So in Germany, a couple of years ago, there was a court ruling that banks couldn’t decline poor people, especially homeless people, from opening a bank account in their houses. This kind of service was supposed to be called “Basiskonto”, translated something like “base-level bank account”.

I haven’t heard about it for a while, however today I came across this piece of news:

https://www.gmx.net/magazine/panorama/arme-nutzer-hohe-gebuehren-bgh-urteilt-basiskonto-34837686

Apparently, banks were charging like 10€ per month for their “Basiskonten”, which a new court ruling deemed unjustified, as the target group obviously had a hard time affording it.

In a nutshell: Receive a bail-out once a decade and only care about maximising shareholder value.

In the current system, banks are naturally incentivised to act socially irresponsible I guess.

This system is due to be taken down.

Just thought I’d share. Good day to everybody!



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