I_like_cats@lemmy.one to 196@lemmy.blahaj.zone · 11 months agoDeadname rulelemmy.oneimagemessage-square38fedilinkarrow-up1424arrow-down10
arrow-up1424arrow-down1imageDeadname rulelemmy.oneI_like_cats@lemmy.one to 196@lemmy.blahaj.zone · 11 months agomessage-square38fedilink
minus-squaremy_hat_stinkslinkfedilinkarrow-up2·11 months agoIronically enough it’s the opposite. Banks answer to shareholders, building societies answer to its members. Building societies compete with banks, if they’re unheard of in the US that certainly does explain the state of the US banking system.
minus-squareFakeGreekGirl@lemmy.blahaj.zonelinkfedilinkEnglisharrow-up2·11 months agoWe don’t have building societies in the US, but we do have similar institutions called credit unions.
Ironically enough it’s the opposite. Banks answer to shareholders, building societies answer to its members. Building societies compete with banks, if they’re unheard of in the US that certainly does explain the state of the US banking system.
We don’t have building societies in the US, but we do have similar institutions called credit unions.