Tuesday, June 09, 2009

This banking ripoff is PERFECT for a black person...OR a white person!

You've all seen this by now, I assume...

...and yes, if you haven't figured it out, Red House is a real place, even if the ad didn't actually run on TV.

One of the recurring snide comments I've read in connection with this video is "Only in North Carolina would they even consider running something like this." Because self-awareness is against the law in the southeast, right? Because once you get to Virginia, irony is what you use on your shirts-ony, right? Because the rest of the country is sooooo much more progressive, right? Riiiiiiight?

Let me help you out with something ripped screaming and afraid from the headlines. Like our buddy Ten Gauge, the fine people at the Baltimore branches of Wells Fargo (the banking behemoth that recently ate home-grown Wachovia alive) liked extending credit to everybody. But unlike our buddy Ten Gauge, if the pending lawsuit is to be believed, certain types of now-infamous credit ripoffs were aimed very heavily at minority customers. The declarations of ex-employees claim that African American and other minority communities were targeted for subprime mortgages ("ghetto loans," they called them), and in fact told all kinds of fanciful lies to people who qualified for prime loans to get them on the subprime train.

They focused on African-American churches. Churches, people. I don't know how different it is in the streets of Baltimore, but here in Red House country (where, if you'll remember, black people AND white people buy furniture), the church community is still considered Quite Worthy. They didn't call the game plan "riding the stagecoach to hell" for nothing.

Now consider this: the company that does credit pre-qualifying for Red House claims to offer a non-discriminatory assessment of all applicants, and not following up on what would seem to be a commonsense "play fair" rule is a surefire way to have your name immortalized in an 800+ page legal complaint...as Wells Fargo Baltimore has found out.

So really, who's the chump now? And can't we all just get along? I know of a place where we can, but you'll have to figure out where it is yourself. It's down the road from the Cuban gynecologist who sells cars.

1 comment:

corporatebully said...

RBC Bank President Gordon Nixon - Salary $11.73 Million


I'm a commercial fisherman fighting the Royal Bank of Canada (RBC Bank) over a $100,000 loan mistake. I lost my home, fishing vessel and equipment. Help me fight this corporate bully by closing your RBC Bank account.

There was no monthly interest payment date or amount of interest payable per month on my loan agreement. Date of first installment payment (Principal + interest) is approximately 1 year from the signing of my contract.
Demand loan agreements signed by other fishermen around the same time disclosed monthly interest payment dates and interest amounts payable per month.The lending policy for fishermen did change at RBC from one payment (principal + interest) per year for fishing loans to principal paid yearly with interest paid monthly. This lending practice was in place when I approached RBC.
Only problem is the loans officer was a replacement who wasn't familiar with these type of loans. She never informed me verbally or in writing about this new criteria.

Phone or e-mail:
RBC President, Gordon Nixon, Toronto (416)974-6415
RBC Vice President, Sales, Anne Lockie, Toronto (416)974-6821
RBC President, Atlantic Provinces, Greg Grice (902)421-8112 mail to:greg.grice@rbc.com
RBC Manager, Cape Breton/Eastern Nova Scotia, Jerry Rankin (902)567-8600
RBC Vice President, Atlantic Provinces, Brian Conway (902)491-4302 mail to:brian.conway@rbc.com
RBC Vice President, Halifax Region, Tammy Holland (902)421-8112 mail to:tammy.holland@rbc.com
RBC Senior Manager, Media & Public Relations, Beja Rodeck (416)974-5506 mail to:beja.rodeck@rbc.com
RBC Ombudsman, Wendy Knight, Toronto, Ontario 1-800-769-2542 mail to:ombudsman@rbc.com
Ombudsman for Banking Services & Investments, JoAnne Olafson, Toronto, 1-888-451-4519 mail to:ombudsman@obsi.ca





"Fighting the Royal Bank of Canada (RBC Bank) one customer at a time"