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Published 1 year ago

Small businesses weigh banking options amid bank turmoil

Summary by My Mother Lode
NEW YORK (AP) — Sarah Walker, owner of Nuance Interior Design Showroom in Bellevue, Washington, thought she had her banking arrangements fairly well protected. She kept deposits at Wells Fargo and a brokerage account at Fidelity under the federal insurance cap of $250,000. But after the recent banking turmoil, she moved about 5% of her total savings into Certificate of Deposits, or CDs, at Barclays. They offer 5% interest rates on deposits, much…

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