Bank Lowers Savings Interest Rates: Household Bank...
From Times Staff and Wire Reports
Bank Lowers Savings Interest Rates: Household Bank in San Diego has notified all former Imperial Federal Savings customers that it will lower the interest rates on certificates of deposit and checking accounts effective Friday. The lower rate on CDs will apply regardless of the maturity. Household Bank, based in Newport Beach, bought Imperial’s 48 branches in Southern California on April 19. The move is a common practice among financial institutions that buy failed savings and loans from the Resolution Trust Corp., officials said.
