As is well known, the great case of Tournier v National Provincial and Union Bank of England held that a bank owes a duty of confidentiality to its customers. ... Information attained from other sources, like a credit agency, is also covered by the duty. ... Traditionally, a bank would make a status enquiry about a customer's credit standing with another bank. ... Sunderland sued the bank for disclosing that information, but the bank succeeded as it was in the bank's interest and the account balance would also be disclosed to the public in court. Another situation where this excep...

• Word Count: 1035
• Approx Pages: 4
• Has Bibliography

Interest rates were low, credit quality was good, and inflation was low. ... But good times can't continue because interest rate hikes cause reduced lending activity, damaged credit quality, and reduced values of bond portfolios. ... Bank of America and Nation's Bank also agreed to merge shortly afterwards which became the largest bank in the United States. ... In fact, Charlotte, NC is practically owned by Bank of America and First Union. 2. ... Third, falling rates lower the cost of credit, which stimulates loan demand and reduces delinquency rates. ...

• Word Count: 714
• Approx Pages: 3
• Grade Level: High School

Availability of funds to homebuyers no longer depends on local credit conditions and is no longer subject to local ban's potential monopoly powers; with mortgages passs-throughs trading in national markets, mortgages can flow worldwide to wherever demand is greatest. Banks, investment companies, insurance companies, and credit unions are known as financial intermediaries. Bank raises funds by borrowing (taking deposits) and lending that money to other borrowers together. The spread between interest rates paid to depositors and the rates charged to borrowers is the source of the banks ...

• Word Count: 317
• Approx Pages: 1
• Grade Level: Undergraduate