Vanguard - Bank?

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abuss368
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Vanguard - Bank?

Post by abuss368 »

Bogleheads -

A few years ago I read a few articles on a "rumor" that Vanguard may have been considering starting a bank. Whatever became of this? Does anyone have any idea?

http://www.reuters.com/article/us-vangu ... 1Q20120712

Best.
John C. Bogle: “Simplicity is the master key to financial success."
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Re: Vanguard - Bank?

Post by 123 »

I would suspect there are two likely reasons nothing observable has happened with this. One, with low interest rates it's harder for banks to squeeze out a profit and two, there is some regulatory interference with executive compensation levels if an organization includes a bank. A bank subsidiary can muck up the executive compensation works in the recent regulatory environment.
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Re: Vanguard - Bank?

Post by abuss368 »

The article I provided a link to referenced the uncertainty with the new money market rules and changes at the time.
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Re: Vanguard - Bank?

Post by cfs »

Close but no bananas - Vanguard Advantage Accounts

https://personal.vanguard.com/us/help/FAQVAAContent.jsp

Thanks for reading ~cfs
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Re: Vanguard - Bank?

Post by abuss368 »

cfs wrote:Close but no bananas - Vanguard Advantage Accounts

https://personal.vanguard.com/us/help/FAQVAAContent.jsp

Thanks for reading ~cfs
Hi cfs -

I read this on the Vanguard website many years ago. It appears to not be well discussed or marketed.
John C. Bogle: “Simplicity is the master key to financial success."
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Re: Vanguard - Bank?

Post by Silence Dogood »

abuss368 wrote:Bogleheads -

A few years ago I read a few articles on a "rumor" that Vanguard may have been considering starting a bank. Whatever became of this? Does anyone have any idea?

http://www.reuters.com/article/us-vangu ... 1Q20120712

Best.
Déjà vu?

viewtopic.php?t=187149
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Re: Vanguard - Bank?

Post by cfs »

abuss368 wrote:
cfs wrote:Close but no bananas - Vanguard Advantage Accounts

https://personal.vanguard.com/us/help/FAQVAAContent.jsp

Thanks for reading ~cfs
Hi cfs -

I read this on the Vanguard website many years ago. It appears to not be well discussed or marketed.
AB, Vanguard sent me a brochure a couple of years ago, but I have no need for this type of service. tfr/cfs
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Re: Vanguard - Bank?

Post by abuss368 »

Silence Dogood wrote:
abuss368 wrote:Bogleheads -

A few years ago I read a few articles on a "rumor" that Vanguard may have been considering starting a bank. Whatever became of this? Does anyone have any idea?

http://www.reuters.com/article/us-vangu ... 1Q20120712

Best.
Déjà vu?

viewtopic.php?t=187149
Thank you!
John C. Bogle: “Simplicity is the master key to financial success."
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