this post was submitted on 11 Dec 2023
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$5k definitely helps people, it lets you catch up on bills, treat yourself a little and be able to enjoy life for a bit. But in this show it felt like medieval royalty throwing a few copper to the peasants on the streets and they literally said it was a once in a lifetime thing for these people. It was downright depressing that Americans live like this.
Wells Fargo, Bank of America, US Bank really take advantage of financial illiteracy, Wells Fargo especially. In my experience if someone is having weird financial problems or is being foreclosed there is a high chance they use Wells Fargo. The banks know that even though changing banks takes minutes, the people they're screwing don't know it and don't know other places are better. Same with saving in a .10% savings account.