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And that's also why as long as Dick Durbin is in the Senate, the payday loan industry has no chance of being reined in, and will continue to be inundated with new customers courtesy of his fellow Democrats, as the WSJ pointed out earlier this year.
See why stupid regulatory policies allegedly aimed at 'helping' the middle and lower-class citizens of this country always turn out making things worse for them.
And some of you thought that Democrats were 'the party of the little guy'.
And that's also why as long as Dick Durbin is in the Senate, the payday loan industry has no chance of being reined in, and will continue to be inundated with new customers courtesy of his fellow Democrats, as the WSJ pointed out earlier this year.
See why stupid regulatory policies allegedly aimed at 'helping' the middle and lower-class citizens of this country always turn out making things worse for them.
And some of you thought that Democrats were 'the party of the little guy'.
Wrong again.
The party of big unions, big dollar unions. I honestly can't follow either of the two largest parties anymore.
So it's the Democrats or liberals fault your bank is charging you $5 but there's not a peep about the profits they make with fractional banking and charging interest on loans? You buy a $150,000 house and pay $300,000 for it and that's OK? Tell me when enough is enough. Are we supposed to just let the banks run amok and charge 1,800% interest?
In order for me to recoup the $60 in annual fees (12x5) for using a BofA debit card, I'd have to put about $100,000 in the bank. That's about how much interest I'd earn by saving with BofA. My account with them will be closing soon, but where else can I turn...? All the other big banks are horrible.
The article does not contain a link to the federal study, or even the name of the study. It just states a study. Sorry, I don't believe it when people say "Something says it" instead of actually referencing what they are using. Even the first three pages of Google are just people referencing this article, not the federal study.
Some banks are starting now others early next year. Who will be hit the hardest? Students who don't have a credit card, people who maxed out their credit card....
And all because the government is going hard after the banks and in the end the consumer is the one paying the fees!
Thanks Obama, Dodd, Frank! Another way of giving us a harder time.
Oh, please. The government isn't forcing any bank to charge any fee. Are you suddenly against private companies charging what the market will bear? Or do you just see a convenient opportunity to slam Democrats again?
I think we all know the answer to that one.
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The government isn't forcing any bank to charge any fee. Are you suddenly against private companies charging what the market will bear? Or do you just see a convenient opportunity to slam Democrats again? 
