Items Tagged with 'Bankrate.com'

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  • Former Bankrate CFO gets 10 years for cooking the books to the tune of $25 million

    Pleaded guilty to defrauding shareholders out of $25 million
    The former chief financial officer of Bankrate will spend the next 10 years in prison after admitting in court earlier this year that he falsified the company’s accounts in a scheme that ended up costing shareholders $25 million. According to the Department of Justice, Edward DiMaria used his position at Bankrate to artificially boost the company’s earnings from 2010 through 2014.
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  • Here’s how people use their home equity

    Survey reveals 44% would use it to consolidate debt
    The amount of tappable equity available to American homeowners recently smashed records by surpassing $6 trillion. And while recent data shows many Americans are holding back on accessing what may be their greatest source of wealth, some are using it, and you might be surprised to hear what they’re spending it on.
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  • Former Bankrate CFO admits to defrauding shareholders out of $25 million

    Edward DiMaria pleads guilty to accounting and securities fraud
    Bankrate’s former chief financial officer admitted in court this week that he cooked the company’s books over a four-year period in a scheme that eventually cost shareholders more than $25 million. According to the DOJ, Edward DiMaria used his position at Bankrate, a publisher, aggregator, and distributor of personal finance content and lead generator for the financial services industry, to artificially inflate the company’s earnings from 2010 through 2014.
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  • Financial publishing giant Bankrate selling to Red Ventures for $1.24 billion

    All-cash deal values Bankrate at $1.4 billion
    In a move that could shake up the financial services industry, Bankrate announced earlier this week that it agreed to be acquired by Red Ventures, which bills itself as a “digital consumer choice platform,” in a deal that values Bankrate at $1.4 billion. Under the terms of the agreement, Bankrate shareholders will receive $14 per share in cash, which places the total purchase price for Bankrate at approximately $1.24 billion.
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  • Youngest homeowners deemed most likely to remodel

    Tend to turn to savings instead of equity
    A new Bankrate survey shows youngest homeowners are the most prone to making home improvements in the near future. About 52% of homeowners planning a project over the next year indicate they want to work on their home's exterior. See how the ages break down.
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  • Survey: 45% of non-homeowners say finances keep them from buying

    Nearly 30% say they can’t afford a down payment
    Nearly half of all non-homeowners say that their financial situation is preventing them from buying a home, a new report from Bankrate.com showed. According to Bankrate’s survey, nearly 30% of all non-homeowners say that they can’t afford a down payment, despite only needing to save 3%.
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  • CFPB launches investigation into Bankrate mortgage rate tracker

    Questions Bankrate’s quality control process
    The CFPB is requesting that the publishing company produce “certain documents” and answer questions relating to the company’s quality control process for its mortgage rate tables. The inquiry could serve as a wakeup call as many websites in the mortgage space offer rate trackers as a service. Click the headline for full coverage.
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  • Quicken Loans selling credit-monitoring company Quizzle to Bankrate

    Sale marks first time Quicken sells self-built company
    In a first for the company, Quicken Loans is set to sell off a self-conceived and self-built company. The company announced Wednesday that it agreed to sell Quizzle, the national credit monitoring site which began in 2008 as a project of Quicken Loans’ marketing team, to Bankrate.
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