Buyer Beware: The Weakest Banks Often Offer the Highest Interest Rates
Posted July 8, 2008 - 12:46 by Xin Lu
Today the troubles of IndyMac bank was splashed in the headlines. Its stock has fallen to nearly $0 and depositors are making a run at closing their accounts. IndyMac has been consistently been paying one of the highest CD interest rates in the nation, and it is a prime example of a financially weak bank that offers high rates to attract new deposits.
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