Usury is Alive and Well

March 11th, 2012

“You would think by now that banks and other financial institutions would have been chastened some by the scrutiny and criticism that they received during the near meltdown of the financial system in September 2008 and its aftermath. Judging by the aggressive path that some have adopted in the payday lending arena, I am sorry to report that some banks have quickly beaten a path back to their old behaviors. Constrained from many of the usual profit making services that were part of their pre-crisis business models, many have been looking at additional fees for such things as ATM withdrawals or late payments and other increased charges to make up the lost income.”