CBS News, January 16, 2020, Blacks And Latinos Say They Pay Higher Bank Fees — Research Suggests They’re Right
In a recent nationwide survey, black and Hispanic bank customers reported facing higher monthly fees than white customers typically do. A wide body of research suggests they’re right.
Whites reported paying $5 a month in bank fees, which includes overdraft penalties and ATM surcharges, while blacks reported paying $12 a month and Hispanics $16 a month, according to personal finance firm Bankrate. Almost 80% of white bank customers said they face no fees, compared with 59% of Hispanics and 60% of blacks who said so.
