Beal Bank
Slashed CD and Savings Rates on takeover of Umbrella Bank.com Internet
Beal Bank took over UmbrellaBank and New South Federal on December 18. They immediately cut the interest rates on savings to 0.060%. I had a 5 year CD at an interest rate of 5.41%. Although bank are allowed to cut rates in a takeover, most do not to maintain customer goodwill. When I asked them why ...