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Allstate Corp. and Discover Financial Services said they had entered an agreement in which Discover will buy substantially all of Allstate’s bank deposits.
The companies called the deal a “multiyear distribution and marketing agreement.” As part of the agreement, Allstate agents and affiliates will offer personal savings and money-market accounts as well as other financial services to their customers through Discover. Get the full story »
Chase plans to stop issuing new debit rewards cards in February. An executive from the bank disclosed the plans Thursday at a banking event.
A Chase spokesman said Friday that the bank is still reviewing the program for existing debit reward customers. Get the full story »
It appears that consumers have had enough with the low interest rates paid by banks. Bank deposits are shrinking for the first time in two decades, a new analysis shows. Get the full story »
