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re: Killer Mike's new Black-owned bank receives 'tens of thousands' of account requests
Posted on 10/11/20 at 10:17 pm to Will Cover
Posted on 10/11/20 at 10:17 pm to Will Cover
quote:
two-day advances on paychecks for customers who sign up for direct deposit.
They’ll make a shite ton of money off of fees for stuff like this.
It’s actually a pretty ingenious idea if they can get a business model together. If it’s black owned and can for the large part help the black community by assisting them in building trust and hopefully credit, I’m all for it.
There’s going to be some incredible fricking for a good portion of them though. You can’t target a market that has a history of bad credit and poor banking and not have a method to make money in a non traditional banking method.
1
Posted on 10/11/20 at 10:19 pm to baldona
quote:
They’ll make a shite ton of money off of fees for stuff like this.
It’s actually a pretty ingenious idea if they can get a business model together. If it’s black owned and can for the large part help the black community by assisting them in building trust and hopefully credit, I’m all for it.
There’s going to be some incredible fricking for a good portion of them though. You can’t target a market that has a history of bad credit and poor banking and not have a method to make money in a non traditional banking method.
I'm sure it'll be a typical "predatory lending" setup but people will ignore that because it's "black owned"
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