3min chapter

Complex Systems with Patrick McKenzie (patio11) cover image

True Crime, banking edition

Complex Systems with Patrick McKenzie (patio11)

CHAPTER

The Financial System's Role in Communication and Responsibility

This chapter examines how the financial system conveys challenging news to consumers, particularly around credit denials, while diffusing responsibility. It also discusses the critical roles of KYC and AML regulations, addressing common misconceptions and their implications for the perception of banks in the economy.

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