ShoreBank

When a bank fails and the FDIC arranges for another bank to take over, depositors often lose out. All of their insured deposits are safe, but if they have CDs, rates have often been cut. Depositors ar ...

From the Wall Street Journal Leading Wall Street banks have led an effort to rescue ShoreBank in recent days. The participants include Goldman Sachs Group Inc., as well as Citigroup Inc., J.P. Morgan Chase & Co., Bank of America Corp., and Morgan Stan

Update 1/14/10: Rates have fallen. New rates are 1.09% APY for under $100K and 1.25% APY for $100K+. Note how close these are to the FDIC rate caps.ShoreBank Direct recently sent letters to its customers informing them of a new tiered rate structure for...

ShoreBank Direct has just done something that has been rare this year for banks. It increased the rate of its online savings account. The rate increased from 2.05% to 2.15% APY. There have been a few other rate increases this year at other banks, but in...