Allison Prang
speaker
165 appearances
4 recordings
1 series
first heard Oct 2018
last heard Mar 2021
Allison Prang’s voice in public audio — every appearance, attributed to the second.
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Appearances
So 2.15 percent.
And now most recently they said it's, you know, 2 percent.
So that's even a more sizable drop than the previous one.
Exactly.
We wrote a story about that looking at when the Marcus rate was cut by Goldman and then also Ally had the same situation.
And yeah, if you're a bank, I mean...
the more money you have to pay out in interest, it's pressuring your profits.
And especially in a lower interest rate environment, banks are bringing in less money off interest from loans.
So to protect your company's earnings, you want to cut back on costs.
And that cost is one.
They kind of ebb and flow together.
That's a really good question.
For banks, like I said, with, you know, it pressures their profits.
But yeah, to bring in a new consumer, you want to have a really good interest rate or a top rate to kind of be the eye-grabbing rate that people, you know, want to jump and throw their money in or move their money in from another account.
So totally, you have to very much play with...
As a bank, do you need deposits?
Should you pay up because you need a lot of deposits?
Should you pay more interest to attract more people?
Or do you have a little more flexibility?
Can you save money and lower your rate, still bring some people in, but also save on costs?
Showing 61–80 of 165 · page 4 of 9
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