Posted on 07/01/2009 6:54:37 AM PDT by Willie Green
Nine former Bank of America employees accused the bank of over-selling services to Hispanic clients to create financial chaos that would result in bank fees.
"We were coached every day to push multiple checking accounts, credit cards and debit cards even when the customer didn't understand how to use them," said former employee Gabby Ornelas of Landover Hills, Md.
Ornelas, who speaks Spanish, said she was specifically instructed to attend Hispanic gatherings, neighborhood stores and even child welfare centers to sign up customers.
"We were told to sign them up for multiple checking accounts, which they didn't even need," said former bank teller Ambar Sandoval of Los Angeles.
Bank spokeswoman Anne Pace said the group, backed by the Services Employees International Union, "misrepresent the bank's relationship with its customers and its associates."
"We believe a checking account is the cornerstone to establishing financial security in this country," Pace said in an e-mail, The Los Angeles Times reported Tuesday.
"We offer innovative financial services to meet the needs of all of our customers, including Hispanic customers," Pace said.
"We believe a checking account is the cornerstone to establishing financial security in this country," Pace said in an e-mail,
When I was a kid, we were taught that a savings account was fundamentally most important. And that you had to be much more careful with a checking account so that you don't spend more money than you have.
I still believe that to be true.
I also believe that the banking industry is largely operated by liars and swindlers.
"Nowadays people can be divided into three classes -
- the haves, the have-nots, and the have-not-paid-for-what-they-haves"
~ Earl Wilson
Sounds just like any banking institution.We need to have a Andrew Jackson war on the sleazy banks.Gold rules!
Just another reason why they don’t need to be here.
Earl will be quoted often.....Thanks !
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Service Employees International Union--SEIU. ??? Is this not the union that is in bed with ACORN? If so, these bums have their tentacles into everything.
Earl will be quoted often.....Thanks !
My pleasure!
I just stumbled across that one when trying to look up the exact wording of another one I intended to use.
I'm glad you like it!
However, I wouldn't be surprised to find out that the accusations are largely true because BOA was doing a full court press on the Hispanic market, before the recent meltdown that is.
The parasites don't prey on just the immigrant community.
Who in America hasn't received a "preapproved" credit card for the family dog???
I didn’t say that BOA was only going after the immigrant community. Certainly they have gone after all sectors that they could. But what bothers me most about BOA is that they were not being prudent in their pursuit of the Hispanic market. They were giving out credit cards and loads to illegals, without requiring proof of identity or ability to pay the loans back.
Editing in progress on last post. Should say:
They were giving out credit cards and LOANS to illegals, without requiring proof of identity or ability to pay the loans back.
Bank spokeswoman Anne Pace said the group, backed by the Services Employees International Union, "misrepresent the bank's relationship with its customers and its associates."
Yeah.... it looks like an instance of parasite v parasite.
In such situations, I always thought it wise to not choose sides.
Much better to let them get preoccupied with each other and then whack at 'em both from a distance with a big long stick.
I didn’t say that BOA was only going after the immigrant community.
I know.
I didn't intend to imply that you did.
I was merely trying to broaden the perspective of how Bank of America (and many other banks) market their "services".
re: Yeah.... it looks like an instance of parasite v parasite.
I agree. Both sides benefited from the relationship. However, BOA went into many of the situations expecting the federal government (i.e. the taxpayer) to bail them out. Here in Nevada we have an extremely high rate of defaulted house loans. A large percent were loans made to illegals. The entire economy has been negatively impacted by the housing market and the unwise decisions made by banks such as BOA.
Every bank I know goes after people to open multiple accounts. It's stupid people who agree to open them not the bank!
Maybe if they learned to speak English when they crossed the border (many of them ILLEGALS) they would understand!
SEIU has launched another statewide television ad. This one calls into question the Governor's claim to support "shared sacrifice." The ad points out that the Governor calls cutting healthcare for kids, college for students, and home care for seniors "shared sacrifice," while asking big oil and tobacco to pay is a "deal breaker."
Democratic legislative leaders are sending strong signals that they don’t plan to let the Governor’s radical cuts pass.
Democratic legislators voted down the Governor’s proposed elimination of CalWORKS
SEIU also opposed Proposition 1D and 1E, which would have raided children's health and mental health funds
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While the state of California is going BROKE!
I witnessed a huge push in the 90’s with Bank of America in getting illegals as customers.
Now, I cannot cry for BoA with any of the troubles they have, as they deserve it, if only for the fact that they are multiculturalists who are trying to destroy this country for a profit.
This is about making sure illegals don’t have to pay their loans back like Americans do.
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