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Killer Mike's new Black-owned bank receives 'tens of thousands' of account requests
Posted on 10/11/20 at 10:00 pm
Posted on 10/11/20 at 10:00 pm
In less than 24 hours
Finally, a bank to compete against the likes of USAA.
quote:
A new majority Black and Latinx-owned and operated digital bank hopes to make supporting Black-owned banks and businesses a little easier for consumers.
quote:
While the bank doesn't open until January, the company launched its website on Thursday and there is already a waiting list for those who want to open a Greenwood account.
quote:
Like its competitors Chime, Aspiration, Money Lion and Vero, Greenwood is a digital bank whose financial services -- including checking and savings accounts, mobile deposits and peer-to-peer transfers -- are fulfilled almost entirely online. The bank offers a global ATM network, Apple and Android Pay services, and two-day advances on paychecks for customers who sign up for direct deposit.
Unlike its peers, however, Greenwood's target audiences are Black and Latinx communities and anyone else who wants to support Black-owned businesses. Glover says the bank will specialize in financing Black and Latinx entrepreneurs who typically
have a harder time securing loans from mainstream commercial banks.
Finally, a bank to compete against the likes of USAA.
56
Posted on 10/11/20 at 10:01 pm to Will Cover
Posted on 10/11/20 at 10:02 pm to Will Cover
So the premise is targeting accounts based specifically on race. That's racist.
Posted on 10/11/20 at 10:02 pm to Will Cover
quote:
two-day advances on paychecks for customers who sign up for direct deposit.
I'm sure this will all go smoothly
Posted on 10/11/20 at 10:03 pm to Will Cover
quote:
Latinx
I have never met a Hispanic person that didn’t think this is retarded.
White people taking offense for minorities
This post was edited on 10/11/20 at 10:12 pm
Posted on 10/11/20 at 10:03 pm to Will Cover
quote:
Glover says the bank will specialize in financing Black and Latinx entrepreneurs who typically
have a harder time securing loans from mainstream commercial banks.
AKA sub prime lending. Sounds like a great business model. Not sure why Wells Fargo or Chase never thought of it.
Banks don't refuse you based on race as that is highly illegal. They refuse you based on ability to repay.
Posted on 10/11/20 at 10:04 pm to Will Cover
quote:
and two-day advances on paychecks for customers who sign up for direct deposit.
I found what’s going to bankrupt them.
Posted on 10/11/20 at 10:04 pm to Will Cover
Can't wait to see the reaction when interest rates go through the roof because the folks with a credit score of 12 keep defaulting on their $900 loan
Posted on 10/11/20 at 10:04 pm to Will Cover
So, is this bank going to be federally insured?
Posted on 10/11/20 at 10:05 pm to Will Cover
If something like this could be done right (unlikely) I actually don’t hate the idea. It would show some actual concrete initiative to at least attempt to improve inner cities and maybe encourage small business ownership, entrepreneurship, and self initiative instead of bitching about how bad you have it ... team up with people in the communities to pair it with some career counseling and some business and management classes and it could have some decent potential
This post was edited on 10/11/20 at 10:08 pm
Posted on 10/11/20 at 10:07 pm to Maytheporkbewithyou
Wakanda Federal Baw
Posted on 10/11/20 at 10:09 pm to Will Cover
Wtf is Latinx?
Oh..and I’d be Hesitant to trust my money with anyone named “Killer Mike”...but my parents were ultra,conservative
Oh..and I’d be Hesitant to trust my money with anyone named “Killer Mike”...but my parents were ultra,conservative
This post was edited on 10/11/20 at 10:11 pm
Posted on 10/11/20 at 10:09 pm to Will Cover
It doesn’t have vaults so it’s easier to rob to make poc more comfortable
Posted on 10/11/20 at 10:10 pm to ThePoo
quote:
If something like this could be done right (unlikely) I actually don’t hate the idea. It would show some actual concrete initiative to at least attempt to improve inner cities and maybe encourage small business ownership, entrepreneurship, and self initiative instead of bitching about how bad you have it ... team up with people in the communities to pair it with some career counseling and some business and management classes and it could have some decent potential
I have zero problem with someone using their own capital to lend money to high risk customers at low interest rates.
Posted on 10/11/20 at 10:12 pm to Will Cover
quote:
Latinx-owned
Can we stop this shite? No latino I know likes or says (how do you even say it, la-tinks) this nonsense.
Posted on 10/11/20 at 10:12 pm to JonTigerFan11
quote:
So the premise is targeting accounts based specifically on race.
Which is 100% illegal.
Posted on 10/11/20 at 10:12 pm to upgrayedd
quote:
Can't wait to see the reaction when interest rates go through the roof because the folks with a credit score of 12 keep defaulting on their $900 loan
I have a pretty solid credit score but one of the things that helps me is my credit history length.
When I got an Amex years ago, it came with a stamp on it that read "member since 1986". The problem is that I was 8 in 1986. When I look at my length of credit history on my report it says 34 years. I've been just letting it slide for over a decade
Posted on 10/11/20 at 10:13 pm to Will Cover
I see this one ending in a lot of lawsuits
Posted on 10/11/20 at 10:13 pm to Will Cover
As a half Latino, I despise the word latinx. That is some stupid progressive woke shite. I asked my family in Costa Rica do people say that over there and they never heard of that word lol. Other Latinos I know here despise that word.
This post was edited on 10/11/20 at 10:14 pm
Posted on 10/11/20 at 10:14 pm to fallguy_1978
quote:
When I got an Amex years ago, it came with a stamp on it that read "member since 1986". The problem is that I was 8 in 1986. When I look at my length of credit history on my report it says 34 years. I've been just letting it slide for over a decade
I hate to tell you, but one of your parents took out a credit card in your name when you were 8.
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