Five years after the collapse of major banking institutions Lehman Brothers and Bear Stearns, Americans still don't trust big banks with their money. A 2013 Gallup poll found that 74% of Americans had "some or very little confidence" in banks, while only 10% said they had a "great deal" of confidence.
Dissatisfied companies in Canada are increasingly turning to non-bank options for their financial service needs, according to a global commercial banking survey released by Ernst & Young on Thursday.
Credit card issuers and insurance companies are two examples of non-banks competing with traditional institutions for lending and trade finance, foreign exchange and merchant services, according to the survey.
With student loan debt in the U.S. now well beyond $1 trillion, everyone seems eager to get into the debt-reduction business. Some cities will pay down your debt if you move there, while a growing number of employers are making loan payment contributions part of the benefits package.