Business and Finance
Business and Finance
Wed, December 11, 2024
[ 03:00 AM ] - United States, Business Line
[ 02:40 AM ] - United States, Shields Gazette
[ 02:40 AM ] - United States, Business Today
[ 01:40 AM ] - United States, Business Times
[ 12:40 AM ] - United States, Business Line
Tue, December 10, 2024
[ 11:21 PM ] - United States, MSN
[ 11:21 PM ] - United States, WTOP News
[ 11:20 PM ] - United States, Yahoo Finance
[ 11:20 PM ] - United States, Business Today
[ 11:01 PM ] - United States, Couriermail
[ 11:00 PM ] - United States, Couriermail
[ 09:41 PM ] - United States, Insider Monkey
[ 09:40 PM ] - United States, Forbes
[ 09:40 PM ] - United States, Digital information world
[ 08:20 PM ] - United States, MSN
[ 06:40 PM ] - United States, MSN
[ 05:40 PM ] - United States, Yahoo
[ 05:20 PM ] - United States, Yahoo Finance
[ 04:00 PM ] - United States, Seeking Alpha
Debanking hurts everyone. It's time to end it once and for all
- Yes, as in any industry, there are bad actors. But choosing to shape crypto banking policy purely through the lens of these actors is akin to debanking the asset management industry over Bernie Madoff, or debanking energy companies because of Enron.
The article from AOL Finance discusses the issue of "debanking," where banks terminate the accounts of individuals or businesses without clear justification, often due to perceived risk or regulatory pressure. It highlights how this practice disproportionately affects marginalized groups, small businesses, and those in the sex work industry, who find themselves suddenly unable to access basic financial services. The piece argues that debanking not only infringes on personal freedoms but also hampers economic growth by limiting access to capital for entrepreneurs. It calls for regulatory reforms to ensure transparency and fairness in banking practices, suggesting that banks should provide clear reasons for account closures and offer a reasonable timeframe for customers to find alternative banking solutions. The article emphasizes the need for a more inclusive financial system that supports all members of society, not just those deemed low-risk by financial institutions.
Read the Full AOL Article at:
[ https://www.aol.com/finance/debanking-hurts-everyone-time-end-170146393.html ]
Read the Full AOL Article at:
[ https://www.aol.com/finance/debanking-hurts-everyone-time-end-170146393.html ]
Contributing Sources