The general concern is if you remove the overdraft fee as a tool, banks will just require a minimum or cancel you.
If financially struggling families can’t even access basic banking, they are further disenfranchised and removed from a stability, and eventually wealth generation
Sounds like a great time to actually bring back postal banking if the “job creators” can’t handle just making “some money” instead of " lots of money" from these accounts.
I’m sure the post office would be glad to have the “some money.”
Sounds fine. And unfortunately banks are extremely real job creators. The existence of loaned capital to start business, pay employees and so on are a course of business development.
Ultimately, weather you like them or not, you can’t force a business to work with a given customer, especially if that customer is unreliable or requires more work.
I agree the time of government is to look after people with less/no concern for their profitability, especially when basic well-being and stability are in play.
The general concern is if you remove the overdraft fee as a tool, banks will just require a minimum or cancel you.
If financially struggling families can’t even access basic banking, they are further disenfranchised and removed from a stability, and eventually wealth generation
Sounds like a great time to actually bring back postal banking if the “job creators” can’t handle just making “some money” instead of " lots of money" from these accounts.
I’m sure the post office would be glad to have the “some money.”
Sounds fine. And unfortunately banks are extremely real job creators. The existence of loaned capital to start business, pay employees and so on are a course of business development.
Ultimately, weather you like them or not, you can’t force a business to work with a given customer, especially if that customer is unreliable or requires more work.
I agree the time of government is to look after people with less/no concern for their profitability, especially when basic well-being and stability are in play.