulous lenders looking to gouge the most vulnerable consumers."

The Banking Industry did not take state oversight lightly and the case went all the way to the Supreme Court which, of course, sided with the banks. In a dissent by Justice Stevens (joined by Chief Justice Roberts and Justice Scalia), he explained:

Congress has enacted no legislation immunizing national bank subsidiaries from compliance with nondiscriminatory state laws regulating the business activities of mortgage brokers and lenders. Nor has it authorized an executive agency to preempt such state laws whenever it concludes that they interfere with national bank activities. Notwithstanding the absence of relevant statutory authority, today the Court endorses an agency's incorrect determination that the laws of a sovereign State must yield to federal power. The significant impact of the Court's decision on the federal-state balance and the dual banking system makes it appropriate to set forth in full the reasons for my dissent. [which he proceeds to do in excruciating detail which makes so darn much sense right now ... truly a must read opinion] Watters v. Wachovia Bank, N.A. 127 S.Ct. 1559, 1573 (2007).

Hmm... isn't Wachovia now owned by Wells Fargo? They really won that case.

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Life Insurance National Bank Insurance Clients Market Wire

National Bank Insurance to Offer Truly Me Coverage to Clients Market Wire
MONTREAL, QUEBEC–(Marketwire - Oct. 20, 2008) - (TSX:NA) - As part of Breast Cancer Awareness Month, National Bank Insurance is pleased to introduce Truly Me insurance coverage, which protects women if they are diagnosed with the seven most common

FDIC Bank Deposit Insurance Temporarily Increased Inside Indiana Business. The Emergency Economic Stabilization Act of 2008 contained multiple provisions in addition to the Troubled Asset Relief Program. One of those provisions is intended to reduce concerns that depositor money held at banks could be at risk. The FDIC

ING sells Taiwan life insurance unit Financial Times. ING , the Dutch banking and insurance group, on Monday agreed to sell its Taiwan life insurance business to Fubon Financial for $600m ( 447m). The sale announcement came after ING accepted a 10bn capital injection from the Dutch government.

Taiwan bank buys unit of Dutch ING for $600M - Boston Globe. TAIPEI, Taiwan Taipei Fubon Financial Holding Co. announced Monday a $600 million plan to acquire the Taiwanese subsidiary of Netherlands’ ING Groep NV . Fubon Chairman Daniel Tsai said Taiwanese ING Life Insurance will merge with Fubon Life

Dutch government invests 10B in ING - CNN. AMSTERDAM, Netherlands (AP) — The Dutch government will invest 10 billion ($13.4 billion) in ING Groep NV to boost the bank and insurance company’s capital position, officials said. Dutch Finance Minister Wouter Bos said the state would sell its

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