Yep

Agree

thats how it should be but in real life its not going to work.... when they are together you cant do anything. unfortunately in sweden you even have to give where you work too (Länsförsäkringar bank) has that. all the bank forces you to fill....so many things.

If someone asks too many questions when i'm trying to get a loan, I might tell them they gotta pay for that.

Nonsense. Try actually living in that kind of world where the banks are not allowed to monetize your private data and you’ll find yourself without credit, without a mortgage, without a house, without a car, without much of a future. That’s the hard reality. Credit has powered the expansion of the world economy and given you the quality of life and lifestyle that you and billions of others enjoy. You may say you’re ok giving all that up but most will not.

Well you need enough income to pay off the debt they sell you.

It is one of the reason you are a former banker.

@@x-men69-96understatement!

Interesting

@@DreamSequia who the average consumer? Hardly. That’s a rich person’s game. And despite the Rich Dad books that man has sold, _few_ people are leveraging debt in a way to gain wealth.

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Over the years, I have learnt not to trust corporations. I was badly hit by the '08 financial crisis. Since 2019, I've just been focused on investing through a financial advisor and it has been paying off. No major loss has ever been recorded since 2019 i started. I'm never going back to banks full time.

@@LionTowercoporation this is huge! think you can point me towards the direction of your advisor? been looking at advisory management myself.. seeking ways to invest and make more money with the uncertainty in the economy

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@@LionTowercoporation Thank you. I will search on her site online and do my due diligence. If She seem proficient. I write her an email and scheduled a phone call.

❤️ this comment

I'd say there was a level of naivete evident in this report. That reporter needs to start traveling with salt in their pockets so they can take a grain when they're interviewing.

I'm going to go off a limb here... I'm picking up some sarcasm here

I have learned to not trust corporations. I was badly hit by the '08 financial crisis. Since 2019, I've just been focused on investing through a financial advisor, and it has been paying off, and I'm never going back to banks full time.

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@@tatianastarcic How can i reach her, because I’m seeking for a more effective investment approach on my saving.

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Any examples of these illegal questions so I'll know them when I see/hear them?

@@Theomite Any questions about you finances, 'where else do you bank', ' do you have a mortgage, stocks or other assets', 'what is your income,spouses income', etc. If applying for a loan or mortgage, some of these questions are relevant, but not when opening an account, or depositing or buying a term deposit. Also, when you give your money to a bank, it becomes THEIR property. There is no guarantee they HAVE to return it.

@@Theomite Banks are the same as transacting with your neighbour, most information you give, or assets you hand over the fence, is no longer yours. Banks do not ACT in your benefit, they just want your stuff, so they can make money.

@@ya472 ...say that last part again?

@@Theomite Just research stuff you do not have to share. Nosey Banks are like nosey neighbours.

Ding ding ding!!! We have the right answer!

✅✅✅

True. My bank started charging me monthly fee and I was told it was the lowest I could get. Then had a teller inform me that if I kept a minimum of $100 a month in the account I could have no mo. fee. My minimum mo balance is $1K+

In poker, you are required to reveal all the chips you hold.

...Easier said than done. what are the other options

Sorry to jump in, but there a lot; gold, stocks, stable businesses etc. I know this cos personally I made my first million late last year from stocks and bonds which I have used to set up and put into the other things. The only downside is that you could also lose your funds which is easily remedied by using a professional or making very thorough inquiries. Good luck.

@@titanjack3118 ...wow I know this hilarious man. Once attended a fundraiser he was also in attendance here in Vancouver,, Great speaker with a funny accent,, He's in the States though, I doubt he works with non residents,,,

This entire conversation feels fake.

@@AdverseOpinionit is, of course

lol!😄

I’d delete this comment.. lol

Maybe he’s telling the truth 😆

@@austinip5273 I don’t think he’d phrase it that way…

That's fraud...and illegal

That's illegal

Time and tide will not wait for any person. That means we must pay attention to how new technologies, and specifically AI, will make it easier for companies to become more efficient. Simply, this companies may not need a lot of workers, your bank may not need many staff. Your insurer may not need many workers. And the list keeps growing.

It has nothing to do with AI. Economic distress in America is enormous. Many banks have gone under. Inflation is biting harder. Ukrain miscalculation is obvious. Facebook has been using AI in most of its features and products for more than 15 years now, so Ai has nothing to do with it. They embarked on unprofitable projects. And over hired. Apple has never laid off employees despite the economic downturn. They did well in hiring and never had failed projects. Metaverse failed. Gaming projects failed. Fintech, Lira failed. In the last 20 months, Sanbberg left, nobody is there to "tame the lion" Most Tech companies went woke: hired talents in order to prevent competitors from having access, they kept them idle, just to hijack a pool of talent. Over hired without proper assessment and protection. The existing projects couldn't turn in expected revenue, even before inflation war in USA set it. Let's put it in perspective without blaming AI. 95% of big tech have been using AI in the last 15 years. Building a passive income is a real hedge against inflation. Such is a thing that won't fail when the govt and the big tech fails.

Is it time to require mandatory payment where even if you have no staff, you have to commit a certain percentage of your revenue which will be used to distribute to citizens as a "wage" alternative?

@@CurateHub I wish I could tackle your submission but I already threw in the towel before I read the last line. I give it to you on this. I'm very interested in building a passive income but it seems like I will need a lot of coaching as I do not posses the required expertise. You on the other hand seem very well knowledgeable in that field, can you give out some tips on getting started with passive income or can you recommend a personal financial coach?

@@VitaliiSych focus on acquiring a trusted advisor who can guide you. With their assistance, you can engage in trading and generate profits in stock and cryptocurrency markets, even if you lack prior knowledge. Consider reaching out to Elizabeth Puckett Hunter through any of her online medium

In the US many people divide their direct deposit across 2 or more banks, and pre-allocate some of it to retirement savings and tax-free healthcare funds.

So your primary bank might only be getting 30% of your actual income deposited.

Yeah, so only about half of my taxable (W-2) income goes into my bank. It has federal taxes, state taxes, 401k contributions, after-tax 401k contributions (mega back door), some people might have roth, etc. Also about half my compensation is in the form of company stock. I also pre-pay extra federal taxes to avoid a huge tax bill at the end of the year. So the bank sees money come in, but they really only see about half or less.

Yes but credit card companies can't do that because a lot of people don't bank with them or they aren't banking institutions. They only see what you spend and what your credit report tells them about your other debts and ability to service those debts.

Well if you fundamentally knew how banks make their money you’d understand that the credit score system is simply a tool of self preservation for the banks.

its circular youre right. penalize you if you dont have credit but also if you do

Step 1: Get the biggest loan you qualify for. Step 2: default on it. 😎

​@@ConsensusXlol why

@@Afroninja2025 Because the U.S. government does it. Oh wait... they just raise the limit every time 🥴

Not really, all they know is you get some money deposited. They don't know your year-end bonus or the money that gets diverted somewhere else or your tax payments. Also that's only true for your main deposit bank not any other banks you don't hold deposits with.

NO ITS VOLUNTARY AS SAID IN THE VIDEO

Been up for almost an hour with that error. Embarrassing...

@@djones62115 bucks this is marketing at this point for wsj

😂

If later on there is an investigation, you may be charged for fraud.

@@arsenal0095 OOooh, we're so scared.

If it's just a routine bank/credit card query, then nothing. However, if it's on an official loan application, where your signature verifies the accuracy of your financial disclosures, then you could face legal consequences.

I know that with Amex they could potentially take away your cards. They do assessments every so often for some people and require proof of income.

Good point, but the amount could be different if you have other outflows happening before your check hits the bank: like retirement savings, HSA, etc. They usually ask for gross income, so the bank deposit might be just a fraction of total pay.

@@AkweliParker also a good point, but you can still figure it out based on time and now AI... you can see the deposit and then you can see all withdraws, so you can categorize them (e.g. mortgage, car payment, etc). Who knows, it's very creepy in general.

@@wisewidower6655 Yes, VPN is available here.

Is it a joyous occasion to bless these banks with debt interest? Are you working for yourself, or are you working to keep your slavers satiated?

@@wan3416 You misunderstand friend, I have never paid a penny in interest to anybody in my life.

Yes, If you go long against the market you'd make such success.

I feel exceptionally lucky I started investing in my early 40s and compounded my income to create more cash flow. I opted for a more aggressive approach and so far I've made over $350k in raw profits from just q1 of 2023 from mainly blue chip stocks, precious metals, S&P500, coins and high yield dividend funds. I'm forever grateful to Trisha Jean Webb my F.A... Now house and cars all paid off and no other debt.

@@RandyPelletier Did a quick web search, she has a pretty decent bio, I wrote her and I'm waiting on her reply.

Spam bot

They have no idea how much your withholdings are.

I use 3 banks for my direct deposit. One for checking, one for high yield saving account, and one for my parents to hep them with bills

Why didn’t the video mention it?

You've shown ID when opening an account, so the bank already knows who you are. There is no regulation requiring you to regularly share salary info if all you have is a regular checking/savings account!

​@@mohamedsaid9416 The video probably wouldn't have been as engaging. Additionally, the interviewee covers personal finance not banking regulations and compliance.

You are right it is just a regulatory requirement. But It is not about KYC. It is the ability to pay regulation requirement in the Cards Act.

No, only Democrats.