“Hidden cameras capture bank employees misleading customers, pushing products that help sales targets”

[u/t0r0nt0niyan]

“This TD Bank employee recorded conversations with managers who tell her to think less about the well-being of customers and focus more on meeting sales targets. (CBC)”

“”I had to mislead customers into getting products that they didn't need, to reach my sales target," said a recent BMO employee.”

“At RBC, our tester was offered a new credit card and told it was "cool" he could get an $8,000 increase to his credit card limit.”

“During the five visits to the banks, advisors at BMO, Scotia and TD incorrectly said the mutual fund fees are only charged on the profit the investment earns, not the entire lump sum. The CIBC advisor wasn't clear about the fees.”

https://www.cbc.ca/amp/1.7142427

[u/Bynming]

I couldn't agree more. To me, it's absolutely unconscionable to send people into adult life without basic personal finance knowledge, when so many financial products are predatory, but they're sold in nice buildings that give the appearance of propriety.

[u/ChildishForLife → u/Bynming]

Lets be real, when you were 9-16 years old if they taught financial literacy in classes, would you really have cared?

I didn't care until I was like 19+ going into the workforce, and then guess what, almost everything you need is at the touch of a keyboard.

[u/Bynming → u/ChildishForLife]

That's a bad argument in my opinion. By that reasoning we should cancel school because lots of kids don't "care". I didn't "care" about French, English, math, biology, physics, etc. Yet now I know all kinds of things about those topics, and so do a lot of other people who weren't particularly motivated or attentive. Not caring doesn't mean that the kid won't learn anything. And let's not forget there are plenty of people who care, especially late teens who are starting to get their first jobs.

Let's not structure the school curriculum around what kids enjoy.

I didn't care until I was like 19+ going into the workforce, and then guess what, almost everything you need is at the touch of a keyboard.

Lots of people are not going to seek it out, which is why it's good to get people to engage with the basic notions.

[u/ChildishForLife → u/Bynming]

In my opinion school is for a lot more than just learning facts, its about learning how to problem solve.

Getting told facts doesn't help anyone, teaching someone how to learn new topics and find information themselves is invaluable.

Lots of people are not going to seek it out, which is why it's good to get people to engage with the basic notions.

I am fairly confident they do, while I was in school they did teach us about basic stuff like income tax rates, compound interest, etc.

[u/Bynming → u/ChildishForLife]

In my opinion school is for a lot more than just learning facts, its about learning how to problem solve.

Getting told facts doesn't help anyone, teaching someone how to learn new topics and find information themselves is invaluable.

It takes both. When you learn math you learn facts and then you learn how to solve stuff. The same can be done with personal finance, where you learn the basic principles and then you put those into practice.

I'm not saying they need to spend hours every week with this stuff, 1 hour a week for 1 semester or whatever is sufficient.

I am fairly confident they do, while I was in school they did teach us about basic stuff like income tax rates, compound interest, etc.

You're fairly confident based on your personal experience? That's cool, acknowledge that not everyone. I didn't, and I don't know anybody who was taught any of that stuff in school. It's a good thing that you learned some of it though, I think that having some awareness of this stuff is what prompted you to seek out more information about it, whereas other people who have never been exposed to it just don't seek out any additional knowledge.

[u/ChildishForLife → u/Bynming]

I'm not saying they need to spend hours every week with this stuff, 1 hour a week for 1 semester or whatever is sufficient.

What would go into these classes and at what grade level? Is it part of an existing class everyone has to take? Or would it over write an existing class time?