You might salvage this train of though by dumping the examples and reconsidering the premise. That is, let’s hear about an actual “regulation” that interferes with release of a new, useful, not screwing-up-the-world invention. And we can consider how to fix that.
You have no idea what you’re talking about here. I’m sorry you just don’t. I literally meet weekly with the one person in the world who started 5 of the last 7 banks in the US, and they aren’t being started anymore because of regulation. Google it.
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I Googled “how to start a bank in the US” and they all say i need $20M in capital and I also know i need a computer, and an internal auditor in a windowless room (they always are, poor guys). How can it be possible to still run a bank and not possible to start one?
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Are you trying to be intentionally dense and obtuse? Try googling “why aren’t banks being started in the US” or “rate of bank creation in US over time.” You are trying to defend a point without having any idea what the hell you’re talking about, which speaks volumes
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The rate of bank creation will answer nothing about “why”. I did google and just answered you with the articles I found: banking generates less profit now than ever, so it’s not attractive AND there is more regulation so it’s more annoying.
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So banks magically became less profitable in 2008 for no reason having to do with Dodd-Frank or regulations at all? That’s the position you’re taking given your 30 seconds of research?
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No actually I’ve spent in aggregate maybe 6 months full-time reading up about banking between 2005ish and again recently, thinking about this banking-for-the-unbanked problem. and 30 seconds just now. i figured we could overlay on an existing small bank.
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You spent six months full-time and didn’t know about Dodd Frank or why there aren’t new banking charters?
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my long project was pre-2010 and the post-2010 work was focused on the customers, not the bank.. again, i was thinking less about creating a bank for a low-margin market (sounds messy) and more about re-skinning an existing bank for a specialty market, if that market even existed
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i think http://even.com is walking that fine line. the “problem” of market entry for that demographic, as you know, is as much about education about a new way of handling money, as it is about access to a physical branch. It needs both. Also it’s big.
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