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A comment on Why Banks Are Suddenly Closing Down Customer Accounts. Parent comment

Re:Why Banks Are Suddenly Closing Down Customer Accounts by k99x55 on Monday November 06, 2023 @09:54AM (#38163419)
Each country's Fed (Bank of England for UK) should provide a very basic free bank accounts to all residents. That would be the baseline from which all private bank would have to compete with. The cost is minimal (OK maybe charge 5USD a year or something).

I don't see any reason why this hasn't happened except that the Fed has been captured by private banks.

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Re:Why Banks Are Suddenly Closing Down Customer Accounts by etothepii on Monday November 06, 2023 @05:32PM (#38170057)
What would this organisation do if it finds that you are using this account for money laundering / terrorism financing? Is the suggestion that it should have to get a court order to close your account, or that even then it should leave your account open?
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