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What Is a Bank Endorsement? A bank endorsement is a guarantee by a bank confirming that it will uphold a check or other negotiable instrument, such as a banker’s acceptancefrom one of its customers. This assures any third-party that the bank will back the obligations of the creator of the instrument in the event the creator cannot make payment. Key …

Summary Credit card enthusiast and expert with formal education and work experience in accounting. Holds a Certified Pubic Accountant (CPA) license in Virginia. Has professionally written for several major publications including U.S. News & World Report, Credit Karma, LendingTree and more. Founded Money Manifesto, a personal finance blog, in 2012. Experience Lance spent six years in public and corporate accounting …

Macy’s, Inc. (M) stock sold off on Tuesday after a seemingly benign fourth quarter 2019 report, posting earnings per share of $2.12, which beat estimates by $0.14. Revenue fell 1.4% year over year, continuing a contraction that started in the middle of the last decade when e-commerce grabbed huge market share from brick-and-mortar retailers. Comparative store sales dropped less than …

The SPDR Gold Shares ETF (GLD) made new highs on Monday before giving up some ground on Tuesday as concerns about the novel coronavirus spread across Europe and the United States. The number of cases in Italy soared past 300 by Tuesday, while the Centers for Disease Control (CDC) warned that the virus would likely spread across the United States …

British trust law enjoys a long, fascinating history dating back to the feudal times of the 12th century and the Statute of Uses adopted during the reign of Henry VIII in the 16th century. Back then, trust and equity rules were established as a parallel justice system to address “inequity” of common law around property disputes (and to appease disgruntled claimants). …

What Is Lifestyle Inflation? Lifestyle inflation refers to an increase in spending when an individual’s income goes up. Lifestyle inflation tends to become greater every time an individual gets a raise and can make it difficult to get out of debt, save for retirement, or meet other big-picture financial goals. Lifestyle inflation is what causes people to get stuck in a …

What Is the Modified Dietz Method? The modified Dietz method is a way to measure a portfolio’s historical return that is based on a weighted calculation of its cash flow. The method takes into account the timing of cash flows and assumes that there is a constant rate of return over a specified period of time. The modified Dietz method …

What Is a Cashier’s Check? A cashier’s check is a secure way to make large payments. The check itself is written by a financial institution such as a bank or credit union against its own funds. When you request a cashier’s check from your bank, money is moved out of your account and into the bank’s account, and then a …

The recent Morgan Stanley acquisition of E*TRADE is one of the biggest shake-ups in the brokerage industry in recent years. But it’s not exactly a surprise. Mergers and acquisitions are one the key trends shaping the industry at the moment, and they’re likely to continue for the foreseeable future. Yet a merger of this size can have a significant impact …