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.
-
The Jackson, Mississippi, company will use proceeds from the sale of its Fisher Brown Bottrell Insurance unit to restructure its investment portfolio, moving $1.6 billion of low-yield securities off the balance sheet.
April 24 -
The store-branded card issuer is raising annual percentage rates and adding fees for paper statements to compensate for lost revenue. The Consumer Financial Protection Bureau's new regulation is scheduled to take effect on May 14.
April 24 -
At the banks' annual meetings, shareholders at both companies struck down proposals that would have split the board chair and CEO roles. Two other proposals also failed to win shareholder support, one concerning energy financing and another on pay gap analysis.
April 24 -
Congressional Review Act resolutions are ramping up ahead of the 2024 election cycle. Experts say that, although none are likely to become law, the resolutions are still powerful messaging and political tools.
April 24 -
The ABA is testing an information-exchange network to allow banks to share their fraud data with each other. Companies including Baselayer are also building solutions.
April 24 -
Republicans on the House and Senate Small Business committees are accusing the SBA of being irresponsible in granting Funding Circle permission to participate in its flagship loan-guarantee program.
April 24