30 Patreon alt-tech alternative New Project 2 was shut down due to being put on a global blacklist by Mastercard (archive.ph) posted 2 years ago by Darkchaos 2 years ago by Darkchaos +30 / -0 42 comments share 42 comments share save hide report block hide replies
Because clearing isn't a loan.
Think of it as a "push". The other bank can only refuse if they don't believe that the transaction was authorized by their depositor.
It is a depositor telling their bank "take my money and sent it to here".
They can only say no if they believe their depositor didn't actually authorize it, or didn't have the money to do it.
I think you missed my point here.
What stops your customers being refused loans from other banks because they're with you?
Oh.
Greed, and the threat of CFPB action, and exposure to anti-trust action as well.