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

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My dad would have donated a kidney to me before he gave me access to a credit line he had open back then.

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You didn’t have to have actually use the card in order to “have access”. Your parents could have added you to an account and never given you the card and just paid off the bill each month. This way your credit gets built up.

My wife’s dad did the same thing for her with his company amex.

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found what’s going to bankrupt them.

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Its probably going to be like Chime. The money is already sent to the bank. They just release it early.

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Gotta start somewhere. You can't be mad about the "poor money management of blacks" and also get mad about someone trying to fix it. It may not be perfect, but it's a step in the right direction.

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Capitalism will help any person who works hard and smart. This is not an example of that. It’s a really bad business model but sincerely wish them luck and I hope they prove me wrong.

I have zero issues with this.

Sounds like a solid capitalist venture.

Say bruh, Where is muh loan faw mah chrome 28s faw my 82 Caprice? Sheeeeeeit!
Well because,
I got long hair,
No pocket full of stones,
no mad hoes,
Playin on mah phone.
I talk plenty shite,
muthufrickuh I’m grown,
And everybody in duh clique got chrome on dey shite. Ah needs duh chrome!

Looks like they are aiming for the "most overdrafts" world record

If they are doing everything online, how are they going to successfully discriminate?

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I have zero issues with this.

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I do. Because your and my tax dollars will be on the hook to bail this guaranteed money loser out.

Doesn't seem a lot of people are familiar with Killer Mike. He's an extremely intelligent, well-spoken, opinionated, gun supporting, business owning black man whose main mission in life has been to empower black folks. He very much believes that the black community needs to improve its own lot in life rather than rely upon institutions who, time and again, have proven unable or uncommitted to truly making changes.

One of the main reasons blacks can't get loans to open businesses is that banks find the communities they want to open those businesses in as high risk. How can these areas change without an influx of capital investment? They can't. Mike believes that there are opportunities in these areas deserving of that capital investment so he's creating a means of allowing some of that investment to flow. I can't see why anyone would look down on his efforts or shame him for doing something to improve his community?

Also, I can damn near guarantee you he's not in this to make money for himself. The dude truly cares and wants to initiate change.