Elizabeth Warren drags Chase Bank for telling customers to stop being poor

elizabeth warren sg
“Fake Indian” Elizabeth Warren blasted Chase Bank for its hollow get-rich-quick advice to customers. (file photo)

There’s an adage that “even a blind squirrel occasionally finds a nut.” Such was the case this week for Democratic presidential candidate Elizabeth Warren, who slammed Chase Bank for an insensitive tweet basically telling poor people to stop being poor.

The brouhaha erupted after Chase blithely tweeted the following:

  • You: Why is my balance so low?
  • Bank account: Make coffee at home.
  • Bank account: Eat the food that’s already in the fridge.
  • Bank account: You don’t need a cab, it’s only three blocks.
  • You: I guess we’ll never know.
  • Bank account: Seriously?

Senator Warren fired back with the following snarky take-down:

  • Chase: Why aren’t customers saving money?
  • Taxpayers: We lost our jobs/homes/savings but gave you a $25 billion bailout
  • Workers: Employers don’t pay living wages
  • Economists: Rising costs + stagnant wages = 0 savings
  • Chase: Guess we’ll never know
  • Everyone: Seriously?

Taxpayers to Chase Bank: Where’s Our Bailout?

Immediately after posting that tweet, Chase Bank was torched on Twitter by people who criticized the “advice” as insensitive and tone-deaf.

Many accused Chase of blaming poor people for being poor, and suggesting that not buying an overpriced Starbucks drink every morning would solve all their financial problems.

This hypocrisy is especially deafening since $12 billion in taxpayer money was used to bail out the crooked, failing banking industry in 2008 to avert a total collapse of the U.S. financial system.

So the government bailed out fat-cat Wall Street banks because they were unable to manage their own money (which was really their clients’ money). But Chase Bank think it’s in a position to lecture its customers about how making coffee at home will make them rich.

One person asked: “How about making you repay taxpayers the $12 billion we used to bail you out?”

Another chimed in: “Rich coming from a company that benefited from a $12 billion bailout financed by those same poor ppl.”

Three hours after it tweeted that post, Chase Bank deleted it after being dragged on social media.

Reminder: Democratic Party Gave Banks Billions for Bailout

Others pointed out Elizabeth Warren’s total hypocrisy, since it was the Democratic Party that supported the taxpayer-funded bailout of Wall Street investment banks.

“It was Her Dem Party who helped bail out those banks with taxpayer $!! It was her party who keeps pushing taxes higher! Her party who costs jobs by forcing min wage hikes! Her party who LOVES parenting Americans!! Now She’s upset Cause a Bank is acting like a Dem Busy body??!”

One Twitter user says she’s still shaking her head over Warren’s inane tweet.

Irony Alert: Crooked Banks Giving Financial Advice

For the record, not many appeared to take issue with the money-saving tips, since some of them made sense. It was the hypocrisy of the “financial advice” coming from a shady, reckless bank that annoyed everyone.

In November 2018, a group of customers filed a class action lawsuit against Chase Bank’s parent company, JPMorgan Chase, for allegedly selling the personal information customers gave the banks when they applied for a credit card.

This private information included names, addresses, Social Security numbers, credit history, and bank account details. In the complaint, the bank customers alleged:

“[The banks] regularly enter into agreements with third parties to provide this [PFI: personal financial information] in exchange for money and other financial benefit. Under these agreements, Defendants have profited greatly from the sale of Plaintiffs’ PFI to third parties…without the user’s permission and without sharing part of that profit with the credit card holder.”

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Samantha Chang

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