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>Bank runs like from the movie "Its a wonderful life" - they don't happen anymore.

I've witnessed and been (indirectly) affected by a bank run in the last decade[0].

0. https://en.wikipedia.org/wiki/Seizure_of_Bulgaria%27s_Corpba...

In US FDIC, which insures bank accounts upto USD 250K, has basically obfuscated Good Bank vs Bad Bank quality check for the retail customer.

The Fed Reserve and Treasury and FinGov apparatus does some 'stress tests' but mostly a dog and pony show.

Banking in US is mostly element of convenience than quality. No one ran from Wells Fargo accounts (at least retail users) to say Bank Of America because Wells Fargo is fined for basically fraud.

In short term its a good thing, in long term.. well it is prone to blow up, I hope that is not in my life time.

I know several people who closed their Wells accounts (and moved to other retail banks in the US who are just as shitty) when that whole high-level fraud thing at Wells came out (they were opening checking accounts for people without their knowledge and consent, yeah?).

I dropped WF for a credit union as soon as I became aware of their corruption, deception, and mistreatment of their customers. NCUA provides similar if not identical coverage, and with the CU, the entire institution feels less user-hostile.

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