Tough Love from Banks

I must admit I am hard on banks.  I do not object to their mission of making their shareholders as wealthy as possible.  They do this in a variety of ways; for example, by lending us money and charging interest.

One aspect that does bother me about the banks is their faulty advertising.  They often promise to help small business owner; yet, I sure get a lot of people in my office who have been shut off by banks, and are looking for answers and results.

Basically, if a person gets in any trouble with the bank—lose a job, miss payments, rack up massive student loan debt, max out credit cards—there is no mercy.  This is where I believe the “tough love” comes in.  A bank will lend and lend, and promote their status to be all about helping people with their money, but if something unforeseen happens and your payment is affected, the banks don’t really care. 

If you can’t make a payment, the bank will shut you down, it is not their problem:  No payment, no money, and no relief— now that’s tough love.