Mr. Fasold is president of American Deposit Corp. of Pine, Colo., which developed the "retirement CD" sold by banks in competition with the insurance industry's annuities. Recently, the Internal Revenue Service proposed a regulation that would disallow tax-deferred build-up in retirement CDs. If the rule is adopted, it could effectively destroy Mr. Fasold's invention.

In a article written for the American Banker, the outspoken Mr. Fasold challenges the banking industry to do more to protect the retirement CD.

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