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Will Cover
Texas Tech Fan
Lubbock, TX
Member since Mar 2007
36240 posts

Killer Mike's new Black-owned bank receives 'tens of thousands' of account requests
In less than 24 hours

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.



SuperSaint
Stanford Fan
Sorting Out OT BS Since '2007'
Member since Sep 2007
115940 posts

re: Killer Mike's new Black-owned bank receives 'tens of thousands' of account requests


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1418
JonTigerFan11
Member since May 2016
746 posts

re: Killer Mike's new Black-owned bank receives 'tens of thousands' of account requests
So the premise is targeting accounts based specifically on race. That's racist.


thejuiceisloose
UNO Fan
U.S. and A
Member since Nov 2018
516 posts

re: Killer Mike's new Black-owned bank receives 'tens of thousands' of account requests
quote:

two-day advances on paychecks for customers who sign up for direct deposit.


I'm sure this will all go smoothly


sand mountainDvalues
Arkansas Fan
Member since Oct 2018
8718 posts
 Online 

re: Killer Mike's new Black-owned bank receives 'tens of thousands' of account requests
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 at 10:12 pm


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1170
stout
Arizona Fan
Smoking Crack with Hunter Biden
Member since Sep 2006
145811 posts

re: Killer Mike's new Black-owned bank receives 'tens of thousands' of account requests
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.


DiamondDog
LSU Fan
Member since Nov 2019
3255 posts

re: Killer Mike's new Black-owned bank receives 'tens of thousands' of account requests
quote:

and two-day advances on paychecks for customers who sign up for direct deposit.



I found what’s going to bankrupt them.


upgrayedd
US Space Force Fan
Lifting at Tobin's house
Member since Mar 2013
112839 posts
 Online 

re: Killer Mike's new Black-owned bank receives 'tens of thousands' of account requests
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


Maytheporkbewithyou
Arkansas Fan
Member since Aug 2016
8478 posts

re: Killer Mike's new Black-owned bank receives 'tens of thousands' of account requests
So, is this bank going to be federally insured?


ThePoo
LSU Fan
Work
Member since Jan 2007
59519 posts

re: Killer Mike's new Black-owned bank receives 'tens of thousands' of account requests
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 at 10:08 pm


KemoSabe65
Member since Mar 2018
3312 posts

re: Killer Mike's new Black-owned bank receives 'tens of thousands' of account requests
Wakanda Federal Baw


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421
CrownTownHalo
Mississippi St. Fan
CrownTown, NC
Member since Sep 2011
1496 posts

re: Killer Mike's new Black-owned bank receives 'tens of thousands' of account requests
Wtf is Latinx?

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 at 10:11 pm


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303
el Gaucho
Southern Fan
bawcomville
Member since Dec 2010
42951 posts
 Online 

re: Killer Mike's new Black-owned bank receives 'tens of thousands' of account requests
It doesn’t have vaults so it’s easier to rob to make poc more comfortable


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225
upgrayedd
US Space Force Fan
Lifting at Tobin's house
Member since Mar 2013
112839 posts
 Online 

re: Killer Mike's new Black-owned bank receives 'tens of thousands' of account requests
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.


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651
fr33manator
LSU Fan
Baton Rouge
Member since Oct 2010
97679 posts

re: Killer Mike's new Black-owned bank receives 'tens of thousands' of account requests
quote:

Latinx-owned


Can we stop this shit? No latino I know likes or says (how do you even say it, la-tinks) this nonsense.



DavidTheGnome
Monroe
Member since Apr 2015
23326 posts
 Online 

re: Killer Mike's new Black-owned bank receives 'tens of thousands' of account requests
quote:

So the premise is targeting accounts based specifically on race.




Which is 100% illegal.


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342
fallguy_1978
LSU Fan
Half mile from St George
Member since Feb 2018
30868 posts

re: Killer Mike's new Black-owned bank receives 'tens of thousands' of account requests
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


The Pirate King
USA Fan
Pangu
Member since May 2014
39011 posts
 Online 

re: Killer Mike's new Black-owned bank receives 'tens of thousands' of account requests
I see this one ending in a lot of lawsuits


Byrdybyrd05
Member since Nov 2014
11152 posts

re: Killer Mike's new Black-owned bank receives 'tens of thousands' of account requests
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 at 10:14 pm


upgrayedd
US Space Force Fan
Lifting at Tobin's house
Member since Mar 2013
112839 posts
 Online 

re: Killer Mike's new Black-owned bank receives 'tens of thousands' of account requests
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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