I hope this plays out better than the Rush Card. Applications mean nothing to me I need to see real data on reasonable lending practices and number of loan funding to certain age/income demographics.
well rush card (like all prepaid debit cards) were for people on the margins who can't even open a bank account. different type of consumer altogether. anyway you're right that applications don't matter, it's the number of people opening accounts that matter and i think the min deposit to open an account is $100. deposits is what they use to invest so we'll see how they do that.
but a bank regardless of race will have lending standards. i don't want a bank that i have money in lending to people with a 500 credit score. a good credit score is reflective of responsible financial decision making and i don't know an irresponsible person who will do good with a personal or business loan. all the depositors suffer when a bank makes too many bad loans. if you're young with no credit history and no job history, but you think you have a great business idea, i'm sorry to say but a bank is never going to lend you money. you better pray for family and angel investment.