One of the highest 1-year CD rates available right now: Forbright Banks 12-month CD. 

Forbright Bank: 1-year CD offers 5.20%  

Forbright Bank, formerly known as Congressional Bank, is a Maryland-based bank that offers community banking, lending, and business banking products with an eye toward supporting sustainable businesses and clean energy projects. 

For customers who want to visit a physical branch location, Forbright has a handful of branches across Maryland and Virginia. Currently, Forbrights 1-year CD is offering one of the highest APYs on the market. 

Minimum opening deposit: $1,000

APY: 5.20%

Early withdrawal penalty: 3 months worth of interest 

Once your CD matures, it will automatically renew (at the current rate) unless you withdraw the funds from your account at maturity or within the 10-day grace period after that date. Forbright also offers a range of other CD terms, including a 24-month CD, 36-month CD, and a 60-month CD. 

Why a CD could be a worthwhile investment 

A certificate of deposit (CD) is just one of many different types of savings vehicles you can use to hit your savings goals. The benefit of a CD is that, unlike other deposit accounts like a high-yield savings account or money market account, CDs offer fixed APYs. In todays environment, its hard to predict what the Fed will do next and how rates will change over time. Locking in a fixed rate on your CD will give you peace of mind, knowing that no matter how rates change, your money will continue to grow. 

On the flipside, if rates continue to rise, tying all of your savings up in a CD could mean missing out on higher rates in the future. However, there are ways to hedge against this. 

CD laddering is one strategy you can use to take advantage of the high APYs available on the market today without locking all of your money up for the long haul. 

A CD ladder involves opening multiple CDs with varying term lengths. Say you have $5,000 in your savings and want to put that money into a CD. Rather than putting the entire $5,000 into one CD, youd spread that money out into different CDs: 

• $1,000 into a 1-year CD 
• $1,000 into a 2-year CD 
• $1,000 into a 3-year CD 
• $1,000 into a 4-year CD 
• $1,000 into a 5-year CD 

Opening up a handful of CDs means that youll regain access to a portion of that money sooner and youll be able to use it to cover expenses or savings goals, while the rest of your money continues to earn interest. Or, if you still dont need to tap into your savings when your first CD matures, you could roll it over into a higher APY CD depending on how rates have changed. 

The takeaway 

A 1-year CD is one of the shortest terms offered by most banks and credit unions. And, if youve never had a CD, it can give you a taste of what its like to lock your money away for a set amount of time. An added benefit: shorter term CDs are paying off for many savers, with some accounts boasting APYs that are well over 5% as financial institutions react to Fed rate hikes. If youre looking for a lucrative, short-term savings strategy, a 1-year CD could make sense for you. 

Earlier this month, JPMorgan senior leaders asked hybrid workers to continue coming in three days a week at minimum and managing directors to start coming in full-time. Workers would still have flexibility to work from home for things like family issues or doctors appointments, but it seemed there was an or else implied for those who wouldnt comply.

The memo, which Fortune reviewed, said that failure to come into headquarters when required would result in appropriate performance management steps, which could include corrective action. 

Many JPMorgan workers up and down the totem pole, including managers, didnt take fondly to it. They pushed back on what they called a tone deaf and divisive order on the companys messaging platform, Reuters reported in an exclusive published Thursday. 

They vented about being stuck in a Zoom culture, in which in-person staffers are yanked into virtual meetings and conference calls. They also, per Reuters, expounded upon the logistical difficulties of balancing commuting with other responsibilities. 

Most people on my team (and even other teams around me) live pretty far from the office, one commenter wrote. Being stuck in traffic more often and paying even more for gas (prices are rising) is not good for myself and many others.

Less than a day after the committee shared the memo and scores of workers reacted, comments were reportedly turned off. JPMorgan declined to comment to Fortune, but Dimon said in an earnings call this month he understands his workers concernsbut stands by his stance. He sent the memo, titled The importance of being together, because, some people werent following the rules. 

We dont want to punish everybody because of that, but people agreed to do three days a week; we expect three days a week, Dimon said, adding that he gets why people dont want to do it. But in his mind, those people can not do it elsewhere.

Dimons words bear striking similarity to those of fellow pro-office stalwart Elon Musk. In a leaked memo to his staff at Tesla last spring, the bombastic billionaire said remote work is no longer acceptable. Sowing doubt of remote workers commitment and productivity, he then tweeted that remote workers should pretend to work somewhere else.

What Dimon says, goes

Despite pushback from his worker, Dimon is often the rock that redirects the course of the river on Wall Street.

As the chief executive of the nations largest lender, his word tends to create a ripple effect among his peersand detractors. That holds true on financial matters as well as cultural ones. You cant miss Dimon. His annual shareholder letter is an industry event, and he was the one to rush to First Republics rescue after its stumbled during the implosion of Silicon Valley Bank.

Because Dimon, who has helmed JPMorgan for nearly two decades, cuts such an influential figure in Wall Street culture, his beliefs and mandates about the future of work will likely set the tone for New Yorks entire banking landscape; he has shepherded JPMorgan from triumph to triumph while many of his peers have struggledor been wiped out.

Among the major U.S. employers, leaders in the banking industry have been bullish on their pro-office stance. Dimon, alongside Goldman Sachs CEO David Solomon and Morgan Stanley CEO James Gorman, has been outspoken about the values of in-office collaborationand the drawbacks of working from home. (For his part, Solomon called remote work an aberration; Gorman thinks the discussion should not include workers at all.)

Back-to-work mandates might be futile

This isnt JPMorgans first go-around. Dimon initially called workers back to their desks about two years ago, but backed down when scores of staff failed to show up. Not for lack of trying. Im about to cancel all my Zoom meetings, Dimon said in May 2021. Im done with it. He added that remote work, on the whole, doesnt work for people who want to hustle.

He said at the time that he expected a return to workplace normalcy in the fall of 2021. And everyone is going to be happy with it, he added. And yes people dont like commuting, but so what.

The office is vital for fostering spontaneous discussions, Dimon insisted earlier this month. This has been his party line for some time; at Davos in January, he said remote work doesnt work for young kids (meaning new employees), or spontaneity, or management.

Workers on the inside fear Dimons turn of phrase for managing directors is just the tip of the iceberg, and soon workers at all levels will be folded into the five-days-per-week edict.

There is a growing concern that.they may informally start asking the juniors to be in there as well, one employee told Reuters. That might be enough for them to leave the high-paying company altogether; for most American workers, flexibility in a role is more important than pay. 

One day after new CEO David Risher laid off more than 1,000 employees, or about 26% of its corporate workforce, he told remaining workers they must head back to the office. The one-two punch may help the ride-sharing company avoid the problem of employees not taking such mandates seriously. 

Just a year ago, Lyft announced it was now a fully flexible workplace, boasting on its blog that employees would have the choice of where to live and where to work. They could work from the office, at home, or any combination of the two, it added.

No longer. Risher, who assumed the helm on April 17, will require workers to come in Mondays, Wednesdays, and Thursdays, with Tuesdays recommended, beginning after Labor Day, he told the New York Times, adding that he saw the moment as an opportunity to have a cultural reset.

In February, Lyft announced projected earnings that fell well short of estimates, leading to the biggest single-day drop of its stock price in the companys history. Compared to its rival Uber, it has struggled to reach pre-pandemic levels of ridership among its users. 

At some point, I dont think of this as just an Uber battle, Risher told MarketWatch in late March. Its a battle against staying at home. How do we get people out? How do we get them playing and working together?

He was referring to customers, but it seems he wants employees staying home less and working together more, as well. 

Many remote workers, however, believe working from home is just fine and are not eager to return to pre-pandemic office and commuting routines. In a Pew Research survey published last month, 56% of respondents said working from home helps them get work done and meet deadlines, while 37% said it neither helps nor hurts.

Risher isnt the only boss taking aim at remote work. With the pandemic in the rearview mirror, many CEOs have been demanding that remote employees spend more time in the office, among them Bob Iger at Disney, Robert Thomson at News Corp., and Howard Schultz at Starbucks.

One CEO, James Clarke of the digital marketing firm Clearlink, worried aloud to staff that some remote employees might be secretly also working for other companies, and that others could be freeing up time with A.I. tools that the company wasnt fully utilizing. 

Meanwhile Sam Zell, a real estate magnate known for his colorful language, called remote work a bunch of bullshit at a luncheon in New York last week, adding, Young people need to develop their skills, and you cant develop those skills if youre not in the office.

Simpson, then 30, showed up without a football or a jersey, and Warhol had to scramble to find a ball. That Polaroid shoot led to 11 silkscreen portraits; one of them is now going on auction for the first time.

Signed by both men, the portrait is billed by the auction house as a work that brings together two of the most recognizable names of the 20th century and captures a trajectory of celebrity and tragedy.

Warhol certainly could never have imagined how differently the image would come to be viewed, nor the controversy that still lingers around its subject today, said Robert Manley, co-head of 20th century and contemporary art at the Phillips auction house, which is auctioning the work May 16.

It was almost two decades after Warhols photo shoot, in 1995, that Simpson  who had retired from the NFL in 1979 and pursued an acting career  was acquitted of the double slayings of his ex-wife, Nicole Brown Simpson, and her friend Ronald Goldman. He was later found liable for the deaths by a California civil court jury that ordered him to pay $33.5 million to victims families.

In a separate case more than a decade later, Simpson was convicted by a jury in Las Vegas for leading five men, including two with guns, in a 2007 confrontation with two sports collectibles dealers in a cramped room at an off-strip Las Vegas casino hotel. Simpson served nine years in a Nevada prison for armed robbery. He was discharged from parole in December 2021.

Manley noted that five decades after Warhol made it, the portrait still evokes a strong reaction.

Those who view the image of Simpson staring directly down the camera are likely to recall the other notorious picture of the celebrity his mugshot, Manley said. Juxtaposing these two images, created at such different points in Simpsons life, shows a fascinating trajectory of celebrity and tragedy.

Commissioned as part of the broader Athletes series that included Muhammad Ali, soccer star Pelé, tennis star Chris Evert, golfs Jack Nicklaus and figure skater Dorothy Hamill, among others, by Warhol friend and collector Richard Weisman, this particular portrait spent 19 years at the Pro Football Hall of Fame in Canton, Ohio, where it was donated in 1992 and, according to a spokesperson there, never displayed.

In 2011, it was deaccessioned or permanently removed from the collection and sold to an anonymous collector in a private sale through Christies, with proceeds going to fund preservation of other items in the halls collection, said hall spokesperson Rich Desrosiers. Phillips estimates the portrait will sell in the $300,000 to $500,000 range. As with any of the athletes in the series, Simpson would not have existing rights to proceeds, the auction house said.

The highest price achieved at auction for one of Warhols Simpson portraits was $687,000, sold in 2019.

Warhol photographed Simpson in Buffalo on Oct. 19, 1977. According to the auction catalog, a quote from Warhols diary that day reads, He had a five-day beard and I thought the pictures would be awful. Warhol died in 1987 at age 58.

The work will be on public display May 6-15 in New York before being auctioned.