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Bank of America: "We Invite You to Use The Convenience of Our ATMs to Bank on Your Time....Unless You Are Black. If So, Then Please Do So By 6pm!"
The Notorious Banker
English - January 10, 2020 22:27 - 1 hour - 61 MB - ★★★★★ - 54 ratingsBusiness Homepage Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed
Bank of America turns off ATMs at 6pm in black neighborhoods for what they describe as "safety reasons"
This has been the topic I was the most nervous talking about. But a news story from St Louis TV Station KMOV made me decide it needs to be discussed. This has a section in my upcoming book
Here's the thing: Bank of America managers are tasked to thin out the line in the branches, and are even incentivized in their bonuses by it. They call it "digital migration". When you tell a client to go to the ATM, the expectation is they can do it anytime.
Tell that to the folks on 29th and Crenshaw in Los Angeles
Tell that to the folks in North City in St. Louis
Their ATMs close at 6, leaving one of two options:
To use a non-BofA atm for a fee (plus a $2.50 fee that BofA charges)
Or:
Go to the nearest open ATMs sometimes up to half an hour away...In a white neighborhood, which African-Americans can tell you for obvious reasons, they will not want to go
These are Facts that a Bank tells people, FORCES people to not bank inside a lobby and gives them one less option to do so past dark. It reeks of suffocating people from their money to get them to leave. It will happen in all places that BofA no longer wants to be. I will also talk about how Crooks will realize they can't rob people at those ATMs and will just read on the screen where TO go to rob someone. Safety can't be a concern unless you CLOSE THEM ALL EVERYWHERE!
I discuss how they closure of the ATMs is setting a false narrative when St Louis police mention only 1 incident has happened city-wide in the last year. I include portions of a news report from KMOV in the second half of the pod breaking down what is being said by Bank of America and what is said by those interviewed for the story, including commentary on visuals I saw in the piece.
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