Why Banks Are Suddenly Closing Down Customer Accounts

Re:Why Banks Are Suddenly Closing Down Customer Accounts by hwillis on Sunday November 05, 2023 @08:32PM (#38157765)

banking does sometimes require actual money still, much more so if you're poorer. What's another institution that has offices everywhere, ships things every day, and privately and securely stores things for huge numbers of customers? Remember, DMVs/RMVs are state-level.

Hell, they're even surprisingly used to keeping large amounts of valuable paper safe. It wasn't that long ago that you could make a lot of money stealing stamp sheets.

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Re:Why Banks Are Suddenly Closing Down Customer Accounts by eru on Sunday November 05, 2023 @11:16PM (#38158786)

> What's another institution that has offices everywhere, ships things every day, [...]

Walmart or 7-11 or so? Jokes aside, giving banking licenses to retailers might be a sensible thing to do. (Or removing the whole system of banks requiring licenses altogether would be even better.)

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Re:Why Banks Are Suddenly Closing Down Customer Accounts by landemva on Monday November 06, 2023 @02:23AM (#38159736)

Walmart does have banking.

https://www.consumerreports.org/banks/is-banking-at-walmart-...

"At its more than 4,600 in-store MoneyCenters, as well as online, millions of customers have access to basic, low-cost banking services, including the ability to withdraw cash, make deposits, and pay bills."

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Re:Why Banks Are Suddenly Closing Down Customer Accounts by eru on Monday November 06, 2023 @08:05PM (#38171710)

Thanks. The last I heard of it was that the banks were still lobbying against giving Walmart the license.

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