Us bank – Alg A http://alg-a.com/ Tue, 27 Sep 2022 13:08:22 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://alg-a.com/wp-content/uploads/2021/10/icon-6-120x120.png Us bank – Alg A http://alg-a.com/ 32 32 Nexo Acquires Stake in National Summit of Federally Chartered U.S. Banks https://alg-a.com/nexo-acquires-stake-in-national-summit-of-federally-chartered-u-s-banks/ Tue, 27 Sep 2022 13:08:22 +0000 https://alg-a.com/nexo-acquires-stake-in-national-summit-of-federally-chartered-u-s-banks/ Crypto lending platform Nexo announced today that it is taking a stake in Wyoming-based Summit National Bank. By taking a stake in the US federally chartered bank, which is regulated by the Office of the Comptroller of the Currency, the Swiss company Nexo is expanding its footprint in the United States. Nexo declined to disclose […]]]>

Crypto lending platform Nexo announced today that it is taking a stake in Wyoming-based Summit National Bank. By taking a stake in the US federally chartered bank, which is regulated by the Office of the Comptroller of the Currency, the Swiss company Nexo is expanding its footprint in the United States.

Nexo declined to disclose terms of the private agreement.

“We prefer not to focus on the size of the transaction, but rather on the mutually beneficial effects the acquisition of the stake will have on both companies and, more importantly, on their customers,” Nexo replied in an email. -email to Decrypt.

The announcement comes shortly after Nexo received a cease and desist notice for its interest product, which eight different state regulators have labeled an unregistered security.

Nexo co-founder and chief financial officer Kalin Metodiev, who will join Summit National Bank’s board of directors, called the move “another milestone in Nexo’s relentless drive to better serve our U.S. customers in line with the regulatory landscape in constant evolution”.

Adding access to Nexo’s suite of products, including a cryptocurrency exchange, lending and digital asset brokerage, will allow Summit customers to use products at the intersection of the traditional finance and blockchain technology.

Nexo says the deal will allow the company to offer bank accounts, asset-backed lending, card programs, and digital asset escrow and custody solutions to US retail and institutional customers.

“We are delighted to welcome Nexo on board,” Summit National Bank Chairman and Chairman Forrest Gilman said in a statement. “This is the culmination of more than two years of unwavering dedication to combining Summit National Bank’s traditional approach and values ​​with our vision for the future of banking.”

Founded as Hulett National Bank in 1984, Summit National Bank initially focused on agricultural and real estate lending. However, with its partnership with Nexo, Summit National Bank is entering Web3.

In July, Nexo announced it would acquire 100% of rival platform Vauld after Vauld halted customer withdrawals, bolstering Nexo’s presence in Asia.

(Disclosure: Nexo is one of 22 strategic investors in Decrypt.)

Stay up to date with crypto news, get daily updates in your inbox.

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US Bank raises its key rate to 6.25% | national company https://alg-a.com/us-bank-raises-its-key-rate-to-6-25-national-company/ Wed, 21 Sep 2022 21:32:34 +0000 https://alg-a.com/us-bank-raises-its-key-rate-to-6-25-national-company/ MINNEAPOLIS–(BUSINESS WIRE)–Sept. 21, 2022– US Bancorp (NYSE: USB) announced that it has raised its prime rate from 5.50% to 6.25%, effective tomorrow, September 22, 2022, at all US bank branches. About US Bancorp: US Bancorp, with approximately 70,000 employees and $591 billion in assets as of June 30, 2022, is the parent company of the […]]]>

MINNEAPOLIS–(BUSINESS WIRE)–Sept. 21, 2022–

US Bancorp (NYSE: USB) announced that it has raised its prime rate from 5.50% to 6.25%, effective tomorrow, September 22, 2022, at all US bank branches.

About US Bancorp:

US Bancorp, with approximately 70,000 employees and $591 billion in assets as of June 30, 2022, is the parent company of the US Bank National Association. The Minneapolis-based company serves millions of customers locally, nationally and globally through a diverse array of businesses: personal and business banking; payment services; Business and corporate banking services; and wealth management and investment services. The company has been recognized for its approach to digital innovation, social responsibility and customer service, including being named one of the 2022 World’s Most Ethical Companies and Fortune’s Most Admired Superregional Bank. Learn more about usbank.com/about.

Show source version on businesswire.com:https://www.businesswire.com/news/home/20220921005970/en/

CONTACT: Investor contact:

George Andersen, Director of Investor Relations, US Bancorp Investor Relations – 612.303.3620, george.andersen@usbank.comMedia Contact:

Jeff Shelman, US Bancorp Public Affairs and Communications – 612.303.9933;jeffrey.shelman@usbank.com

KEYWORD: MINNESOTA UNITED STATES NORTH AMERICA

SECTOR KEYWORD: BANKING PROFESSIONAL SERVICES FINANCE

SOURCE: US Bancorp

Copyright BusinessWire 2022.

PUBLISHED: 09/21/2022 17:30 / DISK: 09/21/2022 17:32

http://www.businesswire.com/news/home/20220921005970/en

Copyright BusinessWire 2022.

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Personal Loans from U.S. Banks: 2022 Review https://alg-a.com/personal-loans-from-u-s-banks-2022-review/ Wed, 21 Sep 2022 18:56:15 +0000 https://alg-a.com/personal-loans-from-u-s-banks-2022-review/ US Bank offers personal loans to existing customers with at least a 660 credit score. Non-customers will likely need a higher credit score, depending on the lender. Funding is available in 26 states, and you must live near a branch to apply. Although the bank can fund loans online, if you don’t yet have a […]]]>

US Bank offers personal loans to existing customers with at least a 660 credit score. Non-customers will likely need a higher credit score, depending on the lender.

Funding is available in 26 states, and you must live near a branch to apply. Although the bank can fund loans online, if you don’t yet have a checking or savings account, you may need to visit the nearest branch to close the loan.

US Bank also offers a separate small loan called the Simple loan.

Contents

US Bank Personal Loans at a Glance

  • Returned payment fee: $25.

  • For US Bank customers: $1,000 to $50,000.

  • For non-US Bank customers: $1,000 to $25,000.

  • For US Bank customers: 1 to 7 years.

  • For non-US Bank customers: 1 to 5 years.

Funding delay after approval

  • For US bank customers: Funds can be sent to a US bank account in minutes.

  • For non-US bank accounts: Funding may take 1-4 business days.

Loans not available in AL, AK, CT, DE, FL, GA, HI, LA, ME, MD, MA, MI, MS, NH, NJ, NY, OK, PA, RI, SC, TX, VT, VA, WV and Washington, D.C.

Where US Bank Personal Loans Stand Out

Rate reduction for automatic payment: Existing customers who make automatic payments from any checking account or personal savings account are eligible for a 0.5 percentage point rate reduction. A rate reduction means that you will pay less interest on your loan overall.

Offers solidarity and guaranteed loans: Applicants can add a co-borrower to their personal loan application or secure the loan with a proof of deposit, a kind of savings account. Adding collateral or a co-borrower with a higher credit score could help you qualify for a lower rate or a higher loan amount.

Quick Funding: Once they sign the loan agreement, current customers can expect to receive the funds in their US bank account within minutes, according to the lender. If you want the funds sent to an external account, you may have to wait one to four business days.

Wide range of repayment terms: Current customers can choose from seven repayment terms, ranging from one to seven years. If you choose a shorter term, you’ll pay less interest, while a longer term means lower monthly payments. Non-customers can apply for terms up to five years.

Where personal loans from US banks fall short

It may be necessary to go to a branch: Although US Bank allows borrowers pre-qualified and complete an online application, some will need to visit a branch to close their loan, depending on the lender.

No direct payment to creditors: If you want to use a personal loan for debt consolidation, US Bank does not send the loan proceeds to your other creditors. Some other banks and online lenders offer this feature to simplify the debt repayment process.

Regulatory action against US Bank

In July 2022, the Consumer Financial Protection Bureau issued an order against US Bank for illegal practices that violated federal laws, including the Truth in Lending Act, Consumer Financial Protection Act, and Fair Credit Reporting Act.

According to the CFPB, the bank implemented a financial incentive sales target, which led to employees opening credit cards, lines of credit and deposit accounts for consumers without their knowledge or permission. These actions then resulted in charges and damage to the credit reports of these individuals.

The CFPB ordered US Bank to stop the practice, develop a remediation plan for affected consumers, and pay a $37.5 million fine.

How to Qualify for a US Bank Personal Loan

To apply for a personal loan from US Bank, you must meet the following conditions:

  • Have a credit score of 660 or higher.

  • Provide a social security number.

  • Provide home address and employment information.

Before applying

  • Calculate your monthly payments. Use a personal loan calculator to determine the APR and repayment term you would need to get a loan with affordable monthly payments.

  • Make a plan to repay the loan. Review your budget to see the impact of the monthly loan payments on your cash flow. If you need to cut other expenses to repay the loan, it’s best to find out before you borrow.

  • Gather your documents. US Bank may request proof of income, which can be a W-2 or a pay stub, as well as photo identification, such as a driver’s license or passport. Having these documents at hand can speed up the application process.

How to Apply for a US Bank Personal Loan

  • Pre-qualify on the US Bank website. You’ll be asked how much you want to borrow and what the funds are used for, along with personal information like your annual income and whether you rent or own your home. Next, the lender will ask for your details before they can preview loan offers. There is no hard credit at this point.

  • Preview loan offers and accept the one that fits your budget. Once you have accepted a loan offer, you will submit a personal loan application. This step may require more documentation, such as W-2s, pay stubs, and bank statements to confirm the information you provided during pre-qualification. US Bank will also perform a credit check upon your application, so your credit score may temporarily drop.

  • Make a plan to repay the loan. US Bank reports payments to the three major credit bureaus, so on-time payments will help build your credit score, but missed payments will hurt it. Setting up automatic payments and keeping tabs on your budget are two ways to manage your loan repayments.

Compare US Bank with other lenders

Personal lenders offer different rates, loan amounts, and special features, so it pays to weigh other options. The best personal loan is usually the one with the lowest APR.

Discover and LightStream are two similar lenders that accept borrowers with good to excellent credit (credit score of 690 or higher) and can fund loans the same or next day after approval.

US Bank vs. Discover

Like US Bank, Discover lets you pre-qualify for its personal loan with a minimum credit score of 660, and it doesn’t charge origination fees. Although Discover doesn’t offer a rate reduction, it will send funds directly to creditors for debt consolidation loans, saving you this step.

US Bank vs. LightStream

LightStream’s personal loans are fee-free and its wide range of repayment terms are similar to those of US Bank. Its larger loan amounts are particularly well suited for financing large expenses, such as home improvement projects. You can add a co-signer to your application to increase your chances of being approved.

How We Rate US Bank Personal Loans

NerdWallet editors rate lenders against a rubric that changes every year as personal loan products evolve. Here is what we have prioritized this year:

Ready to apply? Select “See My Rates” below to compare rates from different lenders on NerdWallet.

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CFPB Fine: Senators seek more information from US bank https://alg-a.com/cfpb-fine-senators-seek-more-information-from-us-bank/ Fri, 09 Sep 2022 16:58:42 +0000 https://alg-a.com/cfpb-fine-senators-seek-more-information-from-us-bank/ Several Democratic senators launched a letter to the CEO of the American bank Andrew Cecere demanding further information after the Consumer Financial Protection Bureau (CFPB) fined the financial institution (FI) $37.5 million in an accounts receivable scandal. The letter also requests that US Bank brief congressional staff on the matter and respond to a number […]]]>

Several Democratic senators launched a letter to the CEO of the American bank Andrew Cecere demanding further information after the Consumer Financial Protection Bureau (CFPB) fined the financial institution (FI) $37.5 million in an accounts receivable scandal.

The letter also requests that US Bank brief congressional staff on the matter and respond to a number of questions by September 6. CFPB investigation spanned five years and found that US Bank violated a number of laws by illegally accessing consumer credit reports and opening accounts without people’s permission.

See also: CFPB fines US bank $37.5 million over unauthorized accounts

The CFBP said its investigation found evidence the bank knew employees were opening accounts without customers’ permission and paying inducements for the sale of banking products, PYMNTS reported last month.

The senators want to know if any employees who participated in the program are still working at the bank and how the data was used when opening unauthorized accounts. They also want to know how many consumers were affected, how many accounts were opened, what type, the amount of revenue generated, and a state-by-state breakdown.

The letter was signed by U.S. Senators Chris Van Hollen (D-Maryland), Sherrod Brown (D-Ohio), Elizabeth Warren (D-Massachusettes), Catherine Cortez Masto (D-Nevada) and Robert Menendez (D-New Jersey ) .

Read more: Senators at CFPB: Using authority to protect consumers from P2P payment scams

“It is unacceptable that US Bank has incentivized and pressured its employees to take advantage of their unique access to a veritable treasure trove of sensitive personal information to enroll unsuspecting customers in fee-incurring financial products and services” , according to the letter. .

The letter argues that the CFPB consent order “tells a problematic story” of the nation’s fifth largest bank inciting its employees to increase their profits “at the expense of its own customers”.

Senators point to similar incidents with Wells Fargo, where a $3 billion fine was imposed by the Securities and Exchange Commission (SEC), a $100 million fine imposed by the CFPB, a $35 million tax from the Office of the Comptroller of the Currency (OCC), and a fine of $50 million by the City and County of Los Angeles.

“It is disturbing that this is the second time in less than a decade that the federal government has called a major bank to account and reparations for perpetuating this practice,” the senators said in the letter.

New PYMNTS Study: How Consumers Use Digital Banks

A PYMNTS survey of 2,124 US consumers shows that while two-thirds of consumers have used FinTechs for some aspect of banking, only 9.3% call them their primary bank.

We are always looking for partnership opportunities with innovators and disruptors.

Learn more

https://www.pymnts.com/news/cfpb/2022/cfpbs-chopra-tells-gop-old-laws-still-apply-for-new-offenders/partial/

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US bank partners with LiquidX for transactions https://alg-a.com/us-bank-partners-with-liquidx-for-transactions/ Fri, 09 Sep 2022 16:58:42 +0000 https://alg-a.com/us-bank-partners-with-liquidx-for-transactions/ In an effort to make supply chain transactions faster and easier, American bank partners with Trade Finance FinTech LiquidX to facilitate transactions between buyers and sellers. “With so many supply chain challenges for businesses, we want to help make the funding process as smooth as possible,” Dan Sonhead of the global banking division of US […]]]>

In an effort to make supply chain transactions faster and easier, American bank partners with Trade Finance FinTech LiquidX to facilitate transactions between buyers and sellers.

“With so many supply chain challenges for businesses, we want to help make the funding process as smooth as possible,” Dan Sonhead of the global banking division of US Bank, said in a Press release Tuesday (May 10).

“This new collaboration will provide a single intuitive interface that will seamlessly connect suppliers, buyers and our bank across the supply chain ecosystem. As one of the most trusted banks in the United States, with some of the highest debt ratings, we can unlock valuable working capital for our customers,” added Son.

See also: Supply chain disruptions underscore the value of alliances and the need to strengthen payment relationships

Collaboration with customers and suppliers, including mutual support around payments, has grown as supply chains have become increasingly strained. The release notes that the partnership between US Bank and LiquidX comes at a time of unprecedented tension in the global supply chain.

The collaboration will combine the bank’s “strong balance sheet” with LiquidX’s streamlined platform technology to help resolve frictions around supply chain finance and cash flow issues.

The partnership will also allow suppliers and buyers to connect their supply chain systems to US Bank and transact through LiquidX’s platform. The financing solutions offered by the bank via the collaboration will offer almost immediate payment to suppliers while offering buyers extended payment terms.

Read more: PYMNTS Intelligence: How Gen Z and Gen Z Payment Preferences are Driving B2B Payments Innovation

Jim ToffeyCEO of LiquidX, said supply chains are looking for “much-needed cash” and the company looks forward to meeting that challenge by offering its “scalable and flexible technology” in partnership with US Bank, “one of the largest and most important in the country”. innovative banks.

The collaboration builds on existing supply chain finance solutions already available to US Bank customers. The Receivables Purchase Program allows sellers to convert credit sales into immediate cash flow, and the Approved Receivables Financing Program helps buyers pay suppliers sooner.

New PYMNTS Study: How Consumers Use Digital Banks

A PYMNTS survey of 2,124 US consumers shows that while two-thirds of consumers have used FinTechs for some aspect of banking, only 9.3% call them their primary bank.

We are always looking for partnership opportunities with innovators and disruptors.

Learn more

https://www.pymnts.com/loans/2022/banking-platform-oportun-gains-150m-secured-loan-from-neuberger-berman/partial/

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US bank launches free Zelle e-cards https://alg-a.com/us-bank-launches-free-zelle-e-cards/ Fri, 09 Sep 2022 16:58:42 +0000 https://alg-a.com/us-bank-launches-free-zelle-e-cards/ American bank is trying to adapt to the pandemic holiday with new e-cards aimed at spreading joy through contactless cash donations, according to a press release. eCards can be sent with payments made as gifts via Zelle in the bank’s mobile app. The eCards, made in collaboration with FinTech startup Vouchr, will offer over 200 […]]]>

American bank is trying to adapt to the pandemic holiday with new e-cards aimed at spreading joy through contactless cash donations, according to a press release.

eCards can be sent with payments made as gifts via Zelle in the bank’s mobile app. The eCards, made in collaboration with FinTech startup Vouchr, will offer over 200 personalized designs for customers to choose from, including themes such as “holidays, but also birthdays, graduations, a simple thank you or congratulations“, among others. The release says the cards are “animated, dynamic and may include a message.”

The cards are free for US Bank customers, the statement said, and will be easy to include with payments.

The purpose of the cards is to provide a safe, contactless way to spread holiday greetings during the pandemic, intended to avoid health issues or to go to the post office or the grocery store just to buy a card.

Zelle is used for fast transactions where funds are usually made available within minutes in the recipient’s bank account.

Zelle’s transactions are up 64% since last year, with faster growth during the pandemic as customers seek digital ways to send money. Recently, Zelle surpassed one billion payments in 12 months. US Bank’s work with Zelle, the statement said, “is part of the company’s broader strategy to enhance the customer experience with intuitive and easy-to-use digital capabilities that are fast and secure.”

Gift card sales are up this year, PYMNTS writes, with the pandemic’s push toward online shopping fueling the trend. The data, according to Todd DipaolaCEO of consumer intelligence firm InMarket, shows how people have adapted to the new way of shopping during the pandemic.

“The data is clear: gift cards are booming for the holidays, and the net effect could be a Q1 boost as they’re used in the new year,” he said. declared, according to PYMNTS. “Gift cards are no longer a last minute gift – they add an option in uncertain times, showing the power of choice.”

New PYMNTS Study: How Consumers Use Digital Banks

A PYMNTS survey of 2,124 US consumers shows that while two-thirds of consumers have used FinTechs for some aspect of banking, only 9.3% call them their primary bank.

We are always looking for partnership opportunities with innovators and disruptors.

Learn more

https://www.pymnts.com/loans/2022/banking-platform-oportun-gains-150m-secured-loan-from-neuberger-berman/partial/

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American bank acquires TravelBank | PYMNTS.com https://alg-a.com/american-bank-acquires-travelbank-pymnts-com/ Fri, 09 Sep 2022 16:58:42 +0000 https://alg-a.com/american-bank-acquires-travelbank-pymnts-com/ US Bancorp — the parent company of American bank — will acquire Travel Banka FinTech offering all-in-one travel and expense management solutions. The company announced the acquisition in a Press release Tuesday (November 16), indicating that the agreement should be concluded during the fourth quarter of the year. Financial terms have not been released. Based […]]]>

US Bancorp — the parent company of American bank will acquire Travel Banka FinTech offering all-in-one travel and expense management solutions.

The company announced the acquisition in a Press release Tuesday (November 16), indicating that the agreement should be concluded during the fourth quarter of the year. Financial terms have not been released.

Based in San Francisco, TravelBank helps businesses track expenses, automate processes, ensure compliance, and streamline reporting and approval.

“We are focused on giving businesses more confidence, control and convenience in managing payments and expenses. TravelBank will help us accelerate these efforts,” said Shailesh Kotwalvice president of payment services at US Bank.

“By partnering with TravelBank over the past year, we have seen how effective the solution is in improving business efficiency. This acquisition will allow us to significantly expand our customer base and deliver even more value to our customers,” he said.

Related news: TravelBank obtains certification for cybersecurity standards

According to the statement, TravelBank’s platform allows businesses to avoid using paper-based and manual travel and declaration systems, by automating this work and adapting it to the unique needs of each business.

“With its track record of delivering innovative payment solutions that improve business efficiency, we couldn’t be more excited to join the US Bank family,” said Duke Chung, co-founder and CEO of TravelBank. “We created TravelBank to provide a unique experience for managing travel and expense reports. Our combined offering with US Bank will be the most comprehensive expense, travel and payment management solution in the industry.

US Bank says the acquisition will allow it to accelerate the integration of digital payments into the commercial segment.

Last month, the bank said it was considering offering more payment services. In a presentation to analysts, the bank said that of its 1.1 million business, only 28%, or 308,000, use payment services.

“With 1.1 million business banking relationships, there is a significant opportunity for us to deepen current relationships and acquire new customers,” the presentation reads.

New PYMNTS Study: How Consumers Use Digital Banks

A PYMNTS survey of 2,124 US consumers shows that while two-thirds of consumers have used FinTechs for some aspect of banking, only 9.3% call them their primary bank.

We are always looking for partnership opportunities with innovators and disruptors.

Learn more

https://www.pymnts.com/cryptocurrency/2022/bankman-frieds-stake-in-quant-trading-firm-raises-conflict-questions/partial/

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DeFi Pioneer MakerDAO Funds US Regulated Bank https://alg-a.com/defi-pioneer-makerdao-funds-us-regulated-bank/ Wed, 07 Sep 2022 07:00:00 +0000 https://alg-a.com/defi-pioneer-makerdao-funds-us-regulated-bank/ In August, ManufacturerDAOthe organization behind the decentralized stablecoin Dai, provided $100 million in credit to Huntingdon Valley Bank (HVB)a Pennsylvania-based community bank, which it will use to provide new loans to local businesses in the Philadelphia area. It’s a remarkable moment. One of the leading decentralized autonomous organizations in the cryptocurrency world is now funding […]]]>

In August, ManufacturerDAOthe organization behind the decentralized stablecoin Dai, provided $100 million in credit to Huntingdon Valley Bank (HVB)a Pennsylvania-based community bank, which it will use to provide new loans to local businesses in the Philadelphia area.

It’s a remarkable moment.

One of the leading decentralized autonomous organizations in the cryptocurrency world is now funding a publicly traded and regulated US bank, which is not allowed to hold cryptocurrencies on its own balance sheet, and in return it is getting yield and collateral protection of conventional loans – mortgages, commercial loans. loans to small and medium enterprises – all held in a master trust.

Crypto is doing something useful for once.

This is a move that traditional institutions now looking to gain exposure to crypto assets should take note of. Some of the crypto natives want to go the other way and gain exposure to conventional assets for their yield and security.

But a backlash from crypto purists now threatens to overwhelm this breakthrough.

Surprisingly, even after the crypto crash that followed the detachment of the UST stablecoin from Terra in May and the collapse of crypto lenders such as Celsius, investment banks and mainstream asset managers are still looking to profit from adoption. of cryptocurrency by traditional institutional investors.

In

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NYSE-Powered ETF Leaders: US Bank’s Michael Barolsky https://alg-a.com/nyse-powered-etf-leaders-us-banks-michael-barolsky/ Fri, 29 Jul 2022 18:33:53 +0000 https://alg-a.com/nyse-powered-etf-leaders-us-banks-michael-barolsky/  In April, US Bank was a year away from converting its first mutual fund to an exchange-traded fund. From what senior vice president Michael Barolsky has seen, “advisor interest” in converting mutual funds to ETFs “is only accelerating.” “In recent months, we’ve already converted five additional mutual funds to ETFs, and we’ve seen interest […]]]>



In April, US Bank was a year away from converting its first mutual fund to an exchange-traded fund. From what senior vice president Michael Barolsky has seen, “advisor interest” in converting mutual funds to ETFs “is only accelerating.”

“In recent months, we’ve already converted five additional mutual funds to ETFs, and we’ve seen interest from a wide range of advisors for a variety of reasons,” Barolsky told NYSE’s Judy Shaw for “ETF Leaders, Powered by the New York Stock Exchange” at Exchange: An ETF Experience 2022.

These conversions aren’t just for typical equity funds. In March, US Bank was “making conversions for long-short strategies and option-based funds,” according to Barolsky. “So that really covers a very wide range of reasons why advisors want to make these conversions.”

Advisors are seeking these conversions because they want the tax efficiency that ETFs provide, they want lower costs, and they want “the distribution opportunities available to ETFs that they don’t find in the mutual fund space of placement “.

Barolsky added that US Bank has “several other such [conversions] planned with [its] customers later this year, so there will be a lot more to come.

Using the Multi-Series Trust

Barolsky has seen a growing trend for advisors of all shapes and sizes to use a multi-series trust structure to enter the ETF market, since the structure is “designed to lower barriers to entry”.

With an MST, a new issuer can “bring a product to market while already being surrounded by professionals who know the ETF space,” he said. This includes “all that infrastructure that’s really hard to build and very expensive to acquire if you’re new to the industry,” such as an established board of directors, service providers, and legal counsel.

“A lot of room for innovation”

Despite so many ETF assets tied to major issuers, US Bank continues to see “a steady stream of new advisers entering the space,” according to Barolsky. There are also a lot of innovations in the ETF market, most of which come from new entrants.

This innovation “comes from start-up advisors or small advisors, whether you’re looking at developments in cryptocurrencies, or ESG strategies, or options-based funds,” Barolsky said. “There are a wide variety of new trends that all come from small advisors. So there’s still plenty of room for innovation here, and we’re going to continue to see it from new entrants into the space.

For more news, insights and strategy, visit VettaFi.

Learn more at ETFtrends.com.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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Best US bank credit cards for August 2022 https://alg-a.com/best-us-bank-credit-cards-for-august-2022/ Fri, 29 Jul 2022 07:00:00 +0000 https://alg-a.com/best-us-bank-credit-cards-for-august-2022/ How to Choose the Best US Bank Credit Card Here’s how to find the best US Bank credit card for you: Decide what type of credit card you want. Select US Bank credit cards in this category. Compare the cards and choose your favorite. By choosing a type of the map first, you can narrow […]]]>

How to Choose the Best US Bank Credit Card

Here’s how to find the best US Bank credit card for you:

  1. Decide what type of credit card you want.
  2. Select US Bank credit cards in this category.
  3. Compare the cards and choose your favorite.

By choosing a type of the map first, you can narrow down your options. Here are the types of credit cards offered by US Bank:

If you’re not sure which type of card is right for you, think about the main reason you’re getting a new credit card.

Do you want to earn rewards on qualifying purchases? Cash rewards cards and travel rewards cards are both good options. Are you trying to build credit? A secured credit card, which requires a security deposit to open, is usually easy to get even if you have no credit history. Looking for a good APR credit card? Start with a card that offers an introductory APR of 0%.

After choosing a card type, you can compare US Bank credit cards that suit your needs. See what they offer and choose the one you like the most. To quickly compare multiple credit cards, use The Ascent’s credit card comparison tool.

What credit score do you need for a US Bank credit card?

The credit score you need for a US Bank credit card varies by card. US Bank offers credit cards for consumers in all credit ranges, including those with low credit scores or no credit history. Getting a credit card approved is all about finding the right card for your situation.

The easiest credit cards to get with US Bank are its secured credit cards. To open a US Bank secured card, you must pay a security deposit equal to the starting credit limit. This type of card is the best choice if your credit score is below 600 or if you don’t have a lot of credit history yet.

Learn more: Secured or Unsecured Credit Cards: Which Should You Get?

If you have a higher credit score, you may qualify for a US bank card with more features. The best cards from the card issuer generally require a credit score of at least 670.

How to Maximize US Bank Credit Card Rewards

Here are some tips to help you maximize your US Bank credit card rewards.

Choose the right card

Each US Bank rewards card has bonus categories where it earns more. You can find cards that pay extra on meals, travel, and even in the bonus categories you choose. Pick a card with a bonus category (or multiple categories) where you typically have high monthly spend in order to earn more rewards.

Get a sign-up bonus

Several US bank cards offer valuable sign-up bonuses. A sign-up bonus is a special offer for new cardholders, such as 50,000 points for spending $3,000 within the first 120 days of account opening. Choose a card with a good bonus and make sure you spend enough to benefit from it.

Put every purchase on your US bank card

You earn rewards on your purchases, so take full advantage of it. Use your US Bank rewards card for all your expenses. Avoid using your debit card or cash, as you won’t earn points or cash back this way.

Pay your credit card bill in full

Earning rewards is great, but to make those rewards worthwhile, you also need to avoid credit card interest charges. Each time you pay your credit card bill, pay the full statement balance. If you do, you won’t have any interest charges on your purchases.

Redeem rewards for maximum value

Learn about the different ways to use your card rewards and the value they offer. It’s quite simple with a cashback card. You can redeem this as a credit on your credit card bill or as a direct deposit to a bank account with US Bank. If you have a card that earns rewards points, there may be a variety of redemption options.

A final strategy that works well for maximizing credit card rewards is to get more than one credit card. If you have multiple US Bank credit cards, you can get more sign-up bonuses and earn bonus rewards in more spending categories.

Managing multiple credit cards is more difficult than managing just one. If you think having multiple cards might cause you to spend more or you might miss payments, it’s best to stick with just one. But if you’re sure that won’t be a problem, you may eventually want to add another US bank card to your wallet.

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