summarize the following paragraph in a shorter paragraph
The arguments surrounding the banking system can be summarized as follows: Proponents highlight the importance of a stable banking system for economic stability, providing necessary financial services. Critics express concerns about the system's tendency to encourage risky behavior and moral hazard, where banks expect bailouts using taxpayer money. Limited competition and the concentration of power in big banks are criticized for reducing consumer choice, hindering innovation, and reinforcing risky behavior. There are debates about the appropriate level of banking regulations, with some arguing for more consumer protection while others caution against stifling innovation. The lack of financial inclusion and accessibility is seen as a problem, exacerbating inequality. Finally, the rise of fintech and digital banking presents both opportunities and challenges, offering convenience and cost reduction but raising concerns about cybersecurity and data privacy.