> banks do provide essential services for a fee. ... What they do isn't always rent-seeking.

Mob bosses own legitimate businesses. They're still crooks.

edit: Just FYI: I am not anti-bank. I am anti "capture 1/3 of all economic profits". No economy can survive that sort of parasitic activity in the long term, regardless of the intention behind it.

> but banks do provide essential services for a fee.

They charge you for not having enough money in your checking account, while using your money to give out loans and make money off of that. Basically charging you for being poor while making money off of your by fee and loaning your money to other people.

I'm old enough to remember they never charge a fee for not having enough money in the bank account. I left my bank for a credit union.

Also Well Fargo was caught recently in a dubious sketchy scheme.

Please note these activities are unrelated to high frequency trading.

HFT isn't essential services.

NYC seems to disagree (at least some market makers are currently considered essential businesses).

Not all banks do that

Most do. Interest rates are how those that have take from those that don't legally. Banks are just the executors of the idea.

It's a very complex systematic problem. I'm not saying burn all banks let's move to the jungle and eat coconuts.

I mean not all banks have minimum balances or any fees at all on checking accounts. Not sure what you mean by interest rates. If I have a savings account I'm getting paid interest. If I take a loan I'm paying interest in exchange for access to the capital. What exactly is the issue here?