alt Hacker NewsBanks don’t really eat the loss, instead they ensure all their services have enough of a markup to cover the cost of fraud.
All consumers collectively pay for all the fraud, it’s just that we don’t tend to realize it as it’s not a specific line item on any of our bills, instead we all pay just a little more than we should for everything we buy.
yes, obviously all of the bank's money comes from consumers. what other scenario do you see where a bank(etc) "eats the loss" but the money somehow comes from somewhere else