So, Frank Graham opened up this discussion. He is taking his millions ( Shepard's Purse and other church related funds) out of Wells Fargo bank and going elsewhere, because they ran an ad featuring a same sex couple.
PNC today announced they have a program to help the LGBT community. I am glad I do not bank with either bank. oh, not for the reasons you assume. The average LGBT person isn't ;t doing so well financially.They as a group have higher poverty rates than married/single heterosexuals.As a matter of fact, they fall more within the groups most ignored by banks..blacks, hispanics, and immigrants legal or illegal. .. http://www.usnews.com/news/articles/2013/06/06/study-poverty-rate-elevated-for-lgbt-community https://www.americanprogress.org/issues/lgbt/report/2009/07/01/6430/poverty-in-the-lgbt-community/ As banks have not been very inclusive of the other groups, with little outreach and allowing predatory lenders to own huge shares of mortgages in areas with many people of color- poor or not so poor...I have little hope that these banks will reach out to the LGBT people who are earning less than average...and actually help lift someone out of poverty, with a car loan at decent rates (compared to the eight to fourteen percent used car dealers tend to want) or owning their own home.I doubt that they will seek specific neighborhoods with infrastructure problems, no matter who lives there, and give building loans at competitive rates.I am not sure how difficult it is to get a joint account with a non spouse, but that is a problem for heterosexual couples as well (fifty percent do not marry). I have had joint accounts with other people and never had a problem.Not all banks are willing to have non related account holders. And at only five percent of the population (LGBT), small account holders cannot make up for one Franklin Graham. So the advertising is meaningless; few of the LGBT will be helped by these big announcements of inclusiveness.It is a crass manipulation of sentiment and media hype to try and entice more customers into the banks.They can cover up their real policies with a feel good moment. After all, they are in business to make money.I guess if they can entice a few LGBT business account owners into switching banks, or include their up to date policies in their portfolios, they think the advertising highly worthwhile.In the long run, they must obey all laws pertaining to their business enterprise, but have no actual stake in morality. Any stance they take on any group is suspect. And all the non LGBT wealthy-enough-to-have-a-phone-or-computer-and -be-plenty -of-free-time- to-post-to-Facebook crowd, can get their jollies patting themselves on the back with how "modern and progressive" they are. |
Faith and ReasonA grandma's perspective on a few things.. Archives
May 2020
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