Postal banking could be an option, but otherwise, the federal government seems to not want to deal with the customer service involved in running a banking operation.
It would probably be more reasonable to make some sort of tightly regulated basic bank account that banks would be required to offer in some situations.
Nobody would be happy, but hold all deposits for a long period, so that they fully clear. Possibly restrict the sources of funds; maybe a basic bank account can only accept payroll and government deposits, maybe a limit of N unique payers per unit time. Etc. Social security and state benefit programs have specialized accounts for people without other bank accounts, because it works better than sending checks in the mail, maybe one of those programs could be slightly more generalized.
Allow a bank to refuse to service an otherwise qualifying basic banking customer only if the bank goes through a court process and/or is accompanied by actual criminal charges filed.
>>>It would probably be more reasonable to make some sort of tightly regulated basic bank account that banks would be required to offer in some situations.
Yeah, I'd be ok with this. Require banks to provide some MVP 'bank account' to anyone that isn't already declared banking-persona-non-grata by the courts.
It would probably be more reasonable to make some sort of tightly regulated basic bank account that banks would be required to offer in some situations.
Nobody would be happy, but hold all deposits for a long period, so that they fully clear. Possibly restrict the sources of funds; maybe a basic bank account can only accept payroll and government deposits, maybe a limit of N unique payers per unit time. Etc. Social security and state benefit programs have specialized accounts for people without other bank accounts, because it works better than sending checks in the mail, maybe one of those programs could be slightly more generalized.
Allow a bank to refuse to service an otherwise qualifying basic banking customer only if the bank goes through a court process and/or is accompanied by actual criminal charges filed.