I don't buy the conspiracy theory angle. Central banks are not beholden to consumer banks. The Fed is much more concerned about preventing a depression than catering to the business model of JPMorgan Chase, for example.

I think the pandemic exposed serious deficiencies within the banking system and also bureaucracies like unemployment agencies. CBDCs could be very useful there in terms of cash infusions, possibly preventing much of the economic shock we saw in March-April.

The banks do have powerful lobbyists though. I could see them opposing this on a fundamental level. We'll see whether Congress is in their pocket or not. The Fed and others in favor of CBDCs do have some influence, and legislators also have an interest in the potential benefits for economic stability.