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Last week, President Obama signed a law that includes provisions that extend the $250,000 FDIC & NCUA deposit insurance limit to December 31, 2013.

Tennessee Commerce Bank is offering a competitive savings account paying 2.30% APY. It's also offering a some top cd rates.

Everbank raised the promo rate on its yield pledge money market account from 2.55% to 3.01%. This reverses the trend of six months of rate cuts and may be another sign that we are reaching the bottom in savings and money market rates.

Review of Delta Community Credit Union

I just got 2.5% on a money market from the Citibank branch on Boylston Street in Boston. I don't know if the rate is national but here are a few things I learned in the process.

The spread, or difference between the average savings and money market rate and the average 3 year CD rate has been increasing since January. Is this a sign of an improving economy or just a signal that short term deposit rates are horrendously low and going lower?

Capital One is offering $50 to open an online savings account, money market, or CD. The account currently pays 2.01% APY on balances above $10,000. That's somewhat competitive according to the BestCashCow rate tables.

Millions of investors have parked their cash in brokerage sweep accounts. In most cases, this is a bad idea.

Over the last couple of days, many of the top savings rates have dropped. The downward trend in savings rates continues.

While the headlines discuss the problems with the nation's biggest banks, many small community banks are doing great. Low borrowing costs and lack of competition from the big boys is helping the community bank grow quickly.

The big news this week was the drop today in DollarSavingsDirect's savings rate from 4% APY to 3.5% APY. DollarSavings represented the last 4% APY savings rate and its drop, along with several other banks brought the average rate on savings accounts from the BestCashCow rate table down below 3% APY.