1 hr 8 min
Answering Listener Questions About Bank of America's Payday Loan Thing + Chase Fake Gives $29B More Than BofA to End Racism! The Notorious Banker
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- Business
After a very popular podcast and Twitter posts I did last week in regards to the Bank of America announcement that they will be offering small loans to help customers bridge the gaps between checks (aka Payday Loans), I received over 100 DMs, emails and social media engagements. Most of them were in agreement with me, but some understandably questioned my dissent to this product.
To my longtime listeners Seth in Atlanta, Kerri in Arvada, CO, and Lance in Corvalis OR, thanks for the feedback. I answered their questions they posed to me in this podcast. I talk about my reasons again for not liking the loan, and what should be something they should offer instead. This story will not die!
Plus, I talk about a story I neglected to mention about a bank we never have enough time to talk about. Chase committed $30 Billion over 5 years to "Advance Racial Equity", which sounds very familiar to BofA's way of announcing their $1 Billion donation. Of course, I believe that most of the money in this commitment will never touch a customer's hand directly. Almost half of the $30B will be lent to fund construction of low income rentals.. So it will be used to keep POC in the same situation they are already in? (Makes confused Scooby-Doo sound)
In this segment, I talk about how lending for home ownership is inflated by a flat number: $200k
I talk more about the rental thing.
I also discuss how they are going to "help" 1 million low income customers get low-cost bank accounts, when they very easily could give free accounts. It's all so ridiculous.
But honestly, shout out to Chase for at least throwing themselves under the bus in statements to sell that they mean business a little harder as they did on Juneteenth!
MY PATREON Page! For as little as $1, you can help James in his fight against big banks. http://patreon.com/NotoriousBanker
NotoriousBanker.com for detailed info on yours truly, and ways you can follow The Notorious Banker
The Notorious Banker is on TikTok - @NotoriousBanker
Youtube Channel - Click Here
Sponsors -james@NotoriousBanker.com - Advertise your business with a growing, cutting edge podcast.
Visit our Twitter Page @BankBetterGuy - Bank Advice, humor, observations, deals and VIGILANTE CUSTOMER SERVICE & Host James B on Twitter @jamesbisright
Voicemail Line: 575-322-4127 (3M Max)
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Support this podcast: https://podcasters.spotify.com/pod/show/thenotoriousbanker/support
After a very popular podcast and Twitter posts I did last week in regards to the Bank of America announcement that they will be offering small loans to help customers bridge the gaps between checks (aka Payday Loans), I received over 100 DMs, emails and social media engagements. Most of them were in agreement with me, but some understandably questioned my dissent to this product.
To my longtime listeners Seth in Atlanta, Kerri in Arvada, CO, and Lance in Corvalis OR, thanks for the feedback. I answered their questions they posed to me in this podcast. I talk about my reasons again for not liking the loan, and what should be something they should offer instead. This story will not die!
Plus, I talk about a story I neglected to mention about a bank we never have enough time to talk about. Chase committed $30 Billion over 5 years to "Advance Racial Equity", which sounds very familiar to BofA's way of announcing their $1 Billion donation. Of course, I believe that most of the money in this commitment will never touch a customer's hand directly. Almost half of the $30B will be lent to fund construction of low income rentals.. So it will be used to keep POC in the same situation they are already in? (Makes confused Scooby-Doo sound)
In this segment, I talk about how lending for home ownership is inflated by a flat number: $200k
I talk more about the rental thing.
I also discuss how they are going to "help" 1 million low income customers get low-cost bank accounts, when they very easily could give free accounts. It's all so ridiculous.
But honestly, shout out to Chase for at least throwing themselves under the bus in statements to sell that they mean business a little harder as they did on Juneteenth!
MY PATREON Page! For as little as $1, you can help James in his fight against big banks. http://patreon.com/NotoriousBanker
NotoriousBanker.com for detailed info on yours truly, and ways you can follow The Notorious Banker
The Notorious Banker is on TikTok - @NotoriousBanker
Youtube Channel - Click Here
Sponsors -james@NotoriousBanker.com - Advertise your business with a growing, cutting edge podcast.
Visit our Twitter Page @BankBetterGuy - Bank Advice, humor, observations, deals and VIGILANTE CUSTOMER SERVICE & Host James B on Twitter @jamesbisright
Voicemail Line: 575-322-4127 (3M Max)
---
Support this podcast: https://podcasters.spotify.com/pod/show/thenotoriousbanker/support
1 hr 8 min