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International Finance: Citi’s Fraser warns mobile money is ‘game changer’ for bank runs

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Citigroup CEO Jane Fraser said mobile apps and consumers’ ability to move millions of dollars with a few clicks of a button mark a sea change for how bankers manage and regulators respond to the risk of bank runs.

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They only realised this when it happned, not before? How idiotic is that? This should have been factored into regulation long ago.

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