CIBC Shies Further Away from Lending
CIBC announced early this year that it wanted to exit the mortgage broker channel and sell FirstLine, its mortgage branch. Also announcing that they were planning to keep their mortgage products (and the customers that went with them) within their branches, it was thought that the move was being made solely so that CIBC could…
Read moreGeneration X, Retirement, and Mistakes
The Financial Post recently ran an interview they did with finance guru and author of the book The Real Cost of Living, Carmen Wong Ulrich. During the interview Ulrich focused on the mistakes Generation Xers are making when it comes to their retirement. The points she makes are good, and are timely in nature, as…
Read moreDebt is all a Matter of Perspective
When TransUnion came out last week and announced that our debt levels are the highest they’ve been since 2004 (and possibly even before,) the country was sent into a panic. Financial experts from every corner of the nation weighed in on the subject, and the blogosphere was littered with headlines spelling doom and gloom. We…
Read moreAre Boomers Really So Privileged?
Baby Boomers have sort of gotten a bad rap over the past little while across the country. People seem to be looking at this group as though they’re somehow privileged, walking around with their noses in the air looking down at any of us that weren’t lucky enough to be born during a certain time…
Read moreING Direct Bought By Scotiabank!
ING Direct has been looking for a buyer for their Canadian business and now, they’ve found one in Scotiabank! In a deal that will be closed and finalized in December, Scotiabank has purchased won the bidding war over National Bank (the other interested buyer) and has purchased ING Direct for $3.1 billion. The move is…
Read morePutting TFSA to Good Use
A recent survey was conducted by CIBC that shows that although almost half of Canadians have a tax-free savings account (TFSA,) few are making contributions to it every year, and even fewer know what to do with the money in the account. Tax-free savings accounts are just that, savings account that will allow you to…
Read moreOverdraft Protection vs. HELOCs
Overdraft protection. That little feature so many of us buy into when we open our chequing accounts so that we can occasionally forget our bank balance and be no worse for the wear because of it. But is that really true? Is overdraft protection really the “protection” we think it is? When you look at…
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