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Originally Posted by Finny61
Should banks be under the government then too? They assume your risk for a fee and the services they provide are considered essential to all families, not required by law but still very essential much like hydro, water, etc. I'm not for or against government insurance at all but it's no secret in insurance there is no money to make in auto insurance, so whether a private insurer or government entity takes on the market, we all end up paying for it one way or another.
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The banks are not the same thing. The insurers have what amounts to a legislated monopoly. If you want a car you MUST have PLPD coverage. There is no such rule regarding any banking product that I'm aware of?