re: #1 Obdicut

You’ve been told that the 1% make money off of the other 1%. I just read that somewhere.

Fact is, banks have been losing customers to loan sharks, and those folks can’t get out of debt. Most of those products are closer to helping with money management.

Some banks, namely U.S. Bank, Regions Financial and Wells Fargo, are luring low-income consumers to sign up for things such as prepaid debit cards and payday loans-products that typically come with all sorts of fees and charges, the Times reports. Why are banks courting these customers with pricey products?

Products geared toward low-income consumers have typically been offered by payday loan companies and storefront lenders or even big retailers like Wal-Mart.

It would be nice to compare rates between these two sets of products, instead of the author simply asserting the fees are high, which is a relative term, and leads to the question of ‘compared to what?’