KeatsConnelly Cross-Border Weekly Best of the Web 2015-2-6

web-search-greyEvery week we share news stories, blog articles and other interesting stuff from around the web that received the most views, shares, comments and overall interest on various KeatsConnelly social media outlets.

This week’s mix of articles jumps around the board quite a bit. The first piece offers a view on an interesting study painting Canada’s current household debt position in a not-so-pretty light. The second piece discusses the Bank of Canada’s rate cutting and what they might mean (or not mean) for lending rates in Canada. And we finish with a link from the Consumer Financial Protection Bureau to a report taking a great stab at defining “financial well-being.”

Canada 2nd Only To Greece In Household Debt Growth, Risks Crisis: Study (  – Canada is a world leader in an area it may not want to be — household debt. A new study from the McKinsey Global Institute finds Canada has seen the second-highest increase in household debt, relative to income, among developed countries since the Great Recession. That places Canada behind only crisis-plagued Greece on this measurement, which looks at the growth in household debt between 2007 and 2014. The report identifies Canada as one of seven countries vulnerable to a crisis caused by excessive consumer debt. The others are the Netherlands, South Korea, Sweden, Australia, Malaysia, and Thailand…

If you don’t get the full Bank of Canada rate cut, what good is prime? ( – In the past, when banks have declined to pass along the full rate cut offered by the Bank of Canada — as all the major banks did this week — that gap never came back: The spread between the banks’ prime rate and the central rate remained permanently enlarged, to the detriment of borrowers. And with the Bank of Canada possibly ready to cut rates again in March — a scenario that is being actively discussed, according to industry sources — Canada’s major banks may once again only pass on part of the reduction…

Financial well-being: The goal of financial education ( – A growing consensus is emerging that the ultimate measure of success for financial literacy efforts should be improvement in individual financial well-being. But financial well-being has never been explicitly defined, nor is there a standard way to measure it. This report provides a conceptual framework for defining and measuring success in financial education by delivering a proposed definition of financial well-being, and insight into the factors that contribute to it. This framework is grounded in the existing literature, expert opinion, and the experiences and voice of the consumer garnered through in-depth, one-on-one interviews with working-age and older consumers…

Come back next week for more interesting news and articles. Enjoy your weekend!

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