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> Banking is a cartel in the US

US has more banks than any other country by a factor of 10.

https://www.helgilibrary.com/charts/what-country-has-the-mos...

And #4 for branches per capita: https://www.theglobaleconomy.com/rankings/bank_branches/

7x as many branches per person as Canada

Sure, those data sources are a bit sus, but I'm sure they're relatively correct. And dunno how credit unions play into it.



You're right. For the argument for the other side, the top four largest banks—JPMorgan Chase, Bank of America, Citigroup, and Wells Fargo—collectively hold approximately 43% of all deposits in the United States, and in some ways they are self regulating or have a revolving door with their regulators. But we certainly have a lot of banks and anyone can buy a small one and give the banking business a shot.




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