Senate debates extending Transaction Account Guarantee program The U.S. Senate has taken up legislation regarding the Transaction Account Guarantee program, a federal initiative designed to protect certain non-interest bank accounts with insurance coverage. The program was developed in the height of the economic recession as a way to protect small banks while larger institutes either failed or were bailed out by the federal government. The program has been considered a boon for small, community-based banks that would have collapsed without adequate insurance protection. Program could continue to protect small banks…
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Survey says that car dealerships profit big time from selling insurance products
Finaccord, a financial market research group, conducted a study across 26 countries regarding the financial impact of up-selling consumers on “extras” when they purchase a new car. The numbers are staggering on how it’s affecting car dealers and manufacturers profit margins. When dealerships partake in selling insurance products like gap insurance, extended warranties, auto insurance, roadside assistant programs and creditor insurance they benefit wildly. According to Finnacord, their study shows the importance of the said factors to the automotive industry in the whole of Europe. In the countries that were…
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