WASHINGTON -- Comptroller of the Currency Eugene A. Ludwig defended the nascent Retirement CD this week against congressional criticism.

The tax-deferred, insured certificate of deposit "falls within the range of powers authorized for national banks and may be offered as a deposit product," Mr. Ludwig informed a powerful House committee chairman.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.