
The American Banking System Is Still in the 1990s - adamnemecek
http://penguindreams.org/blog/the-american-banking-system-is-still-in-the-1990s/
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Powerofmene
Banking is big business and as long as they can prevent competition, whether
through innovation that limits their ability to collect fees or through what
we see as true competitors, our banking systems will not change.

They wield power and exert great influence with our lawmakers and the
government. Until that changes the banks will continue to transact business in
a manner that benefits them the most.

As far as the IRS goes and automated systems for tax reporting/verification
goes etc., we need to do something that allows direct reporting to more
sophisticated systems if no other other reason than to get a better handle on
the fraudulent returns that are submitted every year. Are far as Turbo Tax and
H & R Block goes, a $5 million investment in tax reporting software is nothing
compared to the fees they collect every year from people who utilize their
software for reporting. Of course the icing on the cake are those who use
their early return loan programs. Clearly they have every reason to lobby to
maintain the tax reporting system as it currently functions.

