Big banks funded payday loan to rip people off

United States
September 19, 2010 10:33am CST
Can you believe we, taxpayers paying out our tax money to bail out those big banks, like Wells Fargo, JP morgan and chase, and the bank of America. Also, the Federal Reserve more than once to reduce the interest rate to merely 1% to help out those banks too. They turn around and use our money to funded those scumbag predators of payday loans. As you all knew, those payday loan services waiting to rip you off with their 300% to 500% interest rate on a small loan of $100 to $500. I mean, can you really believe such discovery on those big banks? They borrow money from Federal Reserve only with 1% interest rate, and charge people with more than 500% interest rate. That just not sound right. Why should we bail them out at the first place?
1 response
@SilverKing (1014)
• Canada
20 Sep 10
Totally with you on this subject and think that the government is allowing banks to control every facet of the way we exchange in this modern society.I think that banks have to much control over peoplees money and they are ripping people off almost on a daily basis.They encourage pay day loans and actually encourage people and even ask people to get credit cards and rack up a bunch of debt and spend money that they can't really afford.It sickens me to the core just thinking about it and hop something can be done.
• United States
20 Sep 10
It sicken me the most is that those banks not going to help people get out of their miserable debt situation. They just want you to get worse, so they can reap the most profits as they can. I had a credit card with Discover, they try every tactics to make me pay more. They sent out the bill on 14th of every month, and the due date is 15th. I have to suck up with the late fee they tried. I tried to talk to their operators, but no one can help me at all.
• United States
20 Sep 10
It sicken me the most is that those banks not going to help people get out of their miserable debt situation. They just want you to get worse, so they can reap the most profits as they can. I had a credit card with Discover, they try every tactics to make me pay more. They sent out the bill on 14th of every month, and the due date is 15th. I have to suck up with the late fee they tried. I tried to talk to their operators, but no one can help me at all.
• United States
20 Sep 10
It sicken me the most is that those banks not going to help people get out of their miserable debt situation. They just want you to get worse, so they can reap the most profits as they can. I had a credit card with Discover, they try every tactics to make me pay more. They sent out the bill on 14th of every month, and the due date is 15th. I have to suck up with the late fee they tried. I tried to talk to their operators, but no one can help me at all.