Financial Institutions Hidden Backdoor Policies

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There are slogans like “banking made simple, what is in your wallet, or trust us, and we will help you”. But what happens when those avenues are not there to help you? Financial institutions have good ways of doing business and bad ways of not doing business for certain people. These backdoor policies are methods banks use to circumvent standard regulations or controls. These policies can involve hidden fees or charges not disclosed to the customers.

Banks may use complex financial instruments to obscure risk levels. They have also been shown to be determined by several factors, including race, sex, and ethnicity. This leads to ethical concerns and potential legal repercussions. Tune into this episode and listen to see how to protect yourself and your business if you need to.