FDIC asks Americans to keep their money in the banks
Yesterday the Chair of the FDIC released an astonishing video asking Americans to keep their money in the bank. Accompanied by soft piano music playing in the background, the official said: “Your money is safe at the banks. The last thing you should be doing is...
Wells Fargo paid more in criminal penalties than it paid in interest to its depositors
Last week Wells Fargo paid the largest fine yet for one of it’s many scandals– $3 billion. This time, the fine was for opening bank accounts under customers’ names without the customers’ knowledge or consent. Workers at Wells Fargo did this to boost their own sales...
Fed official: “If there’s a recession, don’t worry”
Earlier this week I sent one of my team members to a banking conference here in Puerto Rico hosted by the Federal Reserve. It might strike you as strange that the Fed would be holding an event in Puerto Rico, but it’s not that unusual. Puerto Rico is a US territory...
How Screwed Up The Pension System Is
Late last year, the investment management giant Morningstar published a report concluding that most people can either save money for retirement, or save money for their kids’ education… but NOT both. They make the economic realities very clear: parents have to choose...
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