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The US ‘banking’ system is incredibly regressive. Poor people pay for check cashing, while rich people get free bank accounts and 2% off everything by using fre
by jrmg 5y ago
The US ‘banking’ system is incredibly regressive. Poor people pay for check cashing, while rich people get free bank accounts and 2% off everything by using free ‘rewards’ credit cards.
- NovemberWhiskey 5y agoWhat is that even supposed to mean? Businesses compete for profitable customers. Are banks not supposed to do that?
- moate 5y agoTo many people, the overall system feels to be designed as a whole to extract wealth from the masses and funnel it upwards towards those already capable of funding their continued existence. To those people, the idea that "obtaining the money you are owed from your job costs you a fee" is a gross abuse of the system. Penalizing poor people doesn't seem great.
- Thrymr 5y agoIt can be rational from the perspective of individual businesses and still be "incredibly regressive" and net negative for society.
- burkaman 5y agoThey are supposed to, that's what's causing the problem.