New York Community Bank’s online arm is paying the nation’s highest interest rate
Publishing timestamp: 2024-04-10 07:12:40
Summary
NYCB, a regional lender that recently needed a capital injection, is offering the highest interest rate for savings accounts in the country at 5.55%. This could be a sign of funding pressure for the bank, which has been struggling with losses on commercial real estate loans. Despite the high rate, NYCB's stock price has still been declining, and other established banks have been dropping their rates in the past month.
Sentiment: MIXED
Tickers: AXP, JPM, NYCB, GS, ALLY,
Keywords: american express co, personal saving, banks, ally financial inc, breaking news: markets, goldman sachs group inc, jpmorgan drn, business news, breaking news: investing, new york community bancorp inc, personal finance, investment strategy,
Source: https://www.cnbc.com/2024/04/10/nycb-is-paying-the-nations-highest-interest-rate-apy.html