Out of State Branches, Responsibilities

Remember when banks couldn’t cross state lines? We do. Federal regulations prohibited the practice. Although, as the country stumbled its way through the Savings and Loan crisis in the 1980s, many states passed their own laws permitting out-of-state bank holding companies to acquire banks in their state under certain circumstances.

All Credit Union Star-Ratings Now Updated

Shares and deposits increased by $65.5 billion (5.8%) from March 31, 2017, ending the first quarter 2018 at $1.204 trillion. While that number pales in comparison to the nation’s banks (roughly 10%), it has been growing steadily for years. In fact, the largest three U.S. banks each have deposits totaling more than the entire credit union industry.

 

Nationwide is (No Longer) on Your Side

As a depositor, that is. The $7.1 billion asset 5-Star Nationwide Bank, Columbus, OH is exiting the retail banking business in favor of more lucrative insurance and retirement operations.

Nationwide Bank was chartered in 1998 and added to our rate pages ten years ago (JRN 25:28). Over the years it has frequently been listed on our Top Rates chart. But no more.