Check cashing, as a business, is a poorly understood "alternative" financial service.
Previous issues of Bits about Money
Payroll processors exist to provide financial infrastructure and because political economy is complicated.
A lot of more modern financial infrastructure follows the paths blazed by checks, at least in the U.S.
Jurisdictional gamesmanship is a common strategy for crypto businesses. Here is how it worked out for Binance and its CEO. Spoiler: poorly.
The structural reasons why banks sometimes behave bizarrely in interactions with customers, like forgetting things which customers tell them.
A review of Zeke Faux's Number Go Up, with some bonus commentary on financial journalism and Tether specifically.
Credit card debt is the waste stream of consumer finance. The debt collection industry ends up being sordid, for complex structural and microeconomic reasons.
A brief retrospective on an attractive product First Republic used to offer, and a wider discourse on the banking crisis.
Many observe that banks seem to be blowing up due to predictable consequences of rising interest rates. How did we get here?
In the wake of the recent banking crisis, there is some attention to deposit insurance limits. Some products increase them; here is how.
We may be in the early stages of a banking crisis: why, what we're doing to avoid it, and what we may not get about it.
Card networks are legacy systems. Some bugs have persisted for decades, surprisingly, but they can be fixed. Stripe provides examples.
A brief overview of what money laundering is, what financial institutions do about it, and why.
Bits about Money's Early Adopter discount ends on January 31st, 2023.
Know Your Customer policies at financial institutions have more nuance than you'd expect.
Get essays a bit faster
I write roughly biweekly on the intersection of tech, financial infrastructure, and systems thinking. It's free.