Bankification Nation

The U.S. economy is turning into one giant bank.

Starbucks holds nearly $2 billion of customers’ money in its rewards program. That’s more than the total deposits managed by 85 percent of chartered banks, making the coffee chain one of the biggest financial institutions in the country. 

Conversely, Capital One, one of the world’s top banks, now operates its own cafes on city street corners. 

Airlines are now little more than flying banks, given that they make more money from selling frequent flyer points to credit card companies than they do flying passengers. 

More Americans than ever are in debt to their nearby grocery store due to predatory “buy now, pay later” loans offered during checkout. 

As you’re wheeled into an emergency medical procedure, the nurse may ask if you’d prefer to pay on a deferred-payment loan plan, an increasingly common way to finance health care expenses. 

And if you can’t pay your rent on time, it could soon become common for your apartment building owner to lend you the money, putting you in debt to your landlord.