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Bank of America Adds EV Charger Financing
Bank of America recently announced that it would offer financing for electric-vehicle charges along with vehicle loans for its customers. It plans to offer the financing add-on through carmakers and dealers as charger prices in…
US Federal Reserve Assets More Than Doubled from $4.1 Trillion in January 2021 to a Peak Level of $9.0 Trillion in April 2022. Fighting Inflationary Pressures, the Federal Reserve Has Reduced Its Assets by 7.0% to $8.3 Trillion as of March 2023
Battling importunate inflationary effects, the US Federal Reserve is shedding assets, reducing the size of its balance sheet by 7.0% from peak levels observed in April of 2022 to current levels. This reduction is consistent…
Dealership Profits Reached Record Levels in 2022
Profits per location for dealerships owned by public auto retailers reached an estimated $6.5 million, more than triple pre-pandemic levels, according to the Q4 2022 Haig Report. Experts believe that profits may have peaked as…
Silicon Valley Bank’s March 10th Collapse Prompts Historical Inquiry into Bank Failures, Yielding Fascinating Results
On March 10, 2023, in the second largest bank failure in US history, Silicon Valley Bank collapsed. The Federal Deposit Insurance Corp. stated that it has taken control of the bank via a newly created…
Small Businesses Turn to Non-Bank Lenders Amid High Cost of Capital and Tightening Loan Approval Rates at Big Banks
As interest rates on SBA and traditional term loans continue to rise, non-bank lenders are becoming an increasingly attractive option for small businesses. Although the cost of capital offered by big banks is still slightly…
