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Re:Wells Fargo to pay $3.7B settling charges it wrongfully s... by LastTrain on Tuesday December 20, 2022 @03:31PM (#34072080)
If everyone moved their money to credit unions, they'd become just as bad as banks.
Re:Wells Fargo to pay $3.7B settling charges it wrongfully s... by kelseyfrog on Tuesday December 20, 2022 @03:42PM (#34072229)
I don't consider size to be the primary determiner of how banks operate re: good or bad. I consider the ownership model to primarily determine incentives and behavior. They are, of course, are not uncorrelated, but rather when attributing primary cause, I see credit unions incentives aligned with their clientele because they are one and the same. Whereas banks have a larger discrepancy between owners and customers.
Re:Wells Fargo to pay $3.7B settling charges it wrongfully s... by OkayPhysicist on Tuesday December 20, 2022 @04:40PM (#34073005)
A bank exists to serve the interests of their shareholders, a credit union exists to serve the interests of their members. Unless you happen to be a significant shareholder in your bank, credit unions are more aligned with your interests.
Re:Wells Fargo to pay $3.7B settling charges it wrongfully s... by willcipriano on Tuesday December 20, 2022 @08:56PM (#34075756)
All things exist to serve the interests of itself.