The US has weird banking regulations dating back to the depression that lead to ... | Hacker News

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		dboreham on Oct 14, 2021 \| parent \| context \| favorite \| on: An unprecedented wave of online bank fraud is hitt... The US has weird banking regulations dating back to the depression that lead to this situation. I'm sure banks in the US would love to close everything and consolidate into 2-3 megabanks like in the UK.

tblt on Oct 14, 2021 [–]

> consolidate into 2-3 megabanks like in the UK

The UK has greater industry competition in the form of challenger banks than the US

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