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Seeing like a Bank

bitsaboutmoney.com · 5,256 words · saved by 1 readers

The structural reasons why banks sometimes behave bizarrely in interactions with customers, like forgetting things which customers tell them.

Seeing like a Bank Patrick McKenzie (patio11) • Nov 7th, 2023 The New York Times recently ran a piece on a purported sudden spate of banks closing customer accounts. Little of it is surprising if you have read previous issues of Bits about Money. The reported anecdotal user experiences have a common theme to them. Banks frequently present to their users as notably disorganized, discombobulated institutions. This is an alarming and surprising fact for the parts of society that are supposed to accurately keep track of all of the money. Why does this happen? Why does it happen across issues

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