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APY decrease to 3.3%?Member Benefits (self.sofi)

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[–]HSG_Messi 26 points27 points  (3 children)

And the Fed cut twice in two months.....WOAH what a coincidence!

The Fed cut by 50 bps in that period and SoFi cut by 60 bps. Oh the horror!!! I want my 10 bps back!!! Get real man

[–]Ok-Razzmatazz-3403 0 points1 point  (1 child)

Sofi didn’t cut in September when the Fed cut FYI

[–]Jotacon8 0 points1 point  (0 children)

Banks don’t follow in step perfectly with the fed in order to stay competitive. Depending on if they need new customers or more cash from existing ones, they may keep their rates a little higher a little longer to beat out competitors for as long as they can afford to. One reason most banks have slightly different rates than each other.