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Discover Bank announced today that it will allow penalty-free early withdrawals from 12-month certificates of deposit for new and renewing account holders who lose their jobs.

Meridian Bank Texas is offering a Gridiron CD where the rate increases if either TCU or UNT win a football game or a bowl game. It's one of the most original or wackiest CD promotions I've ever seen. Here's how it works.

Analyst Martin Weiss, who sounded an early warning bell on Bear Stearns and Lehman Bros, says that it is invevitable that California will default on its municipal bond obligations.

Actually I don't think tax exempt municipal bonds will go the day of the dodo, but the success of the Build America Bond program is making many wonder if the tax exempt muni market is going to shrink significantly in the future.

The Republican Congressman wants to hang Ben Bernanke out to dry because he believes that the Fed Chief forced BoA Chairman Ken Lewis to go through with a bad deal.

The Securities and Exchange Commission has proposed a series of rulings that it says will reduce the change of losses for money market fund investors. The problem is that these rulings will also reduce the attractiveness of money market funds.

iGOBanking has just launched a new money market savings account. I checked their website and it has the same rate as their traditional savings account.

The idea that Twitter is somehow a central factor in the uprising in Iran shows how far the US media has fallen.

The Senate today passed a spending bill that included a provision for the cash for clunkers program. The program will provide up to $4,500 for individuals who trade in their old, gas guzzling cars.

Wainwright Bank is offering a $200 EE Savings Bond with the opening of a Value Checking account with Direct Deposit.

Irwin Union Bank is offering either a Sharp 22-inch HDTV LCD TV or a Flip MinoHD Mini-Camcorder for opening a personal 11-month CD with a minimum deposit of $20,000.

Caving in to the American Banker's Association, the FDIC has stipulated that the amount of loan debt it provides Ally Bank will be dependent on the deposit rates it offers. We've already seen Ally Bank lower its rates once after the ABA letter and I suspect we'll see more reductions in the future.

ING Direct of offering a $25 cash bonus when you open an Orange Savings Account.

Short term CD rates are falling as the Federal Reserve holds the overnight Fed Funds rate close to zero.