Can credit union and coop banks replace traditional banks completely?

Edit (adding additional question): Has there been an attempt to do this on a national or societal level?

  • Tarogar@feddit.de
    0·
    5 months ago

    Real scenario: you wouldn’t see that happen.

    Hypothetically it could cause economic collapse because now there wouldn’t be money to back up all the loans that are outstanding. Followed by mass layoffs of people and all the other fun stuff that comes with it.