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I am still choosing carefully my next bank without a dirty history. The majority had unethical or sinister practices: HSBC & Capital One (money laundering), Cha

by mgh2 5y ago

I am still choosing carefully my next bank without a dirty history. The majority had unethical or sinister practices: HSBC & Capital One (money laundering), Chase (gold & silver spoofing), Goldman Sachs (mortgage crisis), Wells Fargo (fake accounts), Robinhood (sort of a bank, gambling), etc. https://www.youtube.com/watch?v=FSh8eusFYL4&ab_channel=ColdFusion https://www.youtube.com/watch?v=FSh8eusFYL4&ab_channel=ColdF... Charles Schwab seems ok so far. Still researching... feedback welcome.

rkk3 5y ago
not sure why you would solely put the 08' financial crisis on Goldman... Not that that they really offer many consumer services anyway.
sporkland 5y ago
Probably not scandal free, but I was choosing between Fidelity and Schwab for zero fee banking and eventually landed on fidelity after using both. It's been great, refund all atm fees. Easy to use. Also they have FZROX which is a zero fee s&p500 index fund.
silisili 5y ago
Can't help with dirty history, but on paper Schwab is hard to beat. AFAIK Schwab and Betterment are the only two left that do worldwide ATM fee coverage. My only downside with Schwab is the UI on their site. It seems very much geared to the boring investor, moreso than the checking account customer. Maybe some people prefer that, though.
- nhf 5y ago
  Schwab's checking account has always been a loss leader for their brokerage so I imagine it'll stay that way. The mobile app isn't too bad though.
ycombobreaker 5y ago
Money Laundering and Spoofing are wildly different classes of behavior for a bank. Money Laundering is criminal activity in the bank's core function. Spoofing is... a trading activity, hurting other traders, and only related to banking in that "JP Morgan Chase" is a large org that dies many things. I don't mean to be shilling for any single bank here, I just happen to be more familiar with the spoofing than the other cases.
mgh2 5y ago
More reference: https://ecocult.com/trying-find-ethical-sustainable-bank-one-use/ https://ecocult.com/trying-find-ethical-sustainable-bank-one...

by mgh2 5y ago

rkk3 5y ago

not sure why you would solely put the 08' financial crisis on Goldman... Not that that they really offer many consumer services anyway.

sporkland 5y ago

Probably not scandal free, but I was choosing between Fidelity and Schwab for zero fee banking and eventually landed on fidelity after using both. It's been great, refund all atm fees. Easy to use. Also they have FZROX which is a zero fee s&p500 index fund.

silisili 5y ago

Can't help with dirty history, but on paper Schwab is hard to beat. AFAIK Schwab and Betterment are the only two left that do worldwide ATM fee coverage. My only downside with Schwab is the UI on their site. It seems very much geared to the boring investor, moreso than the checking account customer. Maybe some people prefer that, though.

nhf 5y ago
Schwab's checking account has always been a loss leader for their brokerage so I imagine it'll stay that way. The mobile app isn't too bad though.

ycombobreaker 5y ago

Money Laundering and Spoofing are wildly different classes of behavior for a bank. Money Laundering is criminal activity in the bank's core function. Spoofing is... a trading activity, hurting other traders, and only related to banking in that "JP Morgan Chase" is a large org that dies many things. I don't mean to be shilling for any single bank here, I just happen to be more familiar with the spoofing than the other cases.

mgh2 5y ago

More reference: https://ecocult.com/trying-find-ethical-sustainable-bank-one-use/ https://ecocult.com/trying-find-ethical-sustainable-bank-one...