Deposits

Since last year, banks have sharply reduced what they charge when consumers spend more money than they have, according to new research. Monthly maintenance charges and fees for using out-of-network ATMs have remained much more stable.

The pending deal will help keep the Canadian bank's funding costs low, since Bank of the West has a strong core deposit portfolio, executives said Tuesday. BMO is sticking with its year-end timeline for closing the acquisition.

One of the most popular lending platforms for holders of nonfungible tokens such as Bored Apes to borrow against their collections is revising its terms after a drop in prices threatened to trigger the liquidation of much of the collateral backing many of the loans.  

Advances by Federal Home Loan banks hit a 15-year low last year, but commercial banks and other financial institutions are clamoring for more as loan demand has increased and deposits have ebbed. How long will the trend continue?

Data as of Mar. 31, 2022. Dollars in thousands.

Consumers should be aware that the FDIC does not protect their money if a fintech goes belly up.

The San Francisco fintech collected $1.6 billion in deposits during the second quarter after buying a small bank earlier this year. Though SoFi pays relatively high rates to its depositors, CEO Anthony Noto said the company's funding costs are far lower than they were before the bank acquisition.

The last time inflation burned hot, consumers could put money in the bank and watch it grow like the prices on store shelves, easing much of the pain. Not this time — and that’s stoking profits for U.S. lenders.