Comment by wbl
1 year ago
There are thousands of banks hungry for your business. Just because one doesn't want to do business with you doesn't mean another one won't.
1 year ago
There are thousands of banks hungry for your business. Just because one doesn't want to do business with you doesn't mean another one won't.
That is not true. All the banks must satisfy the same regulator. None of them are going to take a risk that invites audits from the big cheese to get your 20k in savings. The legal term to avoid here is “unilateral action” - don’t do what the other banks aren’t doing.
The list of problematic people is even shared between them by the regulator.
Due to the savings and loan crisis there is no longer a plurality of banking businesses each with their own independent thinking. There are 10 marketing corporations for the same government service. Same with mortgages.