I’ve been using Patriot Bank for a few years. They recently dropped down to 5.05% from 5.16% but so far are holding steady at 5.05%.
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Treasury Direct in T-Bills. CA-tax-free.
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Fidelity taxable account or CMA, with funds in Treasury funds. The funds are free of state taxes for most states.
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Same here. Float in Fidelity CMA, emergency fund in self-renewing 4 weeks T-bills.
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Newtek Bank Savings was 4.90% now 4.70%
Total Bank MM was 4.86% now 4.67%
Brio Direct Savings was 4.85% now 4.75%
MyBankingDirect Savings was 4.65% now 4.55%
Prime Alliance Bank Savings was 4.50% now 4.15%
SalemFiveDirect Savings was 4.25% now 4.01%
Webull Cash Management was 4.00% now 3.75%
Paramount Bank Checking was 2.50% now 2.25%
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Pi Bank Savings was 5.00% now 4.75%
Poppy Bank Savings was 4.75% now 4.50%
Northern Bank Direct MM was 4.75% now 4.50%
Vio Bank Money Market Savings was 4.66% now 4.56%
Valley Direct Savings was 4.55% now 3.75%
Western Alliance Bank Savings was 4.46% now 4.40%
CommunityWide FCU Monthly Savings was 4.25% now 4.00%
Betterment Cash Reserve was 4.25% now 4.00%
Wealthfront Cash was 4.25% now 4.00%
iGoBanking Index MM was 4.12% now 3.90%
Bank Purely Index MM was 4.12% now 3.90%
E-Trade by Morgan Stanley Private Bank was 4.10% now 4.00%
Self Help CU MM was 2.64% now 2.43%
CommunityWide FCU Savings was 1.25% now 1.00%
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CFPB is suing Capital One for freezing the rate on the old 360 Savings account after introducing the Performance Savings (mentioned upthread) and not telling existing account holders about this:
https://apnews.com/article/capital-one-sued-360-savings-cfpb-1e902f1eb5aabef8297640b0d5579a25
At the time I thought it was a shady bait-and-switch -like move, but didn’t think it was illegal. Emigrant Bank had pulled stuff like this by creating an online subsidiary, then slowly lowering or freezing rates, then creating another online subsidiary with a top rate (Emigrant Direct, DollarSavingsDirect, etc).
I also didn’t keep any money at CapOne because I actually follow rates. Most people don’t pay attention, and that’s their own fault.
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Not the same thing but tangentially related:
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Not clear why they selected these. Iirc Schwab pays 0.25% unless you transfer the money to a money market fund.
ETrade/MorganStanley is at 0.01%?
I agree. Savings accounts are not CDs. It’s understood that rates are not guaranteed in any way.
But the marketing may be the issue here. They advertized that it was top/best rate, then quietly froze or lowered the rates. That may have even been fine until they created an identical competing product with a better rate. That new account type seems hard to justify and looks only designed to save cost of securing deposits by exploiting customers inertia. Not sure if that’s really illegal but it’s at bare minimum it’s highly unethical.
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Yep. I think this makes it unfair and deceptive, which is illegal under CFPA.
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well if you want to complain act quickly
FDIC gone? really do we want depression era protections removed?
The big banks should be fine without FDIC but no way the smaller regional bank would survive. At the smallest hint or rumor of liquidity issues, you’d have instant runs on the banks like at SVB, promptly ensuring the bank’s bankruptcy.
But we haven’t seen a concrete proposal to shut either down so I’ll wait and see. Shutting either down would be inconsequential for making a dent in a $1.8T annual deficit though so I’m not sure why these would be first week items to tackle honestly.
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that’s why I posted here since most of the deals here are the small banks. They leverage FDIC.
DJT doesn’t care about the small fish. We might just end up with the biggest co.s that pay tribute
Won’t this actually make the deficit worse, since both of these are more than self-funded? FDIC is funded by the member banks, and CFPB actually generates way more money than it spends by suing and fining financial institutions that break the law.
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Don’t let facts get in the way of a good story 
GOP is a buyer beware party, and pro “business” so regulators be damned
That’s not the same as paying for itself. The FDIC itself has operating costs which I have not seen evidence of them being paid by the premiums. If these operating costs were covered by the premiums paid by insured banks (that’d be how a third party insurance company would operate), why is the FDIC a $3B expense in the 2024 budget?
I agree on CFPB. Maybe it could operate at lower costs, I don’t know. But overall it has returned money (through fines and enforcing compensation schemes for defrauded customers) to taxpayers above and beyond its budget. I think it’s very unlikely scrapping it would be a net positive for consumers and it’d have an insignificant impact of budget deficits.
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Isn’t the CFPB technically part of the Federal Reserve? I believe the CFPB gets their style of pension rather than what most government agencies have.
Interesting that OCC and NCUA wouldn’t be targeted.