With state-endorsed Frb the bank can claim that to retain the customer deposits was never part of the contract, due to the deposit insurance. It is true, however, that we are not given back the same note which was deposited in the first place. When a bank relends the money other people get the advantage of it, often without our permission.
Banks should not be given permission to relend customer’s deposits.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment