Wall Street re-engineers the CD—and returns suffer

Traditional certificates of deposit offer better interest rates than normal savings accounts for customers who agree to lock up funds for a period of time. Since the 1960s, they have been among the most popular products retail banks offer. Now Wall Street has re-engineered the most bread-and-butter of investments in a way that leaves many investors with lower returns, and facing losses if they have to cash out early.

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Written By: Jean Eaglesham, Sarah Krouse, Ben Eisen

Published By: www.wsj.com

September 13, 2016 In: Financial Articles Comments (None)