Should the profits from banks be returned to the community? should any profits the banks make be going ...?
Into individuals pockets?we all have to use banks these days so shouldnt the pofits return to the users?
Answer
Technically speaking, some of the profits are returned to the community. american banks are required by the fdic to follow the community reinvestment act, which basically means that individual banks, or branches, are required to meet the needs of the local consumers and businesses, so that the whole community flourishes. it also requires that banks do their share to help local non-profit organizations.
