That's the argument he's making. Checking is only free because it's being paid f... | Hacker News

Hacker Newsnew | past | comments | ask | show | jobs | submit

		Plasmoid on Oct 29, 2021 \| parent \| context \| favorite \| on: Financial innovations brought by technology That's the argument he's making. Checking is only free because it's being paid for by people who who run up fees, and these people tend to be poor. It would be more fair for everyone to pay the same for a service, but banks decided it was "better" to get 10% of the population to pay for it.

clairity on Oct 29, 2021 [–]

no, fees are pure profit in most cases. loans made with deposits more than pays for operating costs of checking accounts. banks that say different are fibbing.

Guidelines | FAQ | Lists | API | Security | Legal | Apply to YC | Contact