Explaining Southern California's economy

It's a bank! It's an app! It's a bank AND an app!

GoBank. There's no actual bank. The whole thing lives inside an iPhone.

A show of hands, please: Who hates their bank? 

OK, OK! You can put your hands down now. In response to your pain over fees and account minimums and various other picky little money-grubbing charges, Green Dot, a Pasadena-based company that made it big in prepaid debit cards, has created a no-frills, low-cost banking service that's optimized to run on mobile devices.

It's called GoBank, and it's designed to run on the iPhone and Android devices. In fact, the entire banking experiencing is centralized on small screens and makes use of a smartphone's camera to manage deposits. You can email money to people. And text money. And — yes — Facebook money. 

You also get, along with FDIC insurance, a Visa debit card and an embedded "Fortune Teller" that will tweak you when you're spending too much.