Author: BauerFinancial | Page 37

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.

Regulation: How Much is Enough, Too Much?

On June 5^th, Jelena McWilliams was sworn in as the 21st Chairman of the FDIC. As head of one of the nation’s bank regulatory agencies, she has a tough road ahead of her. Arguably the most crucial topic today, as Dodd-Frank is being dismantled, is where should regulation draw the line?

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.

All New BANK Star-Ratings This Week

All new banks star-ratings this week.

Fewer than 4% of the nation’s banks were unprofitable in the quarter—that’s the lowest level since the first quarter of 1996—22 years ago.

Credit Union Ratings coming soon.

Bauer’s Version of Show and Tell

Bauer’s new website makes it easier than ever to find banks with DBAs (doing business as another name). This will make it infinitely easier to get the correct rating on a bank or banks that operate under more than one name …because Bauer doesn’t want it to be fairly easy to find the correct bank. We want it to be virtually impossible to select the wrong bank.