Will More Banks Fail in 2010?

Bank failures have been an unfortunate fallout of the current economic situation - 2009 saw even more banks fall.

Check out the video interview below with FDIC head Sheila Bair. She addresses the issue and what some of us can expect as the current year unfolds.

Shopping for a CD: Be Informed, Be Safe

With many investments in the stock market or real estate declining in value, certificates of deposit (CDs) remain some of the safest and most reliable places for your money. But as with most financial products and services, it pays to do some research and take other precautions before you buy. Check out this video from the FDIC:



You can get great CD Rates from FDIC banks at MoneyAisle.com.

Move Your Money?

A new movement that's gaining online popularity is Move Your Money. Move Your Money urges customers of large banks to move their business (and money) to smaller community banks.

"The response has been dramatic," Huffington Post creator Arianna Huffington told ABC News. "Over half of the zip codes in the country have already been searched for a local bank, and people are really eager to move beyond anger and frustration into action."

One woman, Stephanie Frost, created a youtube video of the big moment:



What do you think? Do you plan on moving your money? One way to find community banks is by using the MoneyAisle network of over 100 community banks, all willing to give you great rates on deposit accounts. Check it out.

Will Interest Rates Rise in 2010?

Short answer: Not bloody likely.

Long answer: As this article explains, part of the Fed's plan for rescuing the failing banks is keeping interest rates down, giving them low loan rates on our deposits. Unfair? Sure, but most of the bailout could be described that way.

The practical answer: if you're looking for amazing returns on your CDs or savings, you're going to need to keep waiting. You can still get good rates using online tools such as MoneyAisle, but we're a ways off from seeing interest rates rise in 2010. Hopefully we can reassess as we get further into 2010.

What do you think?