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#israel #palestine : #war / #gaza / #banks / #economy

„U.S. has issued a warning over the crisis-hit territory, where Israel is weighing cutting off Palestinian banks.“

https://www.wsj.com/articles/the-west-bank-is-on-the-edge-of-economic-collapse-e713f523


"The CFPB economists used a very conservative methodology, so the number is likely higher, but let's stick with that figure for now. The switching costs of changing banks – determining which bank has the best deal for you, then transfering over your account histories, cards, payees, and automated bill payments – are costing everyday Americans more than half a billion dollars, every year.

Now, the CFPB wasn't gathering this data just to make you mad. They wanted to do something about all this money – to find a way to lower switching costs, and, in so doing, transfer all that money from bank shareholders and executives to the American public.

And that's just what they did. A newly finalized Personal Financial Data Rights rule will allow you to authorize third parties – other banks, comparison shopping sites, brokers, anyone who offers you a better deal, or help you find one – to request your account data from your bank. Your bank will be required to provide that data.

I loved this rule when they first proposed it:"

https://pluralistic.net/2024/11/01/bankshot/#personal-financial-data-rights

#SwitchingCosts #USA #Banking #Banks #FinancialData #Interoperability #OpenData


#usa #israel #palestine : #war / #gaza / #westbank / #banks / #economy

„Israel's decision for a month's waiver extension on co-operation between Israeli & Palestinian banks covered a "very short term" & would create "another looming crisis" by Nov. 30, the United States warned on Thursday.
The remarks came after a spokesman for Israeli Finance Minister B. Smotrich said he would sign the waiver to extend banks' co-operation for another month after the cabinet agreed.“

https://www.straitstimes.com/world/middle-east/us-urges-israel-to-extend-waiver-on-co-operation-with-palestinian-banks