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Isn't "do not fuck with my money" basically the default in the consumer banking space? I've not seen a flicker of SJW stuff form any bank or credit union (unti
by advisedwang 4y ago
Isn't "do not fuck with my money" basically the default in the consumer banking space? I've not seen a flicker of SJW stuff form any bank or credit union (until maybe you choose yourself to invest in ESG). "good app, and reasonable loan rates" is kind of what banks already compete on
- wmf 4y agoThere were stories about consumer banks dropping people simply for using crypto so risk modeling is definitely happening and it does vary from bank to bank. I haven't heard enough such stories to justify an "anti-woke" bank though.
- advisedwang 4y agoI assume in any cases like that banks are dropping customers because of regulatory risk (KYC or whatever), so there's not much of an alternative? "We are playing fast and loose with regulation" is not reassuring to most people that are looking for safe and secure finance (ie "don't fuck with my money")
- wmf 4y agoRegulatory risk is a spectrum and banks can definitely decide where they want to be on that spectrum.
- llanowarelves 4y agoIt's usually the layer above that has issues: PayPal. Who even some of the "wokest" on here have had the same issues with.
- hakfoo 4y agoThat could be the "long con" version of this. A bank that says "we'll continue to lend and invest in unfashionable clients (i. e. fossil fuels and defense contractors) even when others won't" is an actual business strategy which can be evaluated. However, I suspect they never got further than the marketing sound bite.