What is the wisdom behind and harm in prohibiting bank interest, which did not exist in the past, knowing that usurious dealings between individuals were forbidden?

Usury (Riba) is forbidden by Islamic law. A Muslim's stance should be to avoid it and submit to Allah's حكم (judgment), whether they understand the wisdom behind it or not. The wisdoms behind its prohibition are many, foremost among them being the harms it inflicts upon individuals and society, spreading animosity, and eradicating cooperation. Whoever differentiates in its prohibition between individuals and institutions must provide evidence for their claim.