Chase criticised for ‘mocking’ customers’ spending habits

Chase criticised for ‘mocking’ customers’ spending habits

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? #MondayMotivationImage copyright Twitter
Image caption Chase’s tweet about financial advice on Monday backfired

US bank Chase has been criticised on social media for sending a tweet ‘mocking’ customers’ spending habits.

Offering financial advice on Twitter, the bank appeared to chastise consumers who question their low bank balances but buy take-away coffee and short taxi rides.

The meme was deleted shortly after it was posted on Monday, but not before critics including high-profile lawmakers highlighted the bank’s own financial practices.

In 2008 Chase received a $25 billion government bailout in the US foreclosure crisis.

The meme suggested a conversation between a Chase customer and their account about a low bank balance.

When the hypothetical bank user fails to see that buying take-away coffee or taxi rides could be behind their drained finances, the ‘account’ replies “seriously?”

Many online took exception to the tone of the advice, including several high-profile politicians.

Democratic Congresswoman Katie Porter suggested that higher salaries would help workers save more, and she called on the bank’s chief executive to apologise.

When asked to explain how one of his bank’s starting employees could make ends meet, Jamie Dimon replied: “I don’t know, I’d have to think about that.”

Democratic Senator Elizabeth Warren, who is running for president in 2020, offered her own take on Chase’s meme by referring to low wages, rising costs, and the bank’s government bailout.

Leave a Reply

Your email address will not be published. Required fields are marked *