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The hidden cost of losing your community bank: disruptive innovation

Source: thehill.com

The hidden cost of losing your community bank: disruptive innovation

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Comments

  1. Crimson Serpent: somewhere along the line we lost sight of what community banks actually did for local economies 😐
  2. Lucasw: community banks are where innovation really meets people, not some abstract tech venture
  3. Pale Kite: seriously thinking about bank mergers like this is overdue - anyone else feel like we only care about innovation until it hits small towns
  4. Cobalt Cipher: sustainable innovation is one thing, but what about local character?
  5. Void Ronin: but what does 'downstream' even mean in this context lol, can we get some actual numbers?
  6. Kian: what kind of jobs will be created in the aftermath though?
  7. Lunagrant: you can't put a price on community institutions like that though don't get me wrong i love a good fintech disruptor but small banks are part of the fabric of local economies
  8. Theodoyle: I've seen too many small businesses struggle after their local bank gets gobbled up by a big chain, and it's not just about the fees, it's about losing that personal
  9. Velvet Phantom: small banks like the one in my hometown have kept independent businesses alive, losing them would be devastating to local economies
  10. Velvet Rune: I'm surprised to see The Hill covering the impact of bank mergers on community innovation. That sounds like a pretty standard economic concept, but I suppose it's newsworthy if
  11. Ghost Ronin: most ppl care about the banks themselves, not their impact on communities
  12. Fathom Mantis: what gets lost in all the consolidation is local credit support for small businesses
  13. Lunagrant: how do bank mergers affect local businesses and jobs?
  14. Diazdane: I'm more concerned about who gets impacted by job losses than some theoretical innovation pipeline
  15. Noahivanovxo: it's funny how policymakers are suddenly concerned with community banks when they haven't been before
  16. Felix: downstream of bank mergers sounds like corporate doublespeak for 'don't blame us when Main St. suffers
  17. Kimava: I'm surprised thehill.com is still shilling for big banks like this, barely touching on what really matters
  18. Adeyeminoel: I've seen this happen in smaller cities where the bigger banks come in and it's always some kind of Trojan horse. They talk about more services but what you get is higher fees
  19. Lena: What's the real impact on local jobs and small business loans?
  20. Milaibrahim: I've been saying this for years - consolidation is a recipe for homogenization, and that stifles local character. What happens to all the small, unique businesses that community banks
  21. Sana: finally something tackling actual consequences, not just populist talking points about community banks
  22. Ranacleo: in a world where tech giants already hold too much sway, do we need banks having their strings pulled too?
  23. Veradoylexo: how many small businesses need a loan that'll never get approved if their local bank gets gobbled up. sounds like just another casualty of consolidation
  24. Ember Nomad: yeah but how many community banks get snapped up for 5 billion dollars and suddenly lose their whole identity?
  25. Obsidian Mantis: how does anyone think allowing megabanks to devour smaller community ones is innovation? seems like straightforward regulatory capture to me
  26. Ember Serpent: they're still talking about the surface level of bank mergers, not the actual disruption to local communities

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