bank rates

Highest CD Rates Roundup For Feb. 15

Bringing you the very best CD rates from credit unions and local banks.We never got our pound of flesh from those responsible — at least in part — for the recession and all the crummy stuff that came as a result: joblessness, taxpayer bailouts, massive equity loss and, oh yes, years and years of terrible savings and CD rates.

We probably won’t get that revenge … er, justice.

But it’s nice to see at least one politician still in search of accountability.

If you missed U.S. Sen. Elizabeth Warren’s first hearing this week as a member of the Banking, Housing and Urban Affairs Committee, you missed quite a show.

Banking regulators awkwardly danced around this question from Warren: When was the last time you took a big Wall Street bank to trial?

The answer is never, at least not since the economy crashed.

The government regulators defended their enforcement records, claiming the accountability tool of choice is the fine. But that’s hardly something to make the pin-striped set nervous.

Instead, Warren seemed to argue, the only way to change the banks’ behavior is to make an example of one.

“There are district attorneys and United States attorneys out there every day squeezing ordinary citizens on sometimes very thin grounds and taking them to trial in order to make an example, as they put it,” Warren said. “I’m really concerned that ‘too big to fail’ has become ‘too big for trial.’ ”

On to CD rates.

This week, we saw a pretty big shakeup on our CD Rates Leaderboard, with huge rate increases in the 24- and 36-month terms and a cut in the 60-month term.

The top nationally available 3- and 5-year bank certificates of deposit now pay the same rate: 1.85% APY.

Since our list of the highest CD rates at credit unions and local banks only includes deals that beat the best nationally available bank deals, the changes to the Leaderboard prompted changes to the local bank and credit union list as well.

We removed five nationally available credit union deals and about two dozen local deals that no longer beat the Leaderboard.

We’re happy to report there weren’t any other significant rate changes. We didn’t add any new deals to the list this week, but we have several lined up already for next week.

You’ll find all the top-paying deals clearly marked on our highest CD rates page, showing where they are available, with a quick link back to the original post, which includes more information on the institution and its requirements.

We’ll update this page weekly, so you’ll always know what great deals are out there from credit unions and local banks.

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