from Balaji | by Balaji

It’s a tacit admission that all the onerous regulation somehow results in no real consumer protection. Anarcho-tyranny, but for banks. t.co/I8nuJWe6sT

Due to compliance overhead it’s a pain to open a corporate bank account, more painful to manage a bank, and almost impossible to start a bank. Yet all of that paperwork resulted in a system where a boring business checking account could simply vanish overnight.