. Minorities pay over twice as much in bank fees, survey finds « JO LEE MAGAZINE

NBC – People of color are paying more than twice the amount in banking fees than white Americans, a Bankrate survey found. Americans who saw their income negatively impacted by the pandemic also reported higher fees than those who weren’t financially hit.

“There has been very much an exacerbation of wealth and income inequality during this time,” said Bankrate senior economic analyst Mark Hamrick. “More than any other downturn that we are aware of in our history, this has really been a reflection of a have and have-not economy.”

Read more on America’s financial disparities at NBC News.

World on the Run | Jo Lee Magazine

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