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Banks Reined In by the Government

Posted by: RateAPY Bank Rates News
January 21st, 2010

According to top reporters at the Wall Street Journal, new policy may limit banks in size and market share. New steps by the government may restrict the type of trading that banks can do with deposits. Many critics of the policy think that the government may not be helping to create jobs with this move, but many supporters are glad to see banks better regulated.

Although the new policy restricts what banks can do with deposits, most analysts believe that the pain in the economy was caused by bad home loans. Banks have already been working toward better regulations on home loans for many months.

The best defense for your personal finances in a tough economy may be to keep as much money as you can manage in savings accounts, money market accounts, or certificates of deposit. These types of investments offer a good interest rate while keeping your money fairly liquid for emergencies. Follow these links to find the most competitive rates on savings accounts, money market accounts, or certificates of deposit.