The "unbanked" need to take their butts back to Mexico.
Posted on 09/08/2008 7:48:48 AM PDT by SmithL
There's little doubt that these are tough economic times for most Americans. But of all the people affected by such a downturn, perhaps no one suffers more than low-wage workers who struggle even in good times to make ends meet. Their challenge in acquiring and maintaining assets – a house, a business or even a savings account – makes them even more vulnerable when times get tough.
Millions of American households have no checking or savings account of any kind. The "unbanked" typically don't know if they qualify, how to open accounts or even if they should. Without bank accounts, they must rely on check-cashing outlets with exorbitant fees, pay bills with money orders and fall into other predatory services that lead to insurmountable debts and an endless cycle of poverty.
Every day, working people lose hard-earned money to these establishments that, over a career, will cost the average full-time worker more than $40,000 for basic financial services that are free for most people. That's the equivalent of a college education or down payment on a house – no small amount to someone living paycheck to paycheck.
That's why I'm proud to be a part of a unique public-private partnership in San Francisco among government agencies, banks, credit unions and nonprofits that is working to change this reality. The program, called, "Bank on San Francisco," works with financial institutions to waive minimum balance requirements and accept alternative forms of identification, while also raising consumer awareness about the benefits and responsibilities of account ownership.
(Excerpt) Read more at sacbee.com ...
Sounds like the “unbanked” need a
“community organizer”
Let’s all turn yet another aspect of our lives over to government control.
All in the name of “equality”.
Hooray!
There's the tip-off that this is all about providing financial services to illegal aliens. Citizens and legal residents have no trouble providing the normal forms of identification.
This could be taught in school if we didn't have to spend so much time covering global warming theory, peace studies, womyn and african history, etc. etc. etc.
Why do I have the feeling that the vast majority of the “unbanked” are “unlegal”?
I’ll bet there are tens of thousands of bankless people sleeping under bridges all over this country. Just the other day I was walking down the street and a guy was sitting there with a sign: “I’m a Bankless, Please Help”. :)
The biggest hurdle is a cultural distrust of banks as exploitative, “white” (or Jewish) institutions. I’ve had accounts with a balance of $2 for months on end. I had an account when I was just starting out in life and made less than $5k a year! The only obstacle for the “unbanked” is their ignorance. If they can be taught otherwise through some charitable outreach program, fine, but I see no need for “alternative forms of ID” or any of that illegal-alien-accomodating BS.
How about going to a bank and asking how to get an account? Unless you have a record of bouncing checks, if you come with a couple hundred bucks of cash they'll open an account for you.
You got it in one.
And let’s not cry too much for the unbanked unlegal. I can go to any Bank of America (or Banco del Norteamerica, as I call ‘em around here) and look at all the signage they have up in Spanish. In areas with a burgeoning illegal population, like here around RDU, the banks are tripping over themselves to get their business.
}:-)4
T%he undead deserve to vote...............
Translation: There’s a hell of a lot of money to be made off of poor people.
Most banks, including the one I work for, have basic free checking accounts with no minimum balance, as long as you haven’t been put on chexsystems for letting another previous account charge off...i.e...overdrafting and not making it right within a relatively short time frame.
Many of the “unbanked” either can’t balance a checkbook, overdraft constantly, or just don’t know that they can get an account at most institutions.
Maybe the “unbanked” are also the “unmonied”. Obama will fix that......
What I find funny is that on more than one occasion, I’ve read articles where Mexican immigrants maintain Mexican bank accounts because they “don’t trust US banks...”
ROFLMAO! You don’t trust OUR banking system, but leave your money in a bank located in one of the most horribly corrupt nations in the world?
Well, he’ll say he fixed it.
Giving money to the poor doesn’t make them not poor, because they’ll just spend it on consumables instead of on capital goods that increase their wealth.
I have to relay this to fellow FReepers - I have a three yr old that understands politics/economics better than most leftists.
She understands “work hard, get paid. Don’t work hard, don’t get paid”.
And then I explained how 0bama and the Left get around this by inciting envy in the “don’t work hard” guy then stealing the wealth from the “work hard” guy.
She responded with “why doesn’t someone tell 0bama about the 10 commandments?”
The "unbanked" need to take their butts back to Mexico.
If they “unbanked” aren’t able/don’t qualify to walk into a bank, fill out a simple form, and open a FREE checking account, then, sorry to say, there is little else we can do for them...
***The “unbanked” typically don’t know if they qualify, how to open accounts or even if they should.***
Considering there are banks on most street corners, and their ads blanket TV, radio, papers, bill boards; I would say if the unbanked still don’t know if they qualify, they aren’t bright enough to have an bank account.
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