Low fees and high interest rates are allowing VC-funded "neo-banks" like Chime, Aspiration, Empower, and Varo to compete with the big consumer banks in the US (Nathaniel Popper/New York Times)

Nathaniel Popper / New York Times:
Low fees and high interest rates are allowing VC-funded “neo-banks” like Chime, Aspiration, Empower, and Varo to compete with the big consumer banks in the US  —  SAN FRANCISCO — After the financial crisis 10 years ago, unhappy customers were expected to flee the megabanks for smaller competitors.



from Techmeme http://www.techmeme.com/181126/p3#a181126p3