[634636346]

There are still almost 5k banks in the US. Unlike Zelle, if this opens to all of them, all you need is one bank.

[mattwilsonn888]

One low quality bank?

Bank gets bailed out? That's a dire sign for the fundamental value of the dollar to regular people if this is a regular practice.

Bank gets bought up? Well we don't really have 5k banks anymore do we?

[astrange]

> Bank gets bailed out? That's a dire sign for the fundamental value of the dollar to regular people if this is a regular practice.

"Our insurance system works" is not a bad sign for your financial system.

[evantbyrne]

I presume the system uses bank account and routing numbers? So besides concerns with sharing that information with the public, concerned citizens will figure out who they bank with, and will most likely be able to easily pressure the bank to drop them.

Certain things should be difficult to accomplish in a functional society anyways, and administering a profitable hate group is one of those things. If not bankrupted by their lack of credit card access, they'll eventually run into legal troubles from the damage they cause to innocent people.

[cempaka]

> they'll eventually run into legal troubles from the damage they cause to innocent people

Which is how this sort of thing ought to be handled, in stark contrast to "Chrystia Freeland sends an email to the heads of major banks to get troublemakers debanked with zero transparency or due process."

[docmars]

>concerned citizens will figure out who they bank with, and will most likely be able to easily pressure the bank to drop them

This should be difficult to accomplish in a functional society.

[1000bestlives]

Nobody on KF is innocent. You talk like someone who has a thread about them

[subsistence234]

they're not a "hate group," they're a "collecting embarrassing info on creeps" group. of course the creeps aren't happy about that, and frame it as "hate."

[salawat]

I'm sure British loyalists circa 1776 would have agreed with you.