4 ms·

You’re assuming they already have a bank account, but if they don’t they automatically lose $10 a month to evil corporate bank fees. Or you assume they won’t wa

You’re assuming they already have a bank account, but if they don’t they automatically lose $10 a month to evil corporate bank fees. Or you assume they won’t waste the money on hookers and blow if we don’t see what the poors spend it on. Good idea, but both parties would reject it. We’ve been talking about starting a state bank in California. Besides a service like this, it would allow marijuana businesses access to banks, thus preventing crimes around the all-cash business.

bobkazamakis 4y ago
Any organization that's too big to fail should be too big to privatize.
BiteCode_dev 4y ago
In France bank accounts are a basic right and the Banque de France will open one for you if all other banks refuse.
- wahern 4y ago
  Interestingly, it looks like the unbanked population in France is similar to that of the United States, approx. 6-7%: https://www.gfmag.com/global-data/economic-data/worlds-most-unbanked-countries https://www.gfmag.com/global-data/economic-data/worlds-most-... Almost 15 years ago California created a program to offer banking services to the unbanked population, but as of last year it survives in only 3 major cities, SF, LA, and Sacramento, and is mostly defunct. See https://dfpi.ca.gov/wp-content/uploads/sites/337/2022/02/BankOn-California-Report-2021.pdf https://dfpi.ca.gov/wp-content/uploads/sites/337/2022/02/Ban... It turns out that, "Simply providing low-cost banking options does not motivate unbanked populations to get banked. Programs utilizing a community-based, holistic approach have greater success with the unbanked." Which is another way of saying that unbanked populations tend to have bigger issues, beyond nominal costs. Normally I would be tempted to say that one of these issues is awareness of and ease of utilizing the assistance programs, but the situation in France suggests that in this case that may not be one of the top structural impediments.
  - BiteCode_dev 4y ago
    Yes, if it were a program, I would look for another bottleneck :)
Gibbon1 4y ago
Many countries have postal banking. And the US used to have that. There are a number of US government agencies that could handle that.

bobkazamakis 4y ago

Any organization that's too big to fail should be too big to privatize.

BiteCode_dev 4y ago

In France bank accounts are a basic right and the Banque de France will open one for you if all other banks refuse.

wahern 4y ago
Interestingly, it looks like the unbanked population in France is similar to that of the United States, approx. 6-7%: https://www.gfmag.com/global-data/economic-data/worlds-most-unbanked-countries https://www.gfmag.com/global-data/economic-data/worlds-most-... Almost 15 years ago California created a program to offer banking services to the unbanked population, but as of last year it survives in only 3 major cities, SF, LA, and Sacramento, and is mostly defunct. See https://dfpi.ca.gov/wp-content/uploads/sites/337/2022/02/BankOn-California-Report-2021.pdf https://dfpi.ca.gov/wp-content/uploads/sites/337/2022/02/Ban... It turns out that, "Simply providing low-cost banking options does not motivate unbanked populations to get banked. Programs utilizing a community-based, holistic approach have greater success with the unbanked." Which is another way of saying that unbanked populations tend to have bigger issues, beyond nominal costs. Normally I would be tempted to say that one of these issues is awareness of and ease of utilizing the assistance programs, but the situation in France suggests that in this case that may not be one of the top structural impediments.
- BiteCode_dev 4y ago
  Yes, if it were a program, I would look for another bottleneck :)

Gibbon1 4y ago

Many countries have postal banking. And the US used to have that. There are a number of US government agencies that could handle that.