Posted on 01/26/2020 10:05:24 AM PST by NormsRevenge
In one of his many campaign ads airing across California, presidential candidate Tom Steyer has touted the work of a nonprofit-owned bank he founded, portraying it as a counterweight to Wall Street corruption.
But while the Oakland-based institution has a well-regarded record of making socially responsible investments, its auto loan program has left behind a long trail of defaults and lawsuits against low-income borrowers in the state, a Bay Area News Group review of financial and legal documents found.
Beneficial State Bank — which Steyer co-founded with his wife, Kat Taylor, and served as board chairman until joining the presidential race in July 2019 — has filed lawsuits and won court judgments against 1,800 borrowers who fell behind on their payments over the past three-and-a-half years, out of more than 22,000 total loans, according to court records and data provided by bank executives.
...
A new kind of bank
Steyer, who made his $1.6 billion fortune through a San Francisco hedge fund, started Beneficial — originally named OneCalifornia — with Taylor in 2007. The purpose, they say, was to show how a bank with a public mission could serve as a tool for social good, just as the financial collapse was shaking public confidence in Wall Street.
(Excerpt) Read more at mercurynews.com ...
As much as 27.99 % auto loan rates ?? Mostly poor Central Valley customers ..
From Coal to financial institutions, what else has he and wife 'accomplished' that doesn't appear to make him flinch at all? I guess he hopes we all stay alseep at the wheel. He had good intent, right?
We never burned Steyer coal, we wuz too poor to afford it.
Now , I’d say the same is likely to be true for this country if a Socialist like Steyer is elected in November.
Tom's reply? "We critical people are always being criticized." Thanks NormsRevenge.
Now he is heavily invested in the very green movement he is pushing...
As much as 27.99 % auto loan rates ?? Mostly poor Central Valley customers ..
In large part illegal aliens most likely.
Steyer is just another super-sized leftist hypocrite
think Al Gore on steroids (and, if you can imagine it, even nuttier)
I think that, despite his billions, most of the voting public have, or will, see through him
Isn’t this what the pinkos call “predatory lending”?
This guy literally makes me sick to my stomach I mean nauseating!!! Negative charisma way negative!!!!
What has steyer ever ‘built’? Hotels? Office Buildings? Has he really ever hired anyone other than to count his money or to defend himself against lawsuits/
It doesn’t count as bad if a Democrat does it.
Thanks for posting!
Government is the lynchpin of legal insider trading.
You invest in the things government via you and yours is going to make people buy, if only through the scam of public funding and subsidies.
Steyer’s wife sits on the board of LaRaza.
Wait till you get a load of his wife. You’ll be hurling across the room.
The corrupt New York Times won’t care because he has a “D” by his name. Same for the guilty white liberal ‘elites’ at the Washington Post.
THE EPIC HYPOCRISY OF TOM STEYER
https://www.powerlineblog.com/archives/2014/04/the-epic-hypocrisy-of-tom-steyer.php
—
Some times referred to as the liberals answer to the Koch brothers..
—
Forbes.com 2014
Hedge Fund Billionaire Tom Steyer Comes Under Republican Attack
THE EPIC HYPOCRISY OF TOM STEYER
https://www.powerlineblog.com/archives/2014/04/the-epic-hypocrisy-of-tom-steyer.php
—
Some times referred to as the liberals answer to the Koch brothers..
—
Forbes.com 2014
Hedge Fund Billionaire Tom Steyer Comes Under Republican Attack
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.