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Retail banking might have been a nice earner, but their high-street operations are small and dreadful.
Although being less reliant on banking might be good for the U.K. in principle, the adjustment would be brutal.
Third, crowdfunding and microfinance platforms give entrepreneurs, small businesses and individuals access to funds where traditional banking might not.
He argues that free banking might be encouraging mis-selling of financial products because of the "unclear picture" of the price of banking.
But whatever the regulatory category, the sort of competition that a firm as large and well-run as Wal-Mart would bring to consumer banking might be just what bloated incumbents such as Citigroup desperately need.
It has steadfastly refused to examine or encourage real diversity of banking provision to the long-suffering taxpayer, and is uninterested in any idea that banking might be a social utility rather than a get-rich-quick club for those at the top.
Similar(50)
Some banks might go under.
Lesser banks might not fare so well.
Certain big banks might even be downgraded.
European banks might suffer a fatal loss of confidence.
Mr. Papandreou said that some banks might be partially nationalized.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com