I Worked at Capital One for Five Years. This Is How We Justified Piling Debt on Poor Customers.

I Worked at Capital One for Five Years. This Is How We Justified Piling Debt on Poor Customers.

11/23/2019

link

https://newrepublic.com/article/155212/worked-capital-one-five-years-justified-piling-debt-poor-customers

summary

This article shares the personal experience of the author, who worked for Capital One for five years and reflects on the company's practices of targeting and extending credit to financially vulnerable customers. The author discusses the pressure within the company to drive profits through credit card sales and the strategies used to justify lending to individuals with low credit scores. The article raises concerns about the ethics of such practices and argues that the focus on profit can sometimes override considerations for the well-being of customers. It provides insight into the inner workings of the credit card industry and encourages readers to critically examine the consequences of lending practices on individuals and society.

tags

personal finance ꞏ debt management ꞏ financial struggles ꞏ credit cards ꞏ consumer loans ꞏ financial hardship ꞏ financial services ꞏ predatory lending ꞏ poverty ꞏ inequality ꞏ working class ꞏ financial industry ꞏ banking ꞏ credit score ꞏ creditworthiness ꞏ subprime lending ꞏ consumer protection ꞏ financial responsibility ꞏ financial literacy ꞏ economic inequality ꞏ debt burden ꞏ consumer rights ꞏ financial system ꞏ financial stability ꞏ financial education ꞏ financial management ꞏ consumer debt ꞏ poverty alleviation ꞏ social class ꞏ economic justice ꞏ financial ethics ꞏ financial difficulties ꞏ economic mobility ꞏ financial inclusion ꞏ creditworthiness discrimination ꞏ financial regulation ꞏ income inequality ꞏ socioeconomic status ꞏ economic empowerment ꞏ loan industry ꞏ debt trap ꞏ socio-economic issues ꞏ debt crisis ꞏ financial policies ꞏ debt consolidation