Bank customers often opt for short-term certificates of deposit rather than higher-yielding long-term CDs because they are leery of potentially incurring early-withdrawal fees if they need their funds ...

Matt Richardson is the senior managing editor for the Managing Your Money section for CBSNews.com. He writes and edits content about personal finance ranging from savings to investing to insurance.

Tim Maxwell is a freelance writer who covers investing, real estate, banking, credit education and other personal finance topics. At its July meeting, the Federal Reserve decided to hold interest ...