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Benefits of passive income strategiesWhat makes passive income strategies so appealing are the benefits, such as:Requires less ongoing effort: Compared to working full-time, passive income requires significantly less time and effort. Drawbacks of passive income strategiesWhile the concept of earning passive income sounds attractive, it's crucial that you understand all the risks involved and that you manage your expectations accordingly. Some of the major drawbacks of passive income strategies are:Unpredictability: The success of passive income strategies can be unpredictable and are generally out of your hands. Passive income — Frequently asked questions (FAQs)How much money do I need to start generating passive income? While some passive income streams require consistent minimal effort after the initial setup, other passive income strategies may require more extensive hands-on maintenance or monitoring.

Persons: Tiffany Grant, there's, wouldn't, Bonds, Melissa Jean, Baptiste, Grant, You'll, you'll Organizations: Coca, US Treasury, Federal Reserve, IRS

Overview of the Ink Business Unlimited® Credit CardYou can get a ton of value from the Ink Business Unlimited. Chase Ink Business Unlimited® Credit Card OverviewThe Ink Business Unlimited® Credit Card offers helpful benefits you don't always find on no-annual-fee cards, including primary car rental insurance when you rent for business purposes, extended warranty, and purchase protection. Before you decide on the Ink Business Unlimited® Credit Card, you may also want to consider the card's sibling — the Ink Business Cash® Credit Card. And, as with most cards, you'll pay fees for things like:Balance transfersCash advancesLate paymentsReturned paymentsCompare the Chase Ink Business Unlimited® Credit CardInk Business Unlimited® Credit Card vs. Other Chase Business CardsThere are multiple Ink business credit cards in the Chase family. Ink Business Unlimited® Credit CardThe Ink Business Cash® Credit Card is the cash-back counterpart of the Ink Business Unlimited® Credit Card, also with a $0 annual fee.

Persons: There's, It's, you'll, You'll, it's, Chase, Read Organizations: Business Insider, U.S . Bank Business, Cash, Mastercard, Ink, FDIC, Chase, Apple, Sapphire, United Airlines, Air Canada, Hyatt, Business, Chase Ink, EV, U.S, Bank Rewards, American Express, Express, Amex, Credit Card Locations: United, Southwest, Marriott, U.S, Chevron

World of Hyatt Business Credit Card OverviewThe World of Hyatt Business Credit Card is a good choice for small-business owners who stay with Hyatt frequently and can make use of enough card benefits to justify the annual fee. Hyatt Business Credit Card Benefits and FeaturesThe World of Hyatt Business Credit Card comes with perks that are most useful if you (or your employees) stay with Hyatt often. World of Hyatt Business Credit Card Annual Fee and Other CostsThe World of Hyatt Business Credit Card comes with a $199 annual fee. Compare the World of Hyatt Business Credit CardWorld of Hyatt Business Card vs. the World of Hyatt Credit CardIf the big-spending perks on the World of Hyatt Business Credit Card don't fit your travel and spending habits or if you don't have paid stays to take advantage of the annual Hyatt credits, you'll like be better off with the personal version of the card — The World Of Hyatt Credit Card. World of Hyatt Business Credit Card Frequently Asked QuestionsWho is eligible for the World of Hyatt Business card?

Persons: cardholders, Hyatt, it's, you'll, you've Organizations: Hyatt Business, Hyatt, Hyatt Business Credit, FDIC, Card, Hyatt Thompson, Hyatt Hyatt Regency, Hyatt Hotels, Hyatt Hyatt Residence, Hyatt Small, Business, Emergency, Hyatt Credit, Hyatt Credit Card Locations: Hyatt, redemptions

Southwest Performance Business Credit Card ReviewChase offers five co-branded Southwest credit cards with varying annual fees and benefits. Southwest Performance Business Credit Card RewardsThe Southwest® Rapid Rewards® Performance Business Credit Card offers many key benefits and features. Southwest Performance Business Card Fees and Other CostsThe Southwest® Rapid Rewards® Performance Business Credit Card charges a $199 annual fee. Southwest® Rapid Rewards® Premier Business Credit Card vs. Southwest® Rapid Rewards® Performance Business Credit CardThe Southwest® Rapid Rewards® Premier Business Credit Card is the only other small business credit card in Southwest's current portfolio. Southwest Performance Business Card Frequently Asked QuestionsWhat are the main benefits of the Southwest Performance Business Credit Card?

Persons: Chase, Cardholders, they'll, you'll Organizations: Business, Rewards, Card, eBay, Southwest ®, Rapid, FDIC, Southwest, EarlyBird, TSA, NEXUS, Emergency, Chase Small Business, Chase, Sapphire, Southwest Airlines Locations: rideshare, Southwest, Hawaii, Caribbean, Mexico, Central America

Introduction to Business Credit Cards with No Annual FeeYou don't need to worry about paying a high annual fee to open one of the best small business credit cards. Best Business Credit Cards with No Annual Fees of June 2024The Blue Business® Plus Credit Card from American Express: Best for earning travel pointsThe American Express Blue Business Cash™ Card: Best for earning cash backInk Business Unlimited® Credit Card: Best for maximizing Chase pointsInk Business Cash® Credit Card: Best for business expenses like office supplies and internetU.S. Bank Business Triple Cash Rewards World Elite Mastercard® : Best for generous welcome bonus with 0% intro APR: Best for generous welcome bonus with 0% intro APR U.S. Bank Business Platinum Card: Best ultra-long introductory APR offerBank of America® Business Advantage Customized Cash Rewards Mastercard® credit card : Best for customizing rewards: Best for customizing rewards Bank of America® Business Advantage Travel Rewards World Mastercard® credit card : Best for travel purchases: Best for travel purchases Capital One Spark 1% Classic† : Best for Building CreditNo-Annual-Fee Business Card ReviewsPremium credit cards can offer hundreds of dollars in value, but many business owners balk at the idea of paying an annual fee on a credit card. This list highlights many of the best no-annual-fee business credit cards available in 2024, according to Business Insider's team of credit card experts. No-Annual-Fee Business Card Frequently Asked QuestionsHow do I choose the best no-annual-fee business card for me? Why You Should Trust Us: How We Chose the Best Business Credit Cards with No Annual FeesThere are lots of no-annual-fee business credit cards on the market.

Persons: You've, you'll, APRs, Cash, you've, Hilton, You'll, it's, Chase, Read, Cardholders, cardholders, EIN Organizations: Business Insider, U.S . Bank Business, Cash, Mastercard, Bank of America, Express, American Express, Chase, Ink, FDIC, . Bank Business, Rewards, EV, U.S, Bank, U.S . Bank, of America, Business, Capital, Best, Bank Business, . Bank, American, Air Canada Aeroplan, British Airways Executive Club, Marriott Bonvoy, Global, Amex, Card, Sapphire, Elite Mastercard, Merrill, Travel, Bank of America Travel Center, Credit Locations: U.S, Chevron

Best Travel Business Credit Card Overall: Ink Business Preferred® Credit CardThe Ink Business Preferred® Credit Card is a fantastic jack-of-all-trades business credit card for many small business owners. Best Business Credit Card for High Spenders: Capital One Venture X Business Card†The Capital One Venture X Business Card† is a newcomer on the business credit card scene that heavily rewards big spenders. Best Business Credit Card for Unlimited Flat-Rate Cash Back or Chase Ultimate Rewards®: Ink Business Cash® Credit CardThe Ink Business Cash® Credit Card is a no-annual-fee business credit card that earns generous cash back on business-related categories while providing useful perks such as purchase and extended warranty protection. Read our full Southwest Performance business credit card review to learn more about this business credit card. Business Travel Credit Card Frequently Asked QuestionsWhat makes a business credit card ideal for travel?

Persons: you've, You've, It's, You'll, We'll, you'll, it's, Cardholders Organizations: Business, Venture, Business †, Best, Travel, American Express, American, Express, Southwest, Travel Best, Ink, Chase Travel, Chase, FDIC, Capital, One, FedEx, Grubhub, Supply, Walmart, Southwest ®, Rapid, Dell, Adobe, Air Canada Aeroplan, British Airways Executive Club, Marriott Bonvoy, Miles, WiFi, Amex, Travel Business, — Locations: Chase TravelSM, AmexTravel.com, rideshare, airfare, Chase, Chevron

The Q3 2024 bonus categories are gas and EV charging, movies, and ticketed live entertainment events such as concerts and shows. That's why you can think of the Chase Freedom Flex® and Chase Freedom® bonus categories as earning you either 5% back or 5x points. Q3 2024: Chase Freedom Flex® and legacy Chase Freedom® cardholders can activate bonus categories online or through their Chase account until September 14, 2024. Points earned on the Chase Freedom Flex® and the Chase Freedom® can be transferred to certain travel credit cards for significantly higher value. In Q3 2024, the bonus categories are gas and EV charging, movies, and live entertainment.

Persons: cardholders, Chase, takeout, you’ve, Cash, you've Organizations: Business, Citi, Citi Strata Premier, Card, Citi Prestige, EV, Walmart, Freedom, Chase, Chase Travel, PayPal, Foods, Gas, Amazon, Target, Wholesale, eBay, Cable, Department, Chase Travel ℠, Sapphire, United, Hyatt, Marriott, Discover, Restaurants, Citi Prestige ®, JetBlue, Singapore Airlines, Chase Credit, FDIC Locations: United Airlines, drugstores, Chevron

The information for the following product(s) has been collected independently by Business Insider: Ink Business Premier® Credit Card, Southwest Rapid Rewards® Premier Credit Card, Chase Freedom Flex®. But if saving cash is more important to you, Chase's Pay Yourself Back program can help you save money by using your credit card rewards to pay off certain charges on your card. As the name suggests, Pay Yourself Back allows you to use your credit card rewards to pay off certain charges on your card. Eligible Chase CardsThe Pay Yourself Back program is available on the Chase Freedom, Ink, and Sapphire credit cards, as well as the co-branded Aeroplan® Credit Card, United credit cards, and Southwest credit cards. If you have a Chase Sapphire Reserve®, you should also consider applying for another Chase card that could help you maximize this benefit.

Persons: Chase Travel ℠, Chase, you'll, Cash Organizations: Business, Ink, Rapid Rewards, Read, Chase, Chase Travel, Sapphire, Chase Sapphire, TSA, FDIC, United, Humanity International Medical Corps International, Conference Education Fund NAACP Legal Defense, Education Fund National, SAGE Thurgood Marshall College Fund United Negro College Fund UNICEF, Air, ®, Chase Travel Partners, Air France, KLM, Blue Locations: Southwest, Air Canada, Europe, Chevron

Introduction to Credit Card Presale TicketsIf you're swiping a credit card regularly, you probably know its key benefits. Eligible Credit Cards for Presale AccessMajor Credit Cards with Entertainment BenefitsWith most American Express cards, you're eligible to buy presale tickets through the American Express Experiences program. Other credit cards offer higher rewards in certain categories of spending Insider’s Take If you want an easy, no-fuss travel rewards credit card, the Capital One Venture Rewards Credit Card is a great fit. Your Chase credit card isn't the best for presale tickets — though you can sometimes score presale tickets for events at the Chase Center (in other words, this isn't valuable at tons of locations worldwide). FAQsWhich credit cards offer access to event presale tickets?

Persons: Chase, there's, Uber, Wiley, Julie Mehretu, Peacock, Uber Cash, Miles, Taylor, It's, who's, it's Organizations: Business, Business †, Citi Strata Premier, Card, Citi, Citi ®, Mastercard, American Express, Wimbledon, Express, Hilton, Marriott, Saks, Entertainment, Disney, ESPN, The New York Times, Street, American, Walmart, TSA, Global, Saks Fifth, Ticketmaster, Capital, Capital One, Capital One Entertainment, Citi Entertainment, Premier, CitiTravel.com, EV, Citi cardholders, Chase Chase, Chase Travel, Chase, Sapphire, Hotel, FDIC, Garden, Radio Music Hall, Chicago Theater, Mastercard cardholders, Chevron Locations: Coachella, Hulu, presales, Madison, New York City, Los Angeles

Chase Ultimate Rewards and American Express Membership Rewards are the most popular credit card reward programs. The Amex Platinum Card and Chase Sapphire Preferred earn points in two different programs — American Express Membership Rewards and Chase Ultimate Rewards®, respectively. American Express Membership Rewards OverviewThis brings us to the American Express Membership Rewards program, which is similar to the Chase Ultimate Rewards with a few key differences. The American Express Membership Rewards program includes the following transfer partners:Amex Membership Rewards Transfer Partners Aer Lingus: 1,000 points = 1,000 milesAeromexico: 1,000 points = 1,600 milesAir Canada: 1,000 points = 1,000 milesAir France-KLM Flying Blue: 1,000 points = 1,000 milesAlitalia: 1,000 points = 1,000 milesANA Mileage Club: 1,000 points = 1,000 milesAsia Miles: 1,000 points = 1,000 milesAvianca: 1,000 points = 1,000 milesBritish Airways: 1,000 points = 1,000 milesDelta SkyMiles: 1,000 points = 1,000 milesEl Al Israel: 1,000 points = 20 milesEmirates: 1,000 points = 1,000 milesEtihad Airways: 1,000 points = 1,000 milesHawaiian Airlines: 1,000 points = 1,000 milesIberia: 1,000 points = 1,000 milesJetBlue: 250 points = 200 milesQantas: 500 points = 500 milesSingapore Airlines: 1,000 points = 1,000 milesVirgin Atlantic: 1,000 points = 1,000 milesChoice Privileges: 1,000 points = 1,000 hotel pointsHilton Honors: 1,000 points = 2,000 hotel pointsMarriott Bonvoy: 1,000 points = 1,000 hotel pointsLike the Chase Ultimate Rewards program, American Express Membership Rewards offers the most bang for your buck when you transfer points to airline and hotel partners. Choosing Between Chase Points and Amex PointsIf you can't decide between Chase Ultimate Rewards and American Express Membership Rewards, there are some serious questions you should be asking yourself.

Persons: Chase, you'll, You've, Holly Johnson, Amex, You'll, Uber, Wiley, Julie Mehretu, Peacock, Uber Cash Organizations: Business, Read, American Express, Chase, Sapphire, Chase Sapphire Reserve, Freedom, Apple, Chase Sapphire, Aer Lingus British Airways Emirates Air France, KLM, Blue, JetBlue Singapore Airlines, Southwest Airlines United, Virgin, Hyatt, Chase Travel, Hotel, FDIC, American, Aer Lingus, Air, Air France, Alitalia, British Airways, El, Emirates, Etihad Airways, Hawaiian Airlines, JetBlue, Qantas, Singapore Airlines, Marriott, airfare, Express, Hilton, Saks, Entertainment, Disney, ESPN, The New York Times, Street, Walmart, TSA, Global, Saks Fifth, Southwest Rapid, Delta Air Lines Locations: U.S, airfare, Air Canada, Asia Miles, El Al Israel, Iberia, Hulu, United

☆ Here's why international buyers are pulling way back from the U.S. housing market
▼ + stars: | 2024-07-17 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com time to read: +3 min

As a result, international buyers are pulling out. This comes as both the average ($780,300) and median ($475,000) purchase prices were the highest the NAR ever recorded for foreign buyers. "Therefore, it's not surprising to see a pullback in U.S. home sales from foreign buyers." International buyers tend to pull back during times of political uncertainty. It is unlikely sales from foreign buyers will improve in the coming year unless several factors, both economic and political, improve.

Persons: they're, Lawrence Yun, it's, Yuval Golan, Golan, Waltz Organizations: National Association of Realtors, NAR, FDIC Locations: Canada, China, Mexico, India, Florida , Texas , California, Arizona

☆ Taylor Swift U.S. tickets cost $1,832. I saw The Eras Tour in Amsterdam for $384. Credit card points covered almost everything else.
▼ + stars: | 2024-07-16 | by ( Katherine Fan | Sarah Silbert | Senior Editor | ) www.businessinsider.com time to read: +12 min

The information for the following product(s) has been collected independently by Business Insider: Marriott Bonvoy Boundless® Credit Card, Chase Freedom Flex®. I saved over $5,000 with points and milesThis trip was only possible because of my stash of credit card points and miles. Katherine FanMy Sheraton Amsterdam hotel room would have cost $405.48 in cash Katherine FanI booked the room using a free night award I earned from a new customer bonus on the Marriott Bonvoy Boundless® Credit Card credit card. Note that credit card lenders may use many different variations of credit score models when considering your application. You can use credit card awards to book luxury vacations, seek out gritty adventures, and do everything else in between.

Persons: Taylor Swift, Taylor, would've, Johan Cruijff Arena, neve, I'm, Katherine Fan, Chase Travel ℠, Chase, redemptions Organizations: Business, Independence, Sheraton, Marriott, Amazon Prime, Visa, KLM, American, Marriott Gold, Google, Chase Sapphire, Chase Travel, Sapphire, TSA, FDIC Locations: Amsterdam, Texas, Europe, Netherlands, North America, U.S, Canada, Austin, Sheraton Amsterdam

A branch of First Republic Bank is seen after Jamie Dimon's JPMorgan Chase & Co emerged as the winner of a weekend auction of the bank in San Franciso, California, U.S. May 1, 2023. First Republic failed on May 1, 2023, after a series of Federal Reserve interest rate increases caused large losses in its investment portfolio and led many depositors to move their money elsewhere. In their complaint filed last December, the former First Republic employees alleged that the FDIC had on May 18, 2023, wrongfully stopped making payments under their deferred compensation plan. First Republic failed less than two months after the failures of two other lenders, Silicon Valley Bank and Signature Bank. The case is Harrington et al v FDIC, U.S. District Court, Northern District of California, No.

Persons: Jamie Dimon's, Hyun Joo Jin, District Judge Haywood Gilliam, Gilliam, Harrington, Jonathan Stempel, Will Dunham Organizations: First Republic Bank, Jamie Dimon's JPMorgan Chase, REUTERS, Federal Deposit Insurance Corp, Bank, U.S, District, Federal, First, JPMorgan, Republic, Silicon Valley Bank, Signature Bank, FDIC, Court, Northern District of, Thomson Locations: San Franciso , California, U.S, California, San Francisco, Oakland , California, Northern District, Northern District of California, New York

☆ We are upgrading our rating on Wells Fargo as investors dump stock post-earnings
▼ + stars: | 2024-07-12 | by ( Zev Fima | ) www.cnbc.com time to read: +10 min

Wells Fargo Why we own it : We bought Wells Fargo as a turnaround story under CEO Charlie Scharf. We are more excited by the outperformance of non-interest income than we are disappointed with the miss on net interest income. However, the team added, many of the factors driving net interest income are uncertain heading into the second half of the year. We don't like to see guidance misses, but bank interest income estimates depend on interest rates, which Wells Fargo has no real control over. Non-interest income increased 12% thanks to higher asset-based fees driven by an increase in market valuations.

Persons: Wells Fargo, Wells, Charlie Scharf, He's, Scharf, Wells Fargo's, —, It's, Jim Cramer's, Jim Cramer, Jim, Justin Sullivan Organizations: Wells, Bank of America, Citigroup, Management, Silicon Valley Bank, Consumer, Auto, Corporate, Wealth, CNBC, Getty Locations: Wells Fargo, Wells, NII, Silicon

☆ Your bank is about to reveal key information about the US economy’s health
▼ + stars: | 2024-07-11 | by ( Krystal Hur | ) edition.cnn.com time to read: +6 min

Dave Sekera, chief US market strategist at Morningstar, says that he’s watching for insights on banks’ delinquency rates. Consumers have increasingly fallen behind on or missed payments in recent months as they get squeezed by high interest rates. But banks could see higher losses compared to 2023 if the economy were to experience a downturn, the Fed warned. Investors are wagering that the central bank will begin easing rates as soon as September, according to the CME FedWatch Tool. “The worst outcome for all of us is what you call stagflation: higher rates and recession,” Dimon said in an interview with CNBC.

Persons: Wells Fargo, Goldman Sachs, Dave Sekera, Stocks, JPMorgan Chase, Jamie Dimon, Dimon, Matt Egan, it’s, ”, Joe Brusuelas, Mark Zandi, ” Zandi, “, Jerome Powell, Erika Tulfo, “ It’s, Neil Saunders, Abrigo, Gen Organizations: CNN Business, Bell, New York CNN, United, United States ’, JPMorgan Chase, Citigroup, Bank of America, Morningstar, Federal Reserve Bank of New, Fed, Federal Deposit Insurance Corporation, JPMorgan, CNBC, Federal, RSM, “, Moody’s, CNN, GlobalData, Apple Locations: New York, United States, Federal Reserve Bank of New York, China

☆ With CDs topping 5% APY, I asked financial advisors for their best tips to earn more on my savings
▼ + stars: | 2024-07-04 | by ( Jen Glantz | ) www.businessinsider.com time to read: +5 min

I started investing a lot of my savings in CDs this year when I saw how high APYs are right now. In order to make sure I'm getting the most out of my CD strategy when average CD rates are high, I decided to chat with two financial advisors to hear their best tips. "CD rates can vary wildly between banks, credit unions, and investment firms, so be sure to shop around whenever you are ready to buy one," he said. "The last thing you want to do is have to pull out your CD money right before it matures because you need to purchase new tires." Consider a CD ladderIn order to really maximize the current high APY offerings from CDs, Kovar suggested considering a CD ladder.

Persons: Taylor Kovar, I've, Kovar, Patrick O'Leary, doesn't

☆ How thousands of Americans got caught in fintech’s false promise and lost access to bank accounts
▼ + stars: | 2024-07-02 | by ( Hugh Son | ) www.cnbc.com time to read: +10 min

Craft had her wages deposited directly into a Yotta account and used the startup's debit card to pay for all her expenses. CNBC reached out to fintech customers whose lives have been upended by the Synapse debacle. Instead of spending years and millions of dollars trying to acquire or become banks, startups got quick access to essential services they needed to offer. They account for 60% of all new fintech account openings, according to data provider Curinos. The FDIC's exact language about whether fintech customers are eligible for coverage: "The short answer is: it depends."

Persons: Natasha Craft, Craft, fintech, Adam Moelis, Sankaet Pathak, Michele Alt, Scott Sanborn, Sanborn, LendingClub, she's, Rick Davies, Taylor Stitch, " Davies, He's, he's, Davies, hasn't Organizations: FedEx, CNBC, Federal Deposit Insurance Corp, Synapse, Indiana FedEx, Disney, Bank, Trust, JPMorgan Chase, Klaros, PayPal, Getty, Financial Technology Association, D.C, Block, Regulators, Federal Reserve, FDIC, Oakland, San, OCC Locations: Mishawaka , Indiana, Craft, Oakland , California, New York City, Santa Barbara , California, Maryland, Bristol , Connecticut, Seattle, Tennessee, Yotta, Boston, Washington, fintechs, Silicon, San Francisco

The Amazon Prime Visa earns 5% back at Amazon and Whole Foods and offers 0% intro APR on select purchases. Earn an instant $200 by signing up for a new Amazon Prime Visa credit card by July 24. Cardholders with Amazon Prime membership earn 5% back on Amazon, Amazon Fresh, Whole Foods, and Chase Travel purchases, all without paying an annual fee. If you're an Amazon Prime member, your Prime Visa card benefits extend far beyond the initial bonus and 5% cash back. Cardholders without Amazon Prime membership earn 3% cash back on Amazon bonus categories: Amazon, Amazon Fresh, Whole Foods, and Chase Travel.

Persons: You'll, Chase, —, cardholders, you've, you'll, we've, Katherine Fan, Katherine, Guy, Nerdwallet, Fortune, Katherine moonlights, she's, She's Organizations: Amazon, Visa, Foods, Read, Chase Travel, Amazon.com, FDIC, Prime, Finance, Cards, CNN, Forbes, Wall, Dallas Morning News, Newsweek, Nasdaq, MSN, Yahoo, SXSW, Austin American, Statesman, University of Texas, National Taiwan University Locations: Austin, orcas, Antarctica, Japan, New Zealand, South Africa, Taiwan

☆ 5 money management tips to ensure your funds keep growing
▼ + stars: | 2024-06-28 | by ( Sponsor Post | Sponsored Apple Card | ) www.businessinsider.com time to read: +7 min

Opening a high-yield savings account can be a game-changerWhile 68% of Americans have a standard savings account, according to Forbes, fewer take advantage of high-yield accounts that offer better returns. Although you can choose to receive a physical titanium Apple Card, it's also automatically built into Apple Wallet on iPhone. 3 To access Savings, Apple Card Owners and Co-Owners must open a Savings account. To access and use all Apple Card features and products available only to Apple Card users, you must add Apple Card to Wallet on an iPhone or iPad that supports and has the latest version of iOS or iPadOS. If you reside in the U.S. territories, please call Goldman Sachs at 877-255-5923 with questions about Apple Card.

Persons: it's, Cash, Goldman Sachs Organizations: Economic, Forbes, Apple, Apple Pay, Insider Studios, Apple Card, Savings, Goldman Sachs Bank, Branch, Member FDIC, Daily, Apple Cash Card, Minor Outlying, Merchant, Nike Locations: Salt Lake, American Samoa, Guam, Northern Mariana Islands, United States, U.S

☆ Step into the daily lives of Canyon Coffee's cofounders. Here's how they balance business, family, and finances.
▼ + stars: | 2024-06-28 | by ( Sponsor Post | Sponsored Apple Card | ) www.businessinsider.com time to read: +10 min

4 You can choose to direct Daily Cash to a Savings account or to an Apple Cash card. By opening a Savings account, Apple Card Owners and Co-Owners are affirmatively electing to have all future Daily Cash automatically deposited into their respective Savings account. Daily Cash may not be divided between Apple Cash Card and Savings accounts. To access and use all Apple Card features and products available only to Apple Card users, you must add Apple Card to Wallet on an iPhone or iPad that supports and has the latest version of iOS or iPadOS. If you reside in the U.S. territories, please call Goldman Sachs at 877-255-5923 with questions about Apple Card.

Persons: Wojtalewicz, Ally Walsh, Casey, Ally, Casey Wojtalewicz, she'll, they're, Daily Cash, Cash, Goldman Sachs Organizations: Apple, Apple Card, Coffee, Savings, Daily, Insider Studios, Goldman Sachs Bank, Salt Lake City Branch, FDIC, Green Dot Bank, Branch, Member FDIC, Apple Cash Card, Minor Outlying Locations: Los Angeles, Echo Park, LA, Salt Lake City, Daily, Salt Lake, American Samoa, Guam, Northern Mariana Islands, United States, U.S

☆ Nearly $109 million in deposits held for fintech Yotta’s customers vanished in Synapse collapse, bank says
▼ + stars: | 2024-06-21 | by ( Hugh Son | ) www.cnbc.com time to read: +2 min

Ledgers of the failed fintech middleman Synapse show that nearly all the deposits held for customers of the banking app Yotta went missing weeks ago, according to one of the lenders involved. A network of eight banks held $109 million in deposits for Yotta customers as of April 11, Evolve Bank & Trust said in a bankruptcy court letter filed late Thursday. About one month later, the ledger showed just $1.4 million in Yotta funds held at one of the banks, Evolve said. Yotta CEO and co-founder Adam Moelis said in response to this article that Synapse has said in court filings that Evolve held nearly all Yotta customers deposits. "According to the Synapse trial balance report provided on May 17, there are $112 million of customer funds held at Evolve," Moelis said.

Persons: Adam Moelis, Moelis Organizations: Evolve Bank, Trust, Evolve, Synapse, Federal Reserve, Fed Locations: Memphis , Tennessee

☆ Regulators hit Citigroup, JPMorgan Chase, Goldman Sachs and Bank of America over living will plans
▼ + stars: | 2024-06-21 | by ( Hugh Son | ) www.cnbc.com time to read: +2 min

Banking regulators on Friday disclosed that they found weaknesses in the resolution plans of four of the eight largest American lenders. The Federal Reserve and the Federal Deposit Insurance Corporation said that the so-called living wills — plans for unwinding huge institutions in the event of distress or failure — of Citigroup , JPMorgan Chase , Goldman Sachs and Bank of America filed in 2023 were inadequate. Regulators found fault with the way each of the banks planned to unwind their massive derivatives portfolios. The living wills are a key regulatory exercise mandated in the aftermath of the 2008 global financial crisis. "We are fully committed to addressing the issues identified by our regulators," New York-based Citigroup said in a statement.

Persons: Jane Fraser, JPMorgan Chase, Goldman Sachs, credibly, we've Organizations: Citigroup, Banking, Housing, Urban Affairs Committee, Nations Largest Banks, Federal Reserve, Federal Deposit Insurance Corporation, JPMorgan, Bank of America, Regulators, Wall, Goldman, Bank of, FDIC, Citi Locations: New York

☆ Investors may be looking at commercial real estate risk all wrong and missing these opportunities
▼ + stars: | 2024-06-16 | by ( Christina Cheddar Berk | In | ) www.cnbc.com time to read: +6 min

The threat from a looming wave of maturing commercial real estate loans has been well telegraphed to investors, but it's possible the metrics they are using to protect themselves from risk are flawed. Many investors have been avoiding bank stocks with high concentrations of commercial real estate (CRE) exposure. Investors have been punishing regional bank stocks, especially when the bank's commercial real estate exposure tops more than 300% of its total equity . While the latter two have some exposure to New York City real estate, both banks benefit from strong management teams, he said. (New York real estate markets are navigating both falling office values as well as the dynamics of rent-regulated multifamily properties.)

Persons: Erika Najarian, Stephens, Matt Breese, Breese, Webster, Najarian, Piper Sandler, Scott Siefers, Siefers, generalists Organizations: Owners, KBW, Regional Banking, UBS, Federal Deposit Insurance Corp, Federal Reserve, Kansas City Fed, NBT Bancorp, Webster, National Bancorp, Micron Technology, Financial Group, Citizens Locations: New York City, York, . Connecticut, New, New York, Providence, R.I

☆ Biden to nominate Christy Goldsmith Romero as FDIC chair after abrupt departure of predecessor
▼ + stars: | 2024-06-13 | by ( ) www.cnbc.com time to read: +2 min

Christy Goldsmith Romero, commissioner of the Commodity Futures Trading Commission (CFTC) speaks during the DC Blockchain Summit in Washington, D.C., on Tuesday, May 24, 2022. President Joe Biden will nominate Christy Goldsmith Romero to replace Martin Greunberg as head of the Federal Deposit Insurance Corporation. A longtime financial regulator, Goldsmith Romero is currently a commissioner at the Commodity Futures Trading Commission, the nation's financial derivatives regulator, and previously worked with the Department of Treasury. Her previous nominations to the nation's financial regulators were unanimously confirmed by the Senate. Gruenberg's resignation would not be official until Goldsmith Romero nomination is finalized.

Persons: Christy Goldsmith Romero, Joe Biden, Martin Greunberg, Gruenberg's, Goldsmith Romero, Sen, Sherrod Brown, Gruenberg, Cleary Gottlieb Steen, Hamilton, hasn't, Tim Scott Organizations: Futures Trading Commission, DC, Washington , D.C, Federal Deposit Insurance Corporation, White, Commodity Futures Trading Commission, Department of Treasury, Georgetown University, Senate, Banking Committee, Republicans, FDIC, Republican Locations: Washington ,, Ohio

☆ White House to nominate Goldsmith Romero soon, aiming for July hearing, says Reuters source
▼ + stars: | 2024-06-13 | by ( ) www.cnbc.com time to read: +2 min

The White House will nominate markets regulator Christy Goldsmith Romero as Federal Deposit Insurance Corporation chair imminently as it targets the week of July 8 for her first hearing, a person with direct knowledge of the matter said on Wednesday. The White House will nominate markets regulator Christy Goldsmith Romero as Federal Deposit Insurance Corporation chair imminently as it targets the week of July 8 for her first hearing, a person with direct knowledge of the matter said on Wednesday. The White House declined comment. She had been lined up for the Treasury role before Gruenberg succumbed last month to political pressure to resign. Punchbowl News earlier on Wednesday reported that the White House would announce Romero's nomination on Thursday.

Persons: Christy Goldsmith Romero, Sherrod Brown, Joe, Goldsmith Romero, Martin Gruenberg, Kristin Johnson, Spokespeople, Brown, Johnson, Goldsmith Romero's, Gruenberg Organizations: Federal Deposit Insurance Corp, Federal Deposit Insurance Corporation, imminently, White House, Democratic, Banking, U.S, Commodity Futures Trading Commission, Treasury Department, Treasury, FDIC, Labor, Street, Punchbowl Locations: Washington , DC, Washington

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