It’s official: Varo Money has national bank charter

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The i’s have been dotted and the t’s crossed on a national bank charter for Varo Money.

CEO Colin Walsh and Brian Brooks, the acting comptroller of the currency, will participate in a signing ceremony at Varo’s offices in San Francisco at 10 a.m. Pacific time on Friday, both sides said. Varo is the first fintech provider among several similar applicants to obtain a national bank charter.

Varo Bank N.A. had received conditional approval from the Office of the Comptroller of the Currency in September 2018, provided it met several criteria — including an OK from the Federal Deposit Insurance Corp., which it obtained in February of this year. The company now has official approval in hand from the OCC, FDIC and Federal Reserve Board.

It’s been a three-and-a-half-year journey, and Walsh says the company has filed more than 5,000 pages of paperwork.

“It’s a historic thing,” Walsh said. “We’re

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How Much Money Do Celebrities Like Jerry Seinfeld and Ray Romano Make From Show Royalties?

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Hit series like Seinfeld, Everybody Loves Raymond, and Friends ended years ago but actors and producers continue to still make bank from reruns.

Matthew Broderick, Jerry Seinfeld and Larry David
Matthew Broderick, Jerry Seinfeld and Larry David |Al Pereira/WireImage

While celebrities like Jerry Seinfeld and Ray Romano reportedly draw a serious royalties paycheck from reruns, not every celebrity involved in a hit television series earns a sweet payout. For instance, the cast from the 1960s and 1970s smash-hit The Brady Bunch hasn’t seen much money from the endless reruns, according to GoBankingRates. Actor Eve Plumb, who played Jan Brady told OK Magazine she and other cast members haven’t made any money from the show in years.

Also, actor Richard Karn who played Al Borland on the sitcom Home Improvement said rerun money is nice, but not financially sustainable. “Every time the show gets bought around the world … you get a little percentage of that. …

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Two Ex-Fed Officials Have a Faster Way to Distribute Money in Recession

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(Bloomberg Markets) — The coronavirus pandemic that shut down economies around the globe showed how crucial—and difficult—it is to get money swiftly to people who need it most in a crisis. Former central bank officials Simon Potter, who led the Federal Reserve Bank of New York’s markets group, and Julia Coronado, who spent eight years as an economist for the Fed’s Board of Governors, are among the innovators brainstorming solutions. They propose creating a monetary tool that they call recession insurance bonds, which draw on some of the advances in digital payments. Coronado, president and founder of MacroPolicy Perspectives LLC, and Potter, nonresident senior fellow at the Peterson Institute for International Economics, spoke with Bloomberg Markets to explain their idea.

BLOOMBERG MARKETS: How would recession insurance bonds work?

JULIA CORONADO: Congress would grant the Federal Reserve an additional tool for providing support—say, a percent of GDP [in a lump sum

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Personal Capital vs. Mint – Which is Best to Manage Your Money?

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Mint and Personal Capital are two web-based, money management platforms that are frequently compared to one another. While there are some similarities, the differences between the two render them very different services. Which you will prefer to work with will depend entirely on what you are looking for the platform to do.

Mint vs. Personal Capital–The Basic Comparison

Mint is an online personal budgeting platform. It pulls your entire financial life into one application. That includes your checking, savings, credit cards, investments, retirement accounts, and even your PayPal account. Mint enables you to look at your entire financial situation holistically, rather than in the bits and pieces.

Mint is one of the most popular budgeting applications available and is part of the TurboTax and Quicken families. The application enables you to manage virtually all aspects of your finances. And perhaps best of all, the application is completely free to use.

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Frozen bank accounts, travel ban: Kuwait pursues 10 influencers for money laundering

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Kuwait’s Attorney General ordered the immediate seizure of all the assets of the 10 social media influencers charged with money laundering and banned them from travel, leading Kuwaiti newspaper, al-Qabas reported on Sunday.

The central bank froze the 10 suspects’ bank accounts and the Ministry of Interior circulated their names to all authorities at land border crossings and airports to ensure they cannot flee, according to al-Qabas.

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The Kuwaiti newspaper released the names of the 10 influencers accused of money laundering, citing an unnamed source, they are: Fouz al-Fahad, Abdulwahab al-Essa, Dana al-Tuwarish, Mishari Buyabis, Halema Bouland, Maryam Reda, Farah Hadi, Jamal al-Najada, Shifa al-Kharaz, and Yaqub Boushehri.

“The awaited decision is to arrest the accused,” al-Qabas cited a source with knowledge of the investigation as saying.

On Monday, the newspaper cited sources close to

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Experts share coronavirus money tips: Savings, taxes and more

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The sudden economic slowdown caused by the coronavirus pandemic has many Americans thinking about their daily finances.

Money experts Andrea Woroch and Allison Kade shared their tips for making the most of your budget.

CORONAVIRUS LAYOFFS SURGE IN U.S., WITH 1 IN 5 HOUSEHOLDS REPORTING LOST WORK

“There is a lot of panic happening right now — from food shortages at grocery stores to health concerns to income and financial worries,” Woroch told FOX Business. “The best thing you can do for yourself right now is to make a financial plan to help you get through these tough times.”

1. Get your tax refund.

Tax season looks a little bit different this year because of the virus. The Trump administration authorized the deferral of $300 billion in IRS payments, although Americans

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Deutsche Bank Says ‘Monopoly Money’ Is Whizzing Across Asia

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A construction site in Shenzhen in southern China’s Guangdong province, on November 9, 2018.


AFP via Getty Images

Even as Asian countries appear to be the first to escape the economic ravages of coronavirus, activity is still below normal.

But money supply growth is a notable exception. Growth in the M2 measure of money supply—that’s all cash in circulation plus savings instruments like money-market funds—is nearly 2 standard deviations above the five-year average, according to
Deutsche Bank
strategists Mallika Sachdeva and Bryant Xu.

There isn’t just one reason for it. Large fiscal transfers in the form of welfare cash handouts and income support, in Thailand and Singapore for example, have boosted deposits, they point out.

Credit guarantees by governments to banks, in India and Malaysia for example, have encouraged loans to small- and medium-size businesses.

And central banks across the region have been purchasing debt, both government securities

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MONETA Money Bank a.s. Stock Price (MONET)

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Stocks: Real-time U.S. stock quotes reflect trades reported through Nasdaq only; comprehensive quotes and volume reflect trading in all markets and are delayed at least 15 minutes. International stock quotes are delayed as per exchange requirements. Fundamental company data and analyst estimates provided by FactSet. Copyright 2020© FactSet Research Systems Inc. All rights reserved. Source: FactSet

Indexes: Index quotes may be real-time or delayed as per exchange requirements; refer to time stamps for information on any delays. Source: FactSet

Markets Diary: Data on U.S. Overview page represent trading in all U.S. markets and updates until 8 p.m. See Closing Diaries table for 4 p.m. closing data. Sources: FactSet, Dow Jones

Stock Movers: Gainers, decliners and most actives market activity tables are a combination of NYSE, Nasdaq, NYSE American and NYSE Arca listings. Sources: FactSet, Dow Jones

ETF Movers: Includes ETFs & ETNs with volume of at least 50,000. Sources: FactSet,

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Sheffield United news LIVE: Blades ‘borrow money from bank against Bramall Lane & assets’ | Chris Wilder’s big selection dilemma ahead of Wolves | Sander Berge on Premier League intensity

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Last updated: Monday, 06 July, 2020, 16:45

  • Chris Wilder spoke to the media this afternoon
  • The Blades boss says he has a big selection dilemma to make
  • Sander Berge believes he is coping better with intensity of Premier League
  • The Blades drew 1-1 at Burnley yesterday
  • Jack O’Connell came off the bench after recovering from a knee injury and is now in contention for a start against Wolves on Wednesday
  • Blades have borrowed money from Emirates Bank, secured against Bramall Lane and the club’s other properties 

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How to avoid wasting money on bank overdraft fees

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A night out to the movies. A new shirt. Groceries. These are all things for which many people would gladly fork over $35. But overdraft fees? Not so much. And yet, that’s the average fee the country’s largest banks charge customers who overdraw their accounts, according to a NerdWallet study.

These fees occur when banks approve transactions that exceed an account’s balance. They are often assessed per transaction, so customers could face multiple fees in a day.

The study also found that the average credit union overdraft fee is nearly $10 less than that of large banks. Other institutions, including some online banks, don’t offer overdraft programs, and so debit card transactions that would overdraw an account are declined. That means the customer wouldn’t be charged an overdraft fee at all.

In our analysis, we

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