By Neal Reynolds A few weeks ago, I wrote a blog entitled, “Prevent bank branch closings with free WiFi” that received a huge response. Then, just last week, the Wall Street Journal wrote an article “Bank To-Do List: Make a Deposit, Grab a Brew, Maybe Strike a Pose,” where they talked about the many ways banks are drawing potential customers into their branches. Umpqua … [Read more...]
What banks giveth, the tax man taketh away
A recent article in the Wall Street Journal talks about how banks that have given away incentives to new customers are now sending those same customers 1099’s. As the banking industry has become more competitive, especially with bank’s paying very little on CDs and Money Market accounts, many banks are offering gifts that are more valuable than a toaster. As a result, … [Read more...]