From Yahoo Finance: 2025-05-26 11:01:00

Ramit Sethi warns against hidden bank fees and how banks make billions but still charge maintenance fees. Banks entice with high interest rates, but they drop after a few months. Overdraft fees are called a “scam,” wiping out interest. Black and Latino borrowers face higher mortgage rates, and minority-owned businesses are more likely to be denied loans due to bias. Sethi advises to keep emergency savings in high-yield online banks and invest in low-cost index funds. Switching to a better bank is recommended for better financial health.



Read more at Yahoo Finance: 4 Ways Your Bank Is Hurting Your Wallet