During the pandemic I listened to a podcast about the importance of minority-owned banks and decided to put some money in the form of CD in one, with very low interest rates around that time.
When the CD matured a few years later, the bank continued with that low rate even though the interest rates had become significantly higher due to inflation.
This made me realized that banks are banks, and they are not necessarily better for their customers just because they have a different kind of ownership.
So I closed my account in the next CD maturity event.
The online banking system actually didn’t allow me to do that; fortunately their customer service was great and I was able to talked to a very nice (and obviously minority) agent to close the account.
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