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Chase yanks tweet offering advice on how to save money
By Danielle Wallace
Published April 30, 2019
FILE: Chase bank location in Philadelphia. (AP Photo/Matt Rourke, File)
Move over avocado toast.
Chase bank was blasted on Twitter Monday following a #MotivationalMonday tweet that offered suggestions on how those struggling could save money, such as make your coffee at home, eat food in the fridge and take a cab when you can.
It was written as a back-and-forth between a customer and their bank account but was quickly criticized as being tone-deaf and out-of-touch. Critics claimed the tweet was guilty of "poor-shaming."
Three hours after the tweet was posted, it was removed.
Chase released a follow-up statement later Monday, writing, "Our #MondayMotivation is to get better at #MondayMotivation tweets. Thanks for the feedback Twitter world." The bank did not immediately respond to an email from Fox News.
Among the bank’s most noteworthy critics was Sen. Elizabeth Warren, D-Mass., a frequent critic of banks.
Warren pointed out that Chase’s parent company, JPMorgan Chase, received a $25 million taxpayer bailout during the 2008 financial crisis as many Americans "lost their jobs, homes and savings."
"Rising costs + stagnant wages = 0 savings," Warren wrote.
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While the online reaction was mostly negative, some Twitter users agreed with Chase’s suggestion to be more mindful of spending habits.
"Chase was right, it was a good tweet, and the people who were offended probably saw themselves in it," tweeted Tom Nichols, a professor at the U.S. Naval War College.
Financial expert Dave Ramsey told NBC News that he doesn’t agree with all of Chase’s practices but the Tweet had some merit.
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“No one should ever shame someone for being poor,” Ramsey said. “But all of us should be open to having our bad habits called out so we can live better lives."
https://www.foxnews.com/us/elizabeth-warren-slams-chase-for-telling-account-holders-to-just-make-coffee-at-home-to-save-money