Replying to Avatar mike

If you’re a bank you can use customer funds for your own purposes, you don’t need to keep any of your customers money or make it available to them other than in small amounts.

If you make huge losses, you don’t go bankrupt, the government bails both your bank and your customers out.

Without a banking license, the above will cause bankruptcy and is illegal and amoral.

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NostrNaught 1y ago

You know how the word "bank" is "regulated" and supposedly can't be used in business name filings unless you got a banking licence?

So, I'm wondering how food banks get to use the word...

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mike 1y ago

Good point 😂

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