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No one is disrupting banks – at least not the big ones

At least not the big ones

Then the Federal Reserve hiked the interest rates, so one could just park deposits in treasuries and still offer an attractive yield to depositors. SoFi and LendingClub started offering high-yield savings accounts to make people move their money from the incumbents who paid nothing. Even more exciting was Cash App teaming up with Wells Fargo (and Wise with Chase) to offer high-yield savings accounts to their customers.

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