What is the root of Carolla's grudge with Gavin Newsom?

When Gavin Newsom made the claim that large number of households (Newsome claimed largely disproportionately minority households) are unable to open bank accounts it was the first time I've ever head of the issue. I did very quick google searches and his claims are not that exaggerated. Article from 2012

http://money.cnn.com/2012/09/12/pf/fdic-bank-accounts/

"About 8.2% of U.S. households, or nearly 10 million, lack a bank account, according to survey results released Wednesday by the Federal Deposit Insurance Corporation. That's up from 7.7%, or about 9 million households, in 2009."

"Most commonly, households reported that they don't have a bank account because they don't have enough money to open and fund one, with 33% of respondents saying this is the case."

" said that checking accounts can be costly for some consumers -- especially for those living paycheck-to-paycheck who can't meet minimum balance requirements and get hit with fees or those who are chronic overdrafters"

"And if you have a tendency to overdraft accounts and fees are $35 a pop, that's really going to prompt you to not open an account."

"Another 6.6% say they can't open an account because they lack required identification or have a negative banking history or credit profile. And 6.4% report that they previously had an account but the bank closed it -- often due to overdrafts or bounced checks -- meaning that they may have a hard time opening another account in the future."

"Over the last year, a quarter of households have used at least one form of alternative financial service like a money order, check cashing service, tax refund anticipation loan, pawn shop, money-transfer service or payday loan. And about 12% of households have used one of these products in the past 30 days."

"Minority, unemployed, young and lower-income households tend to be the least likely to have bank accounts. Compared to the 8.2% unbanked rate among all households, 21% of blacks are unbanked, as well as 22% of foreign-born non-citizens, nearly 23% of households with unemployed members and 28% of households earning less than $15,000."

"Altogether, more than one in four U.S. households, or 28.3%, are either unbanked or underbanked."

Gavin Newsom brought up an issue he thought was important on ACS and Adam reacted as if Gavin Newsom just made up and created the issue to score points with minority voters. Here is an older article from 2009 talking about the issues. The information may be dated by it provides context to the issue.

http://www.cleveland.com/business/index.ssf/2009/12/poor_minorities_struggle_to_ac.html

/r/AdamCarolla Thread Parent