General Discussion

..where regulation is up to the criminals that run it.

And it is not just that they need to find a place to safely put their cash; they need loans to buy cars and houses, etc.

If we thought payday lenders were bad, just imagine what these cartel-run "banks" will be like.

Of course, that is assuming that the Federal Reserve and the OCC work out a way to keep foreign banks from letting these non-U.S. citizens just open accounts in their banks and have access to the resources and protections they need there. Otherwise it just means U.S.-based banks losing out on a lot of deposits and loans. I assume they will try hard to stop that avenue from being available.

Crypto could be a significant player in this as well with companies that do not follow the KYC requirement or DEXs filling the void for people that have been de-banked. You could see an Uber-style disruptor coming in to create an avenue for U.S. citizens to allow those without status to use their crypto accounts as well--for a hefty fee of course.

Chaos and confusion--they seem to thrive on causing it....