(37)Synchrony Bank (formerly a part of General Electric) is a mostly Internet-based financial operation that among other things offers attractive rates on savings such as CDs.As I write this question, Synchrony was offering .8% on a one-year CD, while most local banks were offering one-year CDs in the .3% range.Both Synchrony's CDs and those of local banks are insured by the FDIC.How can Synchrony profitably offer such elevated rates?How can local banks profitably not do so? Explain.