adminNative American-Owned Banks by State
Native American-owned banks make up the smallest category of minority depository institutions (MDI) in the United States. Even if you include all of the currently active Native American-owned credit unions, they…
Women-Owned Banks in the US
On March 5, 2021, the Board of Directors of the Federal Reserve System announced that the system would be expanding its definition of minority depository institutions (MDIs) to include women-owned…
Top 10 Asian American-Owned Banks
Of all the minority depository institutions (MDIs) in the United States, the largest single group is composed of the 71 Asian or Pacific Islander American-owned banks. Collectively, these commercial banks…
Community Banks: Meaning, Overview, History and FAQ
What Is a Community Bank? A community bank is a depository or lending institution that primarily serves businesses and individuals in a small geographic area. Community banks tend to emphasize…
Interest Rate Trends for Credit Card, Auto, and Mortgage Loans
Tracking interest rates over time shows us significant volatility over long-enough time periods. Typically, the rates will be lowest on mortgages, highest on credit cards, and somewhere in the middle…
Banks that Support the LGBTQI+ Community
Many large banks and financial providers provide access to banking services that are catered to the specific needs of the LGBTQI+ community. Some of these institutions include Amalgamated Bank, Capital…
What Is an External Transfer? How It Works, Basics, and Types
External transfers allow you to transfer money between your accounts at different banks, send money to a friend or family member’s bank account, or pay bills or services. External transfers…
What to Know (and Do) If You’re Listed in ChexSystems
ChexSystems is a consumer credit reporting agency that tracks activity related to closed checking, savings, and other deposit accounts at banks and credit unions. If you’ve ever had issues with…
Black-Owned Banks by State
Ever since the founding of the Bank of North America in 1781, banking has played a critical role in facilitating the American Dream. These institutions provide indispensable monetary services, ranging…
Plaid: What It Is, How It Works, Is It Safe?
You’ll probably run into Plaid when you connect your bank account to apps run by financial services like American Express, Venmo, or Upstart. Plaid authenticates your financial information, permitting companies…
