The Motley Fool

SEPTEMBER 22, 2024

Berkshire Hathaway CEO Warren Buffett has long been a fan of bank stocks. In fact, the banking/insurance sector has likely been the sector he's invested the most in over his career. In recent years, Bank of America (NYSE: BAC) has been Berkshire's No. 1 holding among bank stocks, but that seems to be changing.

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Banks Conglomerates Stakes Assets 246

The Motley Fool

AUGUST 12, 2024

Fake bank message scam Scammers spend a tremendous amount of energy figuring out how to rope you in. One way is by pretending to be a representative of your bank. Postal Service that legitimately looks like it's from your bank. If you are contacted, immediately break contact and call or visit your bank.

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Banks Accounting Financial Services Financing 245

The Motley Fool

AUGUST 3, 2024

Image source: Getty Images Yes -- a bank can close your checking account without telling you in advance. Although it usually won't close an account without a specific reason, your bank has the power to do so at any time. Many banks will close your account if your balance remains at $0 for a certain period of time.

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Banks Accounting Financial Institutions Funds 246

The Motley Fool

SEPTEMBER 29, 2024

Toronto-Dominion Bank (NYSE: TD) , one of the largest banks in North America, has stumbled. yield of the average bank, using the SPDR S&P Bank ETF as an industry proxy. Is this Canadian banking giant a buy, sell, or hold today? Is this Canadian banking giant a buy, sell, or hold today? Within the U.S.

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Banks Legal Finance Financing 130

The Motley Fool

SEPTEMBER 6, 2024

Image source: The Motley Fool/Upsplash OK, so you have some money in the bank. But how much total does the average American have in the bank? You may not have as much in the bank as you want or as much as others have, but the time to start is now. Let's say it's divided, as it is for most U.S. Doesn't that sound nice?

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Banks Accounting Finance Financing 246

The Motley Fool

SEPTEMBER 27, 2024

Image source: Getty Images A typical American has $8,000 in deposit bank accounts, according to research collected by The Motley Fool Ascent. Since it holds the money you use to live your life, being happy with your bank is important. If your bank has been making you unhappy lately, fear not. How can you find out about this?

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Banks Accounting 130

The Motley Fool

MAY 12, 2024

But what can we learn from their banking habits? Look over your recent bank statements and see if you might be able to cut $10 or $20 from your spending. You don't see many checkbooks in use these days, but the process of tracking your transactions and making sure everything adds up is still a useful banking habit.

Banks 246

Banks High Net Worth Individuals Debt Accounting 246

The Motley Fool

AUGUST 31, 2024

New York Community Bancorp (NYSE: NYCB) is not the first bank to run into financial trouble, cut its dividend, and accept a bailout. In fact, iconic Bank of America (NYSE: BAC) did each of those things during the Great Recession. Bank of America reacted by cutting its dividend and taking a bailout. BAC data by YCharts.

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Banks Returns Assets Investors 237

The Motley Fool

SEPTEMBER 22, 2024

Image source: The Motley Fool/Unsplash With online applications and mobile banking apps, opening a new bank account is easier than ever. I've opened a new bank account in less than 15 minutes (and while wearing pajamas, ain't technology amazing?). Here are a few ways I've been paid for opening a new bank account.

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Banks Accounting Returns Investing 130

The Motley Fool

SEPTEMBER 14, 2024

Bank of America (NYSE: BAC) is the third-largest stock position in Berkshire Hathaway 's (NYSE: BRK.A) (NYSE: BRK.B) In this video, two Fool.com contributors discuss Bank of America's business and whether it's a good buy right now. Should you invest $1,000 in Bank of America right now? The video was published on Sept.

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Banks Conglomerates Investing Portfolios 130

The Motley Fool

AUGUST 16, 2024

Plus, I've lived through plenty of supposedly once-in-a-lifetime financial calamities, meaning it's even more crucial that I choose great banks. In 2022, I opened a high-yield savings account with an online-only bank. I then went on to add a checking account, and I even just opened my first-ever retirement account with the same bank.

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Banks Accounting Financial Services Returns 130

The Motley Fool

MARCH 13, 2024

Image source: The Motley Fool/Upsplash Switching banks can be inconvenient, but most people are willing to do it if necessary. Over three-quarters (76%) of consumers are likely to switch banks if they find one that better fits their needs, according to a recent banking survey by The Motley Fool Ascent. Others not so much.

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Banks Accounting Debt Capital 242

The Motley Fool

JULY 9, 2024

Image source: Getty Images It's your money, and generally, you have the right to withdraw as much -- or as little -- as you desire from your bank account. However, under a law called the Bank Secrecy Act (BSA), banks must report any deposits or withdrawals of $10,000 or more. And so the Bank Secrecy Act was born.

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Banks Accounting Financial Institutions Legal 245

The Motley Fool

APRIL 21, 2024

Your choice of where to open a bank account can make a difference in the climate change battle. Green banking" is a growing trend among eco-conscious bank customers who want to put their money into climate-friendly banks and investments. What is "green banking"? Here are a few of America's top-rated "green banks."

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Banks Accounting Finance Financing 238

The Motley Fool

SEPTEMBER 18, 2024

After three large regional banks collapsed last year, the industry braced itself for blowback, not only from the public but from a regulatory perspective as well. Since the Great Recession happened roughly 16 years ago, banks have been waiting for the final phase of capital rules. already do this). Image source: Getty Images.

Banks 237

Banks Assets Capital Shareholders 237

The Motley Fool

SEPTEMBER 30, 2024

Image source: Getty Images When data breaches are so common that they barely register in the news cycle, it makes sense to be skeptical about institutions like online banks. Whether you're a diehard brick-and-mortar bank user, or you've been using online banks for years, it's good to ask these kinds of questions.

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Banks Accounting 130

The Motley Fool

JULY 17, 2024

Image source: Getty Images Ready to find a new bank account to make managing your money simpler, cheaper, and perhaps more fun? Most of us aren't rich, and the prospect of losing our money to scammers or a bank failure is frankly terrifying. The money will be returned to you if your bank folds.

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Banks Accounting Financial Services Prospects 130

The Motley Fool

JUNE 4, 2024

Your bank will need to file a CTR In 1970, Congress passed the Bank Secrecy Act. To do that, a bank files a Currency Transaction Report (CTR). For example, if you go to your bank and withdraw $12,000 from your checking account , your bank would need to file a CTR. Don't try to outsmart your bank and the government.

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Banks Accounting Financial Institutions Legal 246

The Motley Fool

APRIL 16, 2024

They can happen with bank accounts, too. Featured offer: save money while you pay off debt with one of these top-rated balance transfer credit cards Notify your bank immediately The sooner you alert your bank of the situation, the better the outcome will be for you. Check with your bank to find out if this is an option.

Banks 246

Banks Accounting Financial Institutions Debt 246

The Motley Fool

SEPTEMBER 21, 2024

Image source: Getty Images When's the last time you took a good hard look at your bank? If your bank is failing on these basic duties, it could be time for a change. Here are four factors you should consider when you're looking for a new bank. Minimal fees You shouldn't have to pay to keep your money in the bank -- full stop.

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Banks Accounting Prospects Financing 130

The Motley Fool

JULY 1, 2024

Image source: Getty Images If you have $10,000 or more to deposit at your bank, you're probably eager to get it into your account where the funds will be safe and accessible. Banks are required to keep records of these transactions and to make reports of them as part of an effort to stop behaviors such as money laundering and tax evasion.

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Banks Accounting Legal Taxes 243

The Motley Fool

JULY 30, 2024

million shares in Bank of America (NYSE: BAC) , its second-largest holding, over the course of six days in late July. bank since 2019. Bank of America (BofA) stock has performed well since Berkshire first invested in it in 2011, returning around 12% compounded annually. Berkshire Hathaway (NYSE: BRK.A) (NYSE: BRK.B)

Banks 235

Banks Investors Stakes Assets 235

The Motley Fool

FEBRUARY 11, 2024

In recent weeks, bank stocks have been on a tear. That should help banks underwrite more loans at more affordable interest rates. The recent rally pushed up valuations quickly, but a few bargains remain, like Citigroup (NYSE: C) and HDFC Bank (NYSE: HDB) , which trade at deep discounts to their peers. billion people.

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Banks Buyout Finance Financing 246

The Motley Fool

AUGUST 2, 2024

Bank stocks are ending the trading week on low note, down across the board much more than the broad market's setback of around 2.2%. The report presents bank investors with a conundrum. Also bear in mind, of course, that a tepid economy reflected by poor employment numbers crimps demand for a variety of banking services.

Banks 246

Banks Legal Prospects Returns 246

The Motley Fool

AUGUST 6, 2024

But what about banks? Banks are a different kind of business, and there are even different kinds of banks that go well beyond the basic local branch offering savings and checking accounts to the community. According to the most recent Spend Report from the Financial Health Network, banks collected a total of $37.5

Banks 130

Banks High Net Worth Individuals Mergers and Acquisitions Initial Public Offering 130

The Motley Fool

MAY 16, 2024

Warren Buffett is a big fan of bank stocks. One bank is a deep value play, while the other offers compelling long-term growth potential. This bank stock is trading at a deep discount Bank stocks can see their valuations fluctuate wildly during various economic ups and downs. over the decades.

Banks 246

Banks Stakes Assets Returns 246

The Motley Fool

AUGUST 15, 2023

Image source: Getty Images If you're someone who prefers to do your banking online, you're not alone. adults preferred to do their banking online. Meanwhile, I have my reasons for using an online bank. And that's why I can't keep all of my savings at an online bank. Data from Forbes reveals that as of 2022, 78% of U.S.

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Banks Accounting Debt Returns 243

The Motley Fool

AUGUST 10, 2024

Image source: Getty Images For a lot of people, switching banks can be one of those tasks that sits on their to-do list forever but never makes it to the top. Or maybe you've never thought about switching banks, and you don't know why you'd need to. When this happens, bank account rates usually follow pretty closely.

Banks 130

Banks Accounting Funds 130

The Motley Fool

MAY 20, 2024

I own shares of Toronto-Dominion Bank (NYSE: TD) and Bank of Nova Scotia (NYSE: BNS) , so I'm fond of both companies. However, TD Bank is facing a unique regulatory headwind that might bother more conservative investors. If you are considering investing in TD Bank, you might actually prefer Scotiabank. But in 2023, U.S.

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Banks Returns Investors Companies 130

The Motley Fool

JULY 6, 2023

Image source: Getty Images We're nearly a quarter of the way through the 21st century, and yet some people still climb into their cars and drive to their local brick-and-mortar bank when they have financial business to take care of. Here are six advantages of using the online banking services offered by your financial institution.

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Banks Financial Institutions Accounting Taxes 246

The Motley Fool

JUNE 20, 2024

Image source: Getty Images Imagine if you went to the bank a few times over the course of a few days or weeks and you made a few deposits -- and then found out you were under federal investigation because of it. It could happen, though -- and it's all because of a law called the Banking Secrecy Act.

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Banks Accounting Legal Assets 244

The Motley Fool

AUGUST 6, 2024

of Americans were "banked," meaning that at least one household member had at least one account at a proper bank. This is the highest number of banked households found since the FDIC started recording such information in 2009. Image source: Getty Images In 2021, the FDIC found that a whopping 95.5%

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Banks Accounting Taxes Finance 130

The Motley Fool

SEPTEMBER 21, 2024

Image source: Getty Images If you're still using the bank account you opened in your teens, you could be paying a lot more than you have to just to use your bank. In my defense, I kept my account so I could quickly transfer money to my dad and husband, who use the same bank. Here's what you could save by switching banks.

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Banks Accounting Funds Investing 130

The Motley Fool

JULY 23, 2024

On Friday, July 19, Berkshire Hathaway filed a Form 4 with the Securities and Exchange Commission detailing trading activity in one of Buffett's core holdings, Bank of America (NYSE: BAC). From July 17 through July 19, Berkshire's brightest investment minds sold 33,890,927 shares of Bank of America stock, totaling $1.476 billion.

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Banks Stakes Taxes Shareholders 244

The Motley Fool

APRIL 21, 2024

Because it's one of the largest banks in the U.S., Bank of America 's (NYSE: BAC) metrics can provide investors with some valuable insights about consumer spending and the overall strength of consumers based on their ability to repay their debts. Here's what investors learned from the bank's first-quarter earnings call.

Banks 246

Banks Debt Assets Returns 246

The Motley Fool

APRIL 7, 2024

Image source: The Motley Fool/Upsplash Bank accounts are one of the safest places to store money. As long as your bank has FDIC insurance , your deposits are insured up to $250,000 per account holder. It's called a "right of offset," and it typically occurs when you borrow money and bank at the same institution.

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Banks Accounting Legal Financial Institutions 242

The Motley Fool

JULY 2, 2024

Image source: Getty Images There are some good reasons why people don't switch banks often. But while there can be a few hurdles to jump over when switching banks, there are plenty of good reasons why now could be an excellent time to make the move. But not for all banks. But many in-person banks score far below.

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Banks Accounting Returns 130