Which is already a big improvement over the situation in America.
Being cut from the savings/investment/loan system would certainly suck and be unfair if you did nothing wrong, but much less than losing your basic bank account. That's where you receive/cash your pay, tax refunds, any government benefits, write checks (for things that are still paid that way by default), make transfers, etc.
That's true, and it's certainly better than nothing, but engaging in some legal business activity is also one of the basic personal freedoms in the Western value system, one that is trampled on very badly by the recent rise of draconian banking regulations. For businesses, the banking situation in the EU is actually worse than the US right now. It depends on the country, but in some places small businesses basically have to go begging around, hoping that some bank will take on the "compliance risk" of opening an account for them.
I disagree. Bank accounts aren’t the solution; regulating the end use cases (ie businesses that don’t accept cash) is a much better option for society.
