Banks’ depositors are called customers. Customers have no ownership interest in the institution. Banks are owned by investors who may or may not be depositors.
Banks are owned and controlled by stockholders, whose number of votes depend upon number of shares owned. Customers don’t have voting rights, cannot be elected to the board, and have no say in how their bank is operated. Directors are selected by current directors or by large block stock acquisition.
Banks are for-profit corporations, with declared earnings paid to stockholders only.
Competition between banks prohibits a sharing of resources.
The Savings & Loan bailout in 1980s, as well as the more recent bank bailouts, used millions of taxpayer dollars.
Beth is a freelance writer and editor living in the Rocky Mountain West. So far, Beth has lived in or near three major U.S. mountain ranges, and is passionate about protecting the important ecosystems they represent. Follow Beth on Twitter as @ecosphericblog or check out her blog. less