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Everyone Wants Interest on Their Deposits. That’s Bad for Main Street Banks. - WSJ

The Fed’s hikes and the failures of a trio of midsize banks are prompting once-loyal customers to pull their money out of checking accounts that pay no interest.

Low interest checking accounts are the credit card of deposit accounts. The bank will pay you 0.1% on your deposits, then turn around and loan you money for a car at 6%.

And customers don’t like that… go figure.

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