Special Episode of Buy The Bay - introducing a new podcast from Lend An Ear Media - the "10 Key Podcast". Join hosts, Dan Ancheta, Matt Larrabure, and Ramsay Brown to discuss personal finance, economic, and social issues in the context of three guys that work in difference finance displines.
In this pilot episode of the 10 Key Podcast, we discuss the dark side of banking, including the use of incentives to drive sales, overdraft fees, and the fine print that consumers often overlook. We also explore the recent fines levied against Bank of America and Wells Fargo, and whether or not these fines will actually change the behavior of big banks.
Chapters:
- Host Introduction and Background
- The Use of Sales Incentives in Banking
- Overdraft Fees and Double Charging
- The Impact of Bank Fees on Low-Income Communities
- The Recent Fines Against Bank of America and Wells Fargo
- The Role of Regulations and Corporate Responsibility
- The Importance of Financial Education for Consumers
- Conclusion
Interesting things mentioned:
- The use of incentives to drive sales in banking, and the harm it can cause to consumers.
- The impact of overdraft fees and double charging on low-income communities.
- The recent fines against Bank of America and Wells Fargo, and whether or not they will actually change the behavior of big banks.
- The role of regulations and corporate responsibility in the banking industry.
- The importance of financial education for consumers to better understand banking practices.
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