Play Myste For Me: Bank of America Check-Cashing Policies Impact Low-Income TNB Follower + BofA Payday Loans Revisited + Financial Literacy to Graduate?

<p>Great big podcast today:</p> <p><br></p> <p>First, I discuss an issue my follower and TNB listener Myste had with Bank of America and their new check cashing policy which went into effect in October. Basically, if you need to cash a check that's more than what you have in the bank, you will be forced to deposit it or go somewhere else.</p> <p>What if that deposit that they make you do impacts your housing, food stamps, health care or anything else? What if I said it wasn't income earned, but an insurance reimbursement check that is familiar to the customer? Well, it doesn't matter to BofA who referred their 12 year client to a seedy check cashing service instead of doing it themselves!</p> <p>I discuss the process and how Myste ended up reaching out to BofA who then slammed her down once more. Ugh. One of the few bad encounters TNB has had lately.</p> <p><a href="https://pasteboard.co/JR78ezRJ.jpg">Image of Flyer Bank of America hands out explaining their new "Don't cash checks for poor people" policy</a></p> <p><br></p> <p>Plus today, we revisit <a href="https://newsroom.bankofamerica.com/press-releases/bank-america-introduces-balance-assist-revolutionary-new-short-term-low-cost-loan">BofAs upcoming Payday-Loan style lending called "Balance Assist".</a> I discuss my recent convos with media types as I plan out a strategy to expose how this product is not consumer safe, as the rules lead to more overdrafts not on Bank payments, but on auto-pay type things like insurance, Netflix, etc.</p> <p>&nbsp;I discuss my history with them and how it impacts the Native American, Hispanic and Black communities immensely <br> <a href="https://promotions.bankofamerica.com/consumer/banking-solutions?cm_mmc=DEP-Checking-_-vanity-_-DC01VN007X_bankingsolutions-_-N/A#disclosure-306534756">(Site promoting the product... scroll to the bottom to read the insane fine print)</a></p> <p><br></p> <p>Plus I talk about a possible bill in the NM State House where the mom of an ex-girlfriend of mine is introducing a bill which will require