Since flat-fee banking might already mean something to different people, here's where my definition comes from: if we treat a bank like any other business, then it provides a service (namely, safe guarding your money), and like any business must charge a fee to cover costs and produce a profit. This fee is what I'm referring to as the "flat-fee", in referenced opposition to the standard interest-based banking.
So the question is, if money were no object to some company, and said company wanted to lend their own profit like a bank would and charge a flat fee for the service in place of charging interest, is there any legislation or otherwise some obstacle that would stand against this?
So the question is, if money were no object to some company, and said company wanted to lend their own profit like a bank would and charge a flat fee for the service in place of charging interest, is there any legislation or otherwise some obstacle that would stand against this?