Banks are relying more on brokered CDs as consumers shifted money out of low-interest accounts, FDIC data indicates
Consumers move to interest-bearing accounts; banks increase funds for brokered CDs.
Marc Wojno is a former Bankrate finance editor and writer with more than two decades of experience editing and writing across a variety of news platforms including newswires, newsletters, magazines and online news sites. Marc has worked for such nationally recognized media organizations as The Kiplinger Washington Editors (publishers of Kiplinger’s Personal Finance magazine), U.S. News & World Report and Dow Jones. Before joining Bankrate, Marc was Senior Editor at CNET Money and Senior Editor of Finance for ZDNet, where he wrote and edited news articles and features on a variety of topics including banking, blockchain, credit cards, cryptocurrency, fintech, home equity, investing and taxes.
Marc has been featured as a personal finance expert in numerous local print, radio and television outlets throughout the country, including in such major markets as New York City, Chicago, San Francisco and Washington, D.C. He received both his BA in radio and television communication and computer science, and his MBA in international business and information systems, from The George Washington University. He’s also a member, and former Board of Governor, of The National Press Club, and a member of SABEW and Treasurer of the Society of Professional Journalists’ SDX Foundation (Washington, D.C. chapter), raising scholarship money for aspiring young journalists.
Outside the realms of journalism and finance in the digital world, Marc enjoys solace in the analog, keeping all things past and present alive and well. A passionate film and music aficionado, Marc can be found around town enjoying live concerts and plays, spinning vinyl, threading reel-to-reel tapes, shooting film with his 16mm Bolex and hosting pub quizzes at the Press Club.
Managing your personal finances need not be an arduous, daunting or even a taboo task. With the right knowledge, financial tools and resources, you can take charge of building your wealth. Just take it step by step.
— Marc Wojno, MBA
Find out which CD term is best for your financial goals in a lower rate environment.
Know the two major benefits of opening a CD now, even as interest rates decline.
ATMs are useful for depositing money, checking your balance, and more, but be aware of possible issues that may arise.
Learn how CD ladders and partial withdrawals can be used to fund emergency savings.
It’s possible to leverage the money in your CDs to grow your emergency savings.
A CFPB lawsuit claims Capital One underpaid savings account interest by $2 billion.
Expect savings and money market account yields to slide lower, but they still should outpace inflation
You can find a CD account that significantly out-earns the national average if you shop around among banks.