1. Saturday, January 1, 2011 - 2:41 AM
Danversbank dropped it's APY from 4% to 3% in October. In early November, Ken wrote a review entitled "Cambridge Savings Bank Enhances Its High-Yield Reward Checking Account - MA Only". I'm sure a lot of MA residents like 51hh moved their money into Cambridge for the 4%. And then on Jan 1, Cambridge drops its APY .75%.
What we'll never know is whether Cambridge would have dropped its rates anyway, or if the increase in clients who found out about the bank's making it easier to qualify for the 4% rate after reading Ken's article allowed them to drop their rate because they had attracted all the new customers they wanted.
What we'll never know is whether Cambridge would have dropped its rates anyway, or if the increase in clients who found out about the bank's making it easier to qualify for the 4% rate after reading Ken's article allowed them to drop their rate because they had attracted all the new customers they wanted.
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