Comment on YSK De-banking is often how the US first declares you "homeless"

• jacksilver@lemmy.world ⁨19⁩ ⁨hours⁩ ago

  I didn’t know that existed!

  Its decline reads like everything else going on in the US. Government provided a service a lot of people liked, private enterprise lobbies to have it shut down and lock people into nickel and diming them.

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  • ViatorOmnium@piefed.social ⁨12⁩ ⁨hours⁩ ago

    In terms of private banks, a basic savings account wouldn't really be a big risk for them nowadays because it's a bare bones account. It doesn't include things like access to credit cards or other forms of credits, or any form of long term investments.

    If anything, banks might even like the idea, because it gives them a way to offload their riskier (and let's be honest less profitable) customers without making society fully collapse.

    If the system is implemented properly it's a win-win for everyone.

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    • jacksilver@lemmy.world ⁨12⁩ ⁨hours⁩ ago

      I wish that was the case, but there are a lot of people that see government provided services as waste/fraud. I mean look at how the federal government is being eviscerated right now.

      It would be nice if everyone could be guaranteed a safe place to manage money though.

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