Simple Notes On Discussion Topics From 11/30 Meeting Of Alt. Banking Group Sub-Group

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The main idea:

 

- Institution(s) so great in it’s impact that it could replace current banking system.

 

      Next Step for institution(s):

Mission:

Objective:

Services:

Membership:

 

Question/Concerns:

- Doesn’t or can it address regulatory and legal issues.

- Geared towards retail, not merchant banking. Does it provide capital to small businesses?

- Where is the educational/empowerment component.

- Can it / isn’t addressing merchant needs?

- Why aren’t credit unions working?

- One answer: Loans are limited to businesses.

- Not well marketed / accessible.

- What will the opposition say?

- What are the non-bank account products / markets that we should be paying attention to — especially when it comes to the working poor.

-Are we addressing predatory lending? (reiterated multiple times)

- note on grameen bank

- how to change the world (book)

- Local / National / Transnational?

- Replicability vs. institutional expansion.

- We’re competing w/ an international banking system — does that mean we have to be an international bank.

- issues with credit cards

- issues with atm fees and that being a reason people don’t switch banks over

 

Potential things to add/consider:

- Something for businesses, espeically small businesses.

- Something for people to invest their retirements in.

- Democratic process that approximates concensus.

 

Broader Ideas:

- Allow credit unions to compete with commercial banks?

- Should we feel restrained by regulatory rules? Can we figure out ways to get around them?

- Rolling effect vs. exploding effect (Richard, maybe you can elaborate on this — I’ve forgotten some)

- Open to everyone

- Innovative enough to get people to vote with their checkbook

- Replicability

- alternative currencies

- town in maine

- many models

- some said: not just an alternative currency, but an alternative environment that provides people opportunities

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