banks are essentially middleman in the checking account business.It’s a commodity, put your money somewhere get a debit card, get online access, get checks. Transactions are all processed through centralized federal reserve systems. The FDIC guarantees balances. Take out the middleman maybe take out a layer of costs consumers are paying and simplify consumers lives. Any branch of any bank for example could accept a deposit from anyone with a fed account. How this would impact lending and other banks services would need to be determined.

And I know you know this but her description of her idea as radical does not mean what Dan and some other posters want it to mean.