Banking

2 posts
‘Free Banking’ is a Myth.  Why Won’t Banks Admit It?

Remember the days when most banks offered free checking accounts? The next generation probably won’t. To the annoyance of consumers, recent years have seen most leading banks curtail these accounts, or load them down with new restrictions. Nowadays, only 38% of checking accounts at big banks are free – down from 76% in 2009. In the words of one analyst, this amounts to "the steepest decline that I’ve ever seen,...

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China Renounces Socialism? Bank Nationalization Advocates Take Note…

There are few things more infuriating than public bailouts of private banks. That’s why, when banks get into trouble, many people would rather nationalize them entirely than rescue them. (In fact, after the 2008 crash, the U.S. reportedly came close to doing so.) But surprisingly, in India and China - two countries whose financial systems have long been dominated by public banks - the governments are responding to their current...

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