http://minorityfortune.com/industry-reports/minorities-sidestep-banks-what-are-we-afraid-of/ Encouraging the wealth building and management of young minorities Sat, 28 Apr 2012 10:07:29 +0000 hourly 1 http://wordpress.org/?v=3.3.2 http://minorityfortune.com/industry-reports/minorities-sidestep-banks-what-are-we-afraid-of/comment-page-1/#comment-149 Tina Fortune Mon, 07 Dec 2009 03:00:52 +0000 http://minorityfortune.com/?p=1685#comment-149 When I was in a low income bracket a decade ago, the banks would put a "hold" on my checks. I remember getting $2k-$3k checks from my student loan reimbursments and the bank placing 10 day holds. Sometimes when the checks were over $500 they would do the same. I'm not sure if this is the same today because those days are long gone for us. Yet, there is distrust because of the treatment from banks as well. I'm not sure if it is fear as much as it is mis-education and improper usage of the debit card (which I do not recommend carrying). I also believe that the fact that the banks were making 36.7 Billion dollars a year may scare minorities too. I mean who do we think were paying all of those fees? Certainly not those with hundreds of thousands in the bank. When I was in a low income bracket a decade ago, the banks would put a “hold” on my checks. I remember getting $2k-$3k checks from my student loan reimbursments and the bank placing 10 day holds. Sometimes when the checks were over $500 they would do the same. I’m not sure if this is the same today because those days are long gone for us. Yet, there is distrust because of the treatment from banks as well. I’m not sure if it is fear as much as it is mis-education and improper usage of the debit card (which I do not recommend carrying). I also believe that the fact that the banks were making 36.7 Billion dollars a year may scare minorities too. I mean who do we think were paying all of those fees? Certainly not those with hundreds of thousands in the bank.

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