The US's personal banking industry is like 20 years behind the rest of the developed world
People say Canada is a half-generation behind the US in banking innovation, which is generally in Canada's best interest. They've never had a banking crisis.
Not sure why, probably because the banks have all the money to lobby to keep things the same.
This response is worse than wrong, it's assuming bad intentions.
For personal accounts, banks are responsible for your money, even if the hackerz keylog your password and log on as you and steal your money. US banks already have all the incentive in the world to drive down fraud on personal accounts, and yet they seem to have decided it's not worth the time and money to clamp down on it.
Most likely it's because there are always other ways of fighting fraud. The US banking system is full of reversible transactions. From the outside, it sure seems the best use of limited resources is to choke the irreversible endpoints.
> The US's personal banking industry is like 20 years behind the rest of the developed world
>> People say Canada is a half-generation behind the US in banking innovation, which is generally in Canada's best interest. They've never had a banking crisis.
The financial crises in the US have all been caused by investment banking, innovations in retail banking are unlikely to ever cause a financial crisis.
People say Canada is a half-generation behind the US in banking innovation, which is generally in Canada's best interest. They've never had a banking crisis.
Not sure why, probably because the banks have all the money to lobby to keep things the same.
This response is worse than wrong, it's assuming bad intentions.
For personal accounts, banks are responsible for your money, even if the hackerz keylog your password and log on as you and steal your money. US banks already have all the incentive in the world to drive down fraud on personal accounts, and yet they seem to have decided it's not worth the time and money to clamp down on it.
Most likely it's because there are always other ways of fighting fraud. The US banking system is full of reversible transactions. From the outside, it sure seems the best use of limited resources is to choke the irreversible endpoints.