Certificates of Deposit Lawyers

Authored by , LegalMatch Law Library Managing Editor and Attorney at Law

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Certificates of Deposit (CDs) are somewhat similar to normal savings accounts. A customer can put money into an account, have interest accrue on that money, and then withdraw the money for the customer's own personal use. However, CDs function differently than savings accounts in a couple ways:

Banks are not the only ones who offer CDs now. Brokerages and individual sales people offer CDs with interest rates meant to compete with banks and any other financial institutions that offer CDs. So remember, you are not just limited to your local bank when looking for a CD.

What Should I Be Aware of When I Am Shopping around for a CD?

Like any investment, you should not just dive into a CD without knowing anything about it. There are few items of information you should request from the bank or broker who is issuing the CD:

Who Should I Refer to if I Have Any Questions or Concerns about Taxes, Broker Fraud, or Any Other Subjects Concerned with CDs?

If you have a question about the tax consequences of your CD or have been the victim of fraud that was perpetrated by your supposed "broker," you may want to consult a securities law attorney. Your lawyer will be able to answer any legal questions you have. If you are having legal troubles such as being defrauded, your attorney can help you decide on what course of action to take to remedy your problem in the best way possible.

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Last Modified: 11-28-2011 04:13 PM PST

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