Correspondent Blog

There have been many a banker who has said they want to offer a high-yield account because the “higher interest expense is just like paying marketing costs.” This banker may even be thinking of starting a completely new digital bank using a high-yield account as its flagship product. The logic that “rate sells itself” is…

More than a year ago, the Federal Reserve changed Regulation D, Section 19 to allow an unlimited amount of withdrawals or transfers from a customer’s savings or money market account. Most banks immediately changed their policies to pass on this freedom to their customers. Some banks proactively left the limit in place or modified the…