The mishmash of systems and the 50+ years of rules is not something to be proud of, it's a cancer that speaks of incompetence and regulatory capture. Neither t

The mishmash of systems and the 50+ years of rules is not something to be proud of, it's a cancer that speaks of incompetence and regulatory capture. Neither the government nor the banks can compete with tech startups in, well, tech, so they do so with overwrought legislation, nonsense rules, horribly outdated and absurd security practices, and more. God, everything about the banking industry in the US is such shit. From a complete misunderstanding of the very fundamentals of security to forming a sort of moat with regulation to the government's incompetent inability to actually push FedNow to completion and adoption. It's just a shameful, massive clusterfuck that describes everything wrong with the government's and the banks' approach to technology.