this post was submitted on 08 Aug 2023
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Banks hit with $549 million in fines for use of Signal, WhatsApp to evade regulators’ reach (www.cnbc.com)
submitted 1 year ago by L4s@lemmy.world to c/technology@lemmy.world
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Banks hit with $549 million in fines for use of Signal, WhatsApp to evade regulators’ reach::Wells Fargo, a relatively small player on Wall Street, racked up the most fines Tuesday, with a total of $200 million in penalties.

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[–] demonquark@lemmy.ml 4 points 1 year ago (1 children)

Fines as a percentage of revenue. A big percentage. That’ll stop this nonsense.

[–] overzeetop@lemmy.world 3 points 1 year ago (1 children)

Revocation of corporate status. A corporation is a status set out in US law. No corporate status, no legal protection for officers or shareholders. All liability falls personally and directly on the owners.

[–] SwingingTheLamp@midwest.social 3 points 1 year ago* (last edited 1 year ago)

Yeah, seriously, why do people forget this so easily? THE GOVERNMENT GRANTS SPECIAL PRIVILEGES TO CORPORATIONS. Any stipulations, limitations, or exceptions are absolutely fair game. Ideally, we grant corporate charters to promote commerce and benefit society. Nobody has a right to a corporate charter, so if a corporation is harming us, we should terminate it like the pregnancy of a Republican's mistress.