SURREY, B.C. - (01/02/06) A study conducted here by Ipsos Reidand commissioned by Coast Capital Savings has found that more than60% of Canadians feel it is unfair for higher-balance investors toreceive preferential rates on their term deposits. Women were evenmore likely (70%) to say that higher rate for bigger investors areunfair, vs. 51% of men. Not too surprisingly, income was a bigdriver of attitudes. The study found that Canadians with an annualhousehold income of $30,000 to $60,000 were most likely to considersuch tiered pricing unfair (68%), compared to 63% of those withincomes less than $30,000 and 56% of those with incomes of morethan $60,000. The study of 1,270 Canadians also found that 45% ofCanadians are aware that consumers can negotiate rates on termdeposits, compared to 70% for mortgages. According to the IpsosReid study findings, 51% of Canadians have a term deposit while 42%of adult Canadians say they hold a mortgage.
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The combination of two Pacific Northwest banks was supposed to create a regional powerhouse, but rising deposit costs have stung. CEO Clint Stein says he's "laser-focused" on making Columbia a top performer again.
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A set of panels discussing minority depository institutions and digitization found that cost is a significant challenge to minority depository institutions, especially in the core processing space.
May 3 -
The Federal Reserve, Federal Deposit Insurance Corp. and Office of the Comptroller of the Currency issued a 30-page guidebook on managing affiliate risks. The report builds on formal guidance issued last year.
May 3 -
The efforts, which respond to President Biden's October executive order on AI, aim to improve synthetic content detection and improve the trustworthiness of AI models.
May 3 -
Tighter merchant connections between Square and Cash App helped Block produce stronger-than-expected results during the first quarter, while Jack Dorsey said the firm will launch its first remittance product later this year leveraging decentralized finance.
May 3 -
In talks with OCC officials, "it became obvious that we would not gain near-term approval given their recent experience with multifamily and CRE positions," FirstSun CEO Neal Arnold says. The companies announced other revisions to their deal, too.
May 3