I pay my bills. That's all the bank needs to know

@winstonsmith6204

11 ай бұрын

Yep

@prapanthebachelorette6803

11 ай бұрын

Agree

@Mehhh_was_here

11 ай бұрын

thats how it should be but in real life its not going to work.... when they are together you cant do anything. unfortunately in sweden you even have to give where you work too (Länsförsäkringar bank) has that. all the bank forces you to fill....so many things.

@CJ-cc5jm

11 ай бұрын

If someone asks too many questions when i'm trying to get a loan, I might tell them they gotta pay for that.

@mensrea1251

11 ай бұрын

Nonsense. Try actually living in that kind of world where the banks are not allowed to monetize your private data and you’ll find yourself without credit, without a mortgage, without a house, without a car, without much of a future. That’s the hard reality. Credit has powered the expansion of the world economy and given you the quality of life and lifestyle that you and billions of others enjoy. You may say you’re ok giving all that up but most will not.

It’s funny how banks use this as risk assessment, yet as a former banker my job #1 was to sell debt.

@HateTheIRS

11 ай бұрын

Well you need enough income to pay off the debt they sell you.

@x-men69-96

11 ай бұрын

It is one of the reason you are a former banker.

@nachiketpatil9338

11 ай бұрын

@@x-men69-96understatement!

@prapanthebachelorette6803

11 ай бұрын

Interesting

@paillette2010

11 ай бұрын

@@DreamSequia who the average consumer? Hardly. That’s a rich person’s game. And despite the Rich Dad books that man has sold, _few_ people are leveraging debt in a way to gain wealth.

The banking situation is a reminder that Fed hikes are having an effect, even if the economy has held up so far,” It’s precisely at times like these that investors need to be on guard against the next certainty. First SVB, then signature bank and now first republic bank, these are all the signs of yet another 2008 market crash 2.0

@LionTowercoporation

10 ай бұрын

Investors should commit to reputable companies by holding steady or increasing investments during market downturns, as well-managed enterprises eventually rebound with renewed strength. Seeking guidance from a financial advisor can help identify opportune entry and exit points for long-term profits through stock appreciation. Working with an investment advisor can result in significant gains, as seen during the pandemic with a gain of $530k in just 8 months.

@UshnicYuvnikof

10 ай бұрын

Over the years, I have learnt not to trust corporations. I was badly hit by the '08 financial crisis. Since 2019, I've just been focused on investing through a financial advisor and it has been paying off. No major loss has ever been recorded since 2019 i started. I'm never going back to banks full time.

@adakkristinn

10 ай бұрын

@@LionTowercoporation this is huge! think you can point me towards the direction of your advisor? been looking at advisory management myself.. seeking ways to invest and make more money with the uncertainty in the economy

@LionTowercoporation

10 ай бұрын

@@adakkristinn My Financial adviser is ‘’Colleen Janie Towe’’ she’s highly qualified and experienced in the financial market. She has extensive knowledge of portfolio diversity and is considered an expert in the field. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market

@adakkristinn

10 ай бұрын

@@LionTowercoporation Thank you. I will search on her site online and do my due diligence. If She seem proficient. I write her an email and scheduled a phone call.

The Collapse of American banks has torn into global markets, with investors ripping up their forecasts for further rises in interest rates and dumping bank stocks around the world. I'm at a crossroads deciding if to liquidate my dipping 200k stock portfolio, what's the best way to take advantage of this bear market?

@maiadazz

11 ай бұрын

I have learned to not trust corporations. I was badly hit by the '08 financial crisis. Since 2019, I've just been focused on investing through a financial advisor, and it has been paying off, and I'm never going back to banks full time.

@tatianastarcic

11 ай бұрын

I consider gold investment to be dependable and intend to increase my holdings to recoup losses. While silver is also a promising investment, it differs from my collectibles. Having clear investment goals and acquiring knowledge in the field are essential. I collaborate with Laurel Dell Sroufe, a financial consultant regulated by the SEC. Through modest initial investments, I have gradually accumulated nearly $799k over time.

@darnellcapriccioso

11 ай бұрын

@@tatianastarcic How can i reach her, because I’m seeking for a more effective investment approach on my saving.

@tatianastarcic

11 ай бұрын

@@darnellcapriccioso Laurel Dell Sroufe is an exceptional individual with a talent for diversifying her investments. You can easily confirm her identity by conducting an online search. She possesses extensive knowledge of the financial markets.

@richardhudson1243

11 ай бұрын

@@darnellcapriccioso Upon conducting a comprehensive search, I discovered that her complete name occupied the highest position in my search results. I express my gratitude for this valuable information, and it is genuinely appreciated.

Thank you for that informative, non-scripted, not-at-all self-serving explanation that was clearly independently created and not spoon-fed by the banks interview. I feel so very informed now. I'm calling my bank to give them all my financial information as well as that of my spouse and children so that my family can bask in the glory of financial services tailored to meet our needs and save us money.

@karlhernandez617

11 ай бұрын

❤️ this comment

@nysteelhorse

11 ай бұрын

I'd say there was a level of naivete evident in this report. That reporter needs to start traveling with salt in their pockets so they can take a grain when they're interviewing.

@nathanp.5563

8 ай бұрын

I'm going to go off a limb here... I'm picking up some sarcasm here

Rule in corporate America: if they didn’t care, and now suddenly are desperate to know, they don’t want to know for the reason they say.

@Yup712

11 ай бұрын

Ding ding ding!!! We have the right answer!

@byDsign

11 ай бұрын

✅✅✅

Risk Assessment is only a pretext. The more information banks have about you, the more they can customize products to sell to you and also determine how much interest & fees they think they can charge and get away with, if you happen to be in a desperate situation or oblivious in case you happen to be well off. It's like poker - you never want to reveal all the chips you hold, because your opponents are devising plans based on that information.

@MF-qf7bs

11 ай бұрын

True. My bank started charging me monthly fee and I was told it was the lowest I could get. Then had a teller inform me that if I kept a minimum of $100 a month in the account I could have no mo. fee. My minimum mo balance is $1K+

@Kk-wp5rl

11 ай бұрын

In poker, you are required to reveal all the chips you hold.

"IT IS BANK POLICY" is the story I get when trying to do transactions with banks. They ask questions which are against the law, but it is 'bank policy" to which I reply, "It is none of your business, and if you don't want my business, I will go somewhere else." That usually shuts them up.

@Theomite

11 ай бұрын

Any examples of these illegal questions so I'll know them when I see/hear them?

@ya472

11 ай бұрын

@@Theomite Any questions about you finances, 'where else do you bank', ' do you have a mortgage, stocks or other assets', 'what is your income,spouses income', etc. If applying for a loan or mortgage, some of these questions are relevant, but not when opening an account, or depositing or buying a term deposit. Also, when you give your money to a bank, it becomes THEIR property. There is no guarantee they HAVE to return it.

@ya472

11 ай бұрын

@@Theomite Banks are the same as transacting with your neighbour, most information you give, or assets you hand over the fence, is no longer yours. Banks do not ACT in your benefit, they just want your stuff, so they can make money.

@Theomite

11 ай бұрын

@@ya472 ...say that last part again?

@ya472

11 ай бұрын

@@Theomite Just research stuff you do not have to share. Nosey Banks are like nosey neighbours.

This is such a great interview in just under six minutes, they spoke clearly and provide great information to the audiences

By understanding how Banks work, it becomes clearer why they ultimately fail. Do people even know Banks use a majority of their funds for their "personal investments"? Ever heard the saying cash is thrash? Just hold your money in more stable and lucrative ways and save yourself the stress.

@kortneyrawhouser6881

11 ай бұрын

...Easier said than done. what are the other options

@titanjack3118

11 ай бұрын

Sorry to jump in, but there a lot; gold, stocks, stable businesses etc. I know this cos personally I made my first million late last year from stocks and bonds which I have used to set up and put into the other things. The only downside is that you could also lose your funds which is easily remedied by using a professional or making very thorough inquiries. Good luck.

@marguritekostecki2194

11 ай бұрын

@@titanjack3118 ...wow I know this hilarious man. Once attended a fundraiser he was also in attendance here in Vancouver,, Great speaker with a funny accent,, He's in the States though, I doubt he works with non residents,,,

@AdverseOpinion

11 ай бұрын

This entire conversation feels fake.

@prancer1803

11 ай бұрын

@@AdverseOpinionit is, of course

My bank periodically asks me for my job and salary and I always put Unemployed and $0

@TheTruthSeeker756

11 ай бұрын

lol!😄

It’s like asking the fox how many chicken they would like to kill. 😂

I tell my bank I make 300k and I get 50k credit limits lol

@Mayordomo32

11 ай бұрын

I’d delete this comment.. lol

@austinip5273

11 ай бұрын

Maybe he’s telling the truth 😆

@Mayordomo32

11 ай бұрын

@@austinip5273 I don’t think he’d phrase it that way…

@otisonyme9649

11 ай бұрын

That's fraud...and illegal

@supreme5580

11 ай бұрын

That's illegal

It is happening folks, the future of work is being redesigned. Yes, More tech companies wants to fire more workers from next week: "The third wave is going to happen next week. That affects everybody in the biz teams, including in my organization. It's just a time of great anxiety and uncertainty" Says Meta President.

@manylinkz.lining

11 ай бұрын

Time and tide will not wait for any person. That means we must pay attention to how new technologies, and specifically AI, will make it easier for companies to become more efficient. Simply, this companies may not need a lot of workers, your bank may not need many staff. Your insurer may not need many workers. And the list keeps growing.

@CurateHub

11 ай бұрын

It has nothing to do with AI. Economic distress in America is enormous. Many banks have gone under. Inflation is biting harder. Ukrain miscalculation is obvious. Facebook has been using AI in most of its features and products for more than 15 years now, so Ai has nothing to do with it. They embarked on unprofitable projects. And over hired. Apple has never laid off employees despite the economic downturn. They did well in hiring and never had failed projects. Metaverse failed. Gaming projects failed. Fintech, Lira failed. In the last 20 months, Sanbberg left, nobody is there to "tame the lion" Most Tech companies went woke: hired talents in order to prevent competitors from having access, they kept them idle, just to hijack a pool of talent. Over hired without proper assessment and protection. The existing projects couldn't turn in expected revenue, even before inflation war in USA set it. Let's put it in perspective without blaming AI. 95% of big tech have been using AI in the last 15 years. Building a passive income is a real hedge against inflation. Such is a thing that won't fail when the govt and the big tech fails.

@Andrian-ch3on

11 ай бұрын

Is it time to require mandatory payment where even if you have no staff, you have to commit a certain percentage of your revenue which will be used to distribute to citizens as a "wage" alternative?

@VitaliiSych

11 ай бұрын

@@CurateHub I wish I could tackle your submission but I already threw in the towel before I read the last line. I give it to you on this. I'm very interested in building a passive income but it seems like I will need a lot of coaching as I do not posses the required expertise. You on the other hand seem very well knowledgeable in that field, can you give out some tips on getting started with passive income or can you recommend a personal financial coach?

@CurateHub

11 ай бұрын

@@VitaliiSych focus on acquiring a trusted advisor who can guide you. With their assistance, you can engage in trading and generate profits in stock and cryptocurrency markets, even if you lack prior knowledge. Consider reaching out to Elizabeth Puckett Hunter through any of her online medium

In Belgium, they could simply look it upon based on the money being deposited on your account. This is actually ones of the easiest things about your financial life for Belgian banks to know (unless you're a client with multiple banks).

@justinmiller1118

11 ай бұрын

In the US many people divide their direct deposit across 2 or more banks, and pre-allocate some of it to retirement savings and tax-free healthcare funds.

@justinmiller1118

11 ай бұрын

So your primary bank might only be getting 30% of your actual income deposited.

@TheRealMartin

11 ай бұрын

Yeah, so only about half of my taxable (W-2) income goes into my bank. It has federal taxes, state taxes, 401k contributions, after-tax 401k contributions (mega back door), some people might have roth, etc. Also about half my compensation is in the form of company stock. I also pre-pay extra federal taxes to avoid a huge tax bill at the end of the year. So the bank sees money come in, but they really only see about half or less.

@oregonflatland

11 ай бұрын

Yes but credit card companies can't do that because a lot of people don't bank with them or they aren't banking institutions. They only see what you spend and what your credit report tells them about your other debts and ability to service those debts.

The whole credit score / system is flawed. It's all debt based. If you have no debt you can't / won't have a perfect credit score. But then again, if you don't need to lend any money you don't need to worry about this nuisance.

@Thisthat1234

11 ай бұрын

Well if you fundamentally knew how banks make their money you’d understand that the credit score system is simply a tool of self preservation for the banks.

@K-wx6ki

11 ай бұрын

its circular youre right. penalize you if you dont have credit but also if you do

@ConsensusX

11 ай бұрын

Step 1: Get the biggest loan you qualify for. Step 2: default on it. 😎

@Afroninja2025

11 ай бұрын

​@@ConsensusXlol why

@ConsensusX

11 ай бұрын

@@Afroninja2025 Because the U.S. government does it. Oh wait... they just raise the limit every time 🥴

or just don't tell them anything, ever. Sure, if you need a loan, gonna have to give up some details; otherwise, just shut them down and tell them you'll switch banks if they persist (there are a lot of great saving rates out there right now anyway).

Well, Bank of America periodically just raises my credit limit without informing me. They definitely were doing a periodic check on income.

Banks are like the cops: don't trust them, don't talk to em.

This is why I would refuse to have my checking/savings with a "credit card" bank like Chase, Citi, BofA, etc. They'd be able to see how much your deposits are.

They can close my credit card. I don't care, because my income is none of their business. I'd rather have a ton of money than a credit score of 800, but that's just me.

you have a typo in the thumbnail

Proper data collection and analysis about the state of the economy in order to understand real value of the money printed

Hi JR@MoneyBriefingPod, I appreciate your segment on principle banking. I wasn't under the assumption, Wallstreet's Financial Reporter @Imani clarified institutional banks policies? To begin, I do believe banks have been long foreseen by traditional policy? Like personal to mortgage, she did mention a fallible accoustom banks now adopt? The idea of the American wealth system, for example, the use of credit, apposed to layoff statistics whereby business accounts are accountable for labor, as well as, building credit or wealth!

Interesting to know that providing accurate income information is not required. I would guess that it would be required in order to get a mortgage, auto or other type of loan in addition to one's credit score.

Just went to open a new checking account with a major bank, and one of the many questions they asked us was, what is your salary? And their justification was, we ask this for money laundering purposes.

If Im borrowing money from a bank via credit cards for a time, I dont see why telling them the income (which is easily manipulated) is such a bad thing. But really, we know why they REALLY want to know ... they want to find the people in this country with real income and/or assets, and advertise to them to get them to buy loans. They dont want to waste time and money pursuing broke people who will never be able to repay anything. They want to find that "millionaire next door" who can be very elusive. How many stories have we heard about the batty cave-dweller no one has heard of who donated millions to a college right before they died?

800k a year, live with parents, no rent, 2015 Ford Fiesta Sounds legit

Our Amex account recently asked us to confirm/update our income info. Not sure why. Our Amex balance does vary a lot, especially if we're traveling overseas.

The request to know more about annuties or other sources of income for the purpose of extending credit should not be requirement. Credit worthiness is a calculated as a result of consistent monthly payments made with creditors. Fico scores are then determined with this data to dertermine the credit limits increases or a set amount balances. The only time there is need for other sources of income is correct when there is a filing for Bankruptcy to dertermine how to settle the debt incurred that is owed to creditors. Or when a debtor does not want to pay their debts they often look at more sources of income to determine their actual repayment capability.

Good luck getting an honest answer.

I pay my bills. That's all the bank needs to know. I pay my bills. That's all the bank needs to know.

Most people have their salary deposited in their bank account. So the bank knows your income!

@ssl3546

11 ай бұрын

Not really, all they know is you get some money deposited. They don't know your year-end bonus or the money that gets diverted somewhere else or your tax payments. Also that's only true for your main deposit bank not any other banks you don't hold deposits with.

why? to sell credit cards, insurance, and if you will mortgage in future

If you request my information, I close my account. Bad move if your a bank, I'm retired with a secure income happy to leave these nasty banks.

Why do I keep getting notices from my bank about giving my signature for free life insurance? 🤔 It sounds sketchy as heck to me 🤷🏻‍♀️

I give them the same info year after year. If I provide it at all. MYOB. Don't people know it's RUDE to ask how much money you make?

Big Brother is always watching, and wants more information on you.

I report 200k of salary to increase my credit limit 😅😅😅 even when im still a fresh out college grad making 60k

Hello! I am from China and I like the program Money Briefing very much. Will you mind it if I transport the episodes to Bilibili, kind of a counterpart of KZread in China? You know, due to lack of access, this kind of vedios can be hardly seen in China. I will provide you with the website address after my transport.

@user-cb5wc4ey4m

11 ай бұрын

@@wisewidower6655 Yes, VPN is available here.

That's why I'm a member of Navy Federal Credit Union. And, not banks.

What is charity work and what are hedge funds????//

Banks know when paychecks are deposited, right? And estimate on that?

Yeah, at this point, the Great Banking Consolidation has begun, and were likely to see many more small banks get gobbled and folded into larger ones, and the resulting amalgamation will know more about its patrons money than they do.

My bank is not where I have my credit card. My main cc is for Costco. I don’t want a higher credit limit or different sorts of loans,

What? Are banks unable to add up all the deposits from work to checking accounts?

Don't they see the direct deposits hit your account (if you're an employee)? Seems pretty easy to figure out.

@AkweliParker

11 ай бұрын

Good point, but the amount could be different if you have other outflows happening before your check hits the bank: like retirement savings, HSA, etc. They usually ask for gross income, so the bank deposit might be just a fraction of total pay.

@stachowi

11 ай бұрын

@@AkweliParker also a good point, but you can still figure it out based on time and now AI... you can see the deposit and then you can see all withdraws, so you can categorize them (e.g. mortgage, car payment, etc). Who knows, it's very creepy in general.

What happens if you lie about your income?

@arsenal0095

11 ай бұрын

If later on there is an investigation, you may be charged for fraud.

@dl1083

11 ай бұрын

@@arsenal0095 OOooh, we're so scared.

@kenc2257

11 ай бұрын

If it's just a routine bank/credit card query, then nothing. However, if it's on an official loan application, where your signature verifies the accuracy of your financial disclosures, then you could face legal consequences.

@angelinimartini

11 ай бұрын

I know that with Amex they could potentially take away your cards. They do assessments every so often for some people and require proof of income.

I have an 830 FICO score. That’s all they need to know

Is this targeted towards certain people? We make a decent amount as a married couple and haven't had any requests from any of our banks or credit cards. We bought a home in the last 2 years (have a mortgage), but other than that, no request to update/restate our income - which has steadily increased. 3 years ago I updated our salary info on our primary credit card to increase our spending limit... still no emails/calls/messages from others. Also, Imani says that these questions are not new, but she also states that they are up 500%... so who are getting all of these requests?

It's all about them trying to get you in more debt. THAT'S IT !

If my credit score has consistently been top tier for DECADES,and I've not missed a payment on any bill of any kind in...oh.... say 40+ years..... that ought to be sufficient. My credit score being elevated from 835 to 840 by telling them my income.... not worth my time and effort.

It is understandable for banks to ask for your annual income if you are applying for a loan. But, if they want to raise the limit on my credit card, then they can do so just by checking the amount of time I have been doing business with them along with always paying more than the minimum payment and never being late with a payment. Also, by checking my credit rating. All should be satisfactory info for raising my credit limit. Especially if I did not request an increase in my limit. As far as lowering my limit for not cooperating, then they will lose my business forever. There are plenty of institutions looking for your money out there to go to.

And how do they know if you are reporting more than what you make?

I no longer use banking services nor do I use credit cards.

I am retired and live off a fixed income (SS). The credit card issuers always ask me my annual income but I never reply. They tell me they can increase my credit limits only with current income information. I say I have enough credit and have even had my limit halved with one issuer but I never come close to topping it off so, OK.

My amex always asks me to provide my salary. And I always click decline.

Was this about banks or credit card issuers... Because mine are not the same

Thumb nail is mis spelled

The Collapse of these banks has torn into global market , I was really hopeful of my investments this year, but all my plans have been disoriented, I've been studying the market crashes and I realized some investors made millions from the recent recession and I was wondering if such success rate could be achieved in this present market. I'm open to ideas about investing for retirement.

@lucyAngletont

11 ай бұрын

Yes, If you go long against the market you'd make such success.

@RandyPelletier

11 ай бұрын

I feel exceptionally lucky I started investing in my early 40s and compounded my income to create more cash flow. I opted for a more aggressive approach and so far I've made over $350k in raw profits from just q1 of 2023 from mainly blue chip stocks, precious metals, S&P500, coins and high yield dividend funds. I'm forever grateful to Trisha Jean Webb my F.A... Now house and cars all paid off and no other debt.

@craigrussell2045

11 ай бұрын

@@RandyPelletier Did a quick web search, she has a pretty decent bio, I wrote her and I'm waiting on her reply.

@StealthyDead

11 ай бұрын

Spam bot

The title seems kind of misleading to me. When i think of banks. Im thinking checking, savings, personal loans, auto, mortgage. This whole piece seems to be on credit cards and lines of credit. I still don’t understand why my bank is asking me to update my income when it’s deposited into my checking account twice a month. You would think they would have a good idea what i make and spend, as well as what i have saved in my saving account. It seems they would have a good idea of the risks associated with loaning me money. Shouldn’t this be titled “why credit card companies what you to update your income”?

Title is misleading. This is not about your regular bank, this is about other banks you have credit cards through.

I assumed the bank could see my entire bank statement

Was excited to update my income recently now that my girlfriend and I share a joint savings (passing the reasonable access test in my view). My credit score is maxed so any additional credit limit increases are just gravy!

@wan3416

11 ай бұрын

Is it a joyous occasion to bless these banks with debt interest? Are you working for yourself, or are you working to keep your slavers satiated?

@TomMcMorrow

11 ай бұрын

@@wan3416 You misunderstand friend, I have never paid a penny in interest to anybody in my life.

In India, banks want to know your salary so that they can call you to offer loans

Credit card or should we call that debt card? So if i's not a debit card, it is debt card.

Dang I'd like some points for telling my income info

WSJ. To me nothing about continually wanting information about me get me concern because that more Info. Fraud can use against me in my life I might of watch too many scammed and fraud videos, but it is all so scary to have way too much info. about me flowing around. Does other people think this way? or is it just me?. Thanks for video.

"it's a completely voluntary request" but then "they ... may close an account entirely if you don't provide updated information". Ohhhkay.

I tell my bank I only make $1.00 and everything else is pure profit!!!😂😂🤣🤣🤣

My bank plays with me . . .i move my money. Did you hear that Wells Fargo? You see what happens when you play with people's money!?

“Do banks need to know you income”

@emeraldbonsai

11 ай бұрын

NO ITS VOLUNTARY AS SAID IN THE VIDEO

@djones6211

11 ай бұрын

Been up for almost an hour with that error. Embarrassing...

@DrChubbsify

11 ай бұрын

@@djones62115 bucks this is marketing at this point for wsj

@angelinimartini

11 ай бұрын

😂

Don't give it to them

Exactly why I want to keep the bank in the dark

Every 2 weeks a paycheck gets deposited into my bank account for the exact same amount. How tf do they not know how much money I make?

If you want a credit card or line ok but just to have an bank account it's none of their business.

If you have direct deposit they already know

@davidw2739

11 ай бұрын

They have no idea how much your withholdings are.

@Baserunner20000

11 ай бұрын

I use 3 banks for my direct deposit. One for checking, one for high yield saving account, and one for my parents to hep them with bills

Which bank does this lady work for?

If you report your own income, you might as well put the bar code on yourself. We live in a wild time founding fathers would be rolling right now.

Public they salary of every high level executive in the bank first.

she's not quite telling the truth, having a high credit line with low utilization does not increase your credit score unless you previously had very high utilization. if your credit spending remains the same but your credit line keeps going up, your score will dip, and im speaking from experience. they are trying to incentivize you to incur more and more debt. risk assessment also is not the only or even main reason banks want personal info that they previously had no urgency in asking. banks simply asking this info is different than them literally spamming your mail with monthly letters even if you decline to share the info.

This information is going to the irs so you can be sqeezed as hard as possible.

alot of red flags here!!!

I wonder.

oh no!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

"They're going to want more of your business" - Correction - They want to pillage more of your hard-earned money.

They have a good idea, they can easily determine a good range based on paycheck deposit and annual IRS payment around April. lol. Their request for salary is also a big range, so it's seems like a lazy way of doing things where they could have done it by a good query but refused to do so. it's obviously not a big problem when sharing salary, the bank asks that information when you log in. The thing is you have to provide this information when you're looking for a loan anyway.

To me credit card is different from bank. Don't have credit cards and never had bank ask anything. Credit card companies arean evil to avoid

4:42 so we can just lie?

i used to work at a bank then i lost interest

Infomercial for corporate intrusions into privacy

It's as simple as this, the Patriot Act outlines that banks are required to Know Your Customer (KYC); therefore, the Salary question is required through that regulation. It's not just about cross selling products.

@mohamedsaid9416

11 ай бұрын

Why didn’t the video mention it?

@jayr6637

11 ай бұрын

You've shown ID when opening an account, so the bank already knows who you are. There is no regulation requiring you to regularly share salary info if all you have is a regular checking/savings account!

@bill33371

11 ай бұрын

​@@mohamedsaid9416 The video probably wouldn't have been as engaging. Additionally, the interviewee covers personal finance not banking regulations and compliance.

@u200716221

3 ай бұрын

You are right it is just a regulatory requirement. But It is not about KYC. It is the ability to pay regulation requirement in the Cards Act.

I'm calling BS. Credit card companies make money on fees, and when people can't pay.

If my creditcard provider gives me a hier cash-back rate than I'll give them my income information.

I don’t think it’s anyone’s business how much money I make

Americans nowadays are perfectly fine with Banks knowing all about them, or any government or authority knowing all about their personal lives. Thats great 🤡

@tdgdbs1

11 ай бұрын

No, only Democrats.

US bank stole 5000 dollars from me

I always lie about my income so I can get higher credit lines

I’ma let you finish, but Taylor Swift had one of the best albums of all time

Most banks are insolvent and they want rich and wealthy clients to fool around with their wealth