Bank Rescinds a Job Offer Because It Had Cancelled the Candidate's Credit Cards | Hacker News Reader

Bank Rescinds a Job Offer Because It Had Cancelled the Candidate's Credit Cards

nytimes.com

40 pointsWowfunhappy20 comments

1. He had a job with Chase in wealth management where the bank claims it didn’t properly vet him at the time.

2. He wasn’t able to keep the job after failing necessary licensure exams.

3. He applied for a low-six-figure salary marketing job and was accepted. They later rescinded the offer because they had canceled his business-related card ~8 years prior for, allegedly, not properly disclosing the nature of his business—something the bank will not clarify further, now, nor offered any reason for at the time—of which this guy didn’t push them on either.

4. The article states employment is not required by the bank and they may rescind offers or refuse to make offers for any reason.

5. The guy is pissed off that because the bank canceled his business credit card that he apparently used primarily for $1MM in flights to Middle Eastern countries he is not able to work for the company now.

> for, allegedly, not properly disclosing the nature of his business—something the bank will not clarify further, now, nor offered any reason for at the time—of which this guy didn’t push them on either.

This is basic KYC (know your customer) stuff: if you see red flags, you are not allowed to tip the customer. If you do that you may end up in jail.

It may feel unfair, but that's the law.

I wonder why it's being framed the way it is by nytimes...

It's definitely a little alarming when institutions start blurring the boundaries between the different sets of metrics by which we are judged for basic life necessities like a job and a bank account. I think for a lot of people it would be catastrophic in various ways if those were effectively collapsed into some kind of unified social credit score.

To be fair this doesn’t seem to be a case of that.

They applied to a job they were not licensed to perform.

Then got a job with lesser requirements and failed a validation check.

The use of the corporate card sounds to be quite dodgy to say the least, I’m pretty sure that the offer was rescinded not because the CC was cancelled but why it was cancelled in the first place.

JP Morgan Chase

https://archive.today/GGoji

There’s no context given by the article and that may be the point but so little info is given about the exportation of high value electronics to Middle East during the Afghanistan war it’s hard to take anything at face value.

Did jpm have to give any reason at all here or could they just have broadly said the background check failed?

A job offer can be rescinded without reason given.

That said, if they know they don't like me, for no reason, I'd rather they rescind before starting than let me get comfortable and then decide to PIP me.

How lovely for the employing class. Sounds like we need a law to require justification for withdrawing a job offer.

Well, then, there could also be a law to require laborers to require legal justification for quitting, no-show, ghosting, etc.

There could be all kinds of laws. But wouldn't it be odd if the laws primarily benefited a minuscule number of people at the expense of hundreds of millions of other people? That would be pretty fucked up, right?

Asymmetric positions

Yes but that (should? used to?) come with a significant reputational hit for the company.

JPMC is not at the size where these hits matter. You should think of it as basically a government entity often with more power than many other govt entities.

I can be, but that doesn't mean it isn't promissory estoppel

> nor must they explain themselves when they don’t hire someone or rescind an offer

Nor must I explain myself when I decide to boycott your business.

I contracted at a UK bank around 1999.

Didn't affect me but the permanent members of staff had to maintain an account with said bank. If they went over their overdraft, or had unpaid direct debits, it was flagged to their manager who took their card off them until it was settled.

The big issue with these stories is getting huge chunks of you personal life ripped out from under you, bank accounts (in this case -> job offers) without explanation.

There are so many ways this can happen to people, either by corporate discrimination or by getting caught in the legal system. Literally no one wants it to happen to them, yet we continue to exist under a set of laws that allow both the state and corporations to selectively destroy lives with little or no recourse for the victims.

Kind of a banking social credit score..

Reply on news.ycombinator.com