The Financial Crisis of 2008/2009 has a lot to do with this. Many of the county’s top banks have paid fines for unbecoming activities associated with the crisis. Since 2009, those fines have totaled $184 billion … over 117 legal cases.
And here’s the kicker, there are 174 cases still outstanding, in the process of being resolved, so we might not have even seen the half of it yet.
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- Not only is the financial infrastructure being disrupted, but finance’s disruptors are now becoming the consumer's hero and far more mainstream than could have been imagined.
- The banking system is more focused on regulators than consumers because of their dirty past deeds, the ones they are dearly paying for right now through penalties and legislation.
- The major banks are routinely under serving people that need student loans, small business loans and mortgage loans. The poor service given to consumers covers the product, prices and service in regards to any dealing with the banks.