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36 sats \ 1 reply \ @0xbitcoiner 8h \ on: The noose is tightening security
That's what I call going completely overboard (In Portuguese we say, to be more Catholic than the Pope). If this isn't a state or federal mandate, then why even have a policy like this? I don't think it's a good thing for the bank, but I also don't think it's a huge problem.
If this isn't a state or federal mandate, then why even have a policy like this?
Trust breakdown, too many exploits depositing bad checks then drafting before it's had time to return
Historically there were holds on deposits, but returns still cost the bank in aggregate given the factoring... This probably simplifies fee generation elsewhere
Banks are rational actors in an irrational system
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