I worked for a few financial institutions, and interacted with banks, and frankly, you CAN do better, and you can both find malice and stupidity, and they can d

I worked for a few financial institutions, and interacted with banks, and frankly, you CAN do better, and you can both find malice and stupidity, and they can do that because they're protected by regulation. There are some startups here in Uruguay that have gone against banks and were winning (one started by a classmate that used to work for a financial institution), and they of course are getting hammered with regulatory oversight (some needed, some not). I'm frankly surprised they let them go as far as they did, they were true entrepreneurs, I wouldn't have started them, not because I didn't think they were needed or succeeded, but because of the risk.