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In the case of banks I think they have proven conclusively that they do need laws for everything and extensive oversight to ensure they are complying with those
by zxcvbn4038 7y ago
In the case of banks I think they have proven conclusively that they do need laws for everything and extensive oversight to ensure they are complying with those laws. They are always looking for loopholes and just the right wording to put their interests in front of yours. At least in the US, maybe banks are better behaved in the rest of the world. In the US we have three federal agencies and countless state agencies all dedicated to keeping the banks in line and they all stay busy.
- jeffdavis 7y agoAs the article says, banks are trying to get out of this business. They are probably just there to avoid angering customers who already have one, and to appeal to the nostalgic sense of a bank being a physical thing. Not sure what regulation will really accomplish other than giving them an excuse to exit the business faster.