My Dad, Russell Simmons wrote a blog "The Banks Are Bullying The Poor & I'm not Having it" basically calling these damn Banks out for taking advantage of the poor and then crying broke to the Government getting "Bailouts" while getting rich from charging the poor instead of educating them on how to handle their finances.
I understand where you are coming from. I can only speak from personal experience though. I have banked with credit unions (own by the people, yea right), as well as federal owned large and small banks. They are designed to keep certain people with the mega funds investing in them. While controlling the funds of those less fortunate. They offer second chance accounts however they offer no classes on budgeting because the aim is to keep those (poor) people in debt, accounts overdrawn and then there are charges.
Now there's a bank in the Wal-Marts here in Charlotte "Woodforest National Bank" based out of Texas and they're supposed to be a "second chance bank". Well this is what I have experienced, my son and I have accounts there, his is a "custodial account". Meaning whenever I go to the teller to make a deposit or withdrawal they can see there's more than one account in my name. I am known at the bank at the Wal-Mart near my house, I go there regularly. Just yesterday I was there I am sure these people could have seen my son's account was in the negative. They said nothing as they assisted me with my business seeing my account clearly had enough in it to cover what the negative balance was in his account again the employees said nothing. So today I get the notice in the mail the transaction took place on February 9, 2010 do you know how many times I have been inside that Wal-Mart since that date and again the employees said nothing. So I opened the notice and saw the account was in the negative and had been charged a fee ($34.00), please can I break the fee code $34.00, flip the numbers around and it's code for "fuck you". Don't act like yall wasn't using them codes when yall had beepers back in the day! Yep this is what the second chance banks are telling us well the black men "fuck you"!
Now get this I asked the manager is there anything I can do to get the charge removed? Them nazi mugs gone tell me to have MY SON take a test online and print out the damn DIPLOMA bring it back to the bank and they'll remove it! WTF! Now my account ain't never been in the negative. I ain't never had these issues until I opened an account for my son, a young black male, at a "second chance" racists bank. He hasn't had this problem with any of the other accounts he has with other banks! Please read my blog "Can I make a Deposit and go, please? Damn", here on globalGrind to learn more about Woodforest National Banks! Found in a WalMart near you!