Now that the Fed has raised interest rates a few times shouldn't Ally Bank et.al. start offering higher savings rates than the 1% they've had for years?

I'm sure we are all familiar with the crop of on line high yield savings banks that are out there (Ally is the one I'm most familiar with). You'd think that competition among them would result in a higher yield as borrowing interest rates have gone up (another 0.25% today again). But they are all sitting at pretty much 1% now. I was looking forward to higher rates soon.

Submitted March 15, 2017 at 06:07PM by jayelwin http://ift.tt/2muGJ9Z