[MichaelCorleone]

And to top it off he’s a MARINE.

Officer Lynn puts his life on the line for this country and this is how he’s paid back?

[bjc]

I do not agree with the strategy, but I am not sure I would go to bat for a payday lender even if the owner was a Marine without assessing the fairness and appropriateness of their business practices.

[Steve_Seattle]

The article makes no mention of any problems with the company's accounts - e.g., overdrafts, bounced checks - nor do the letters from the banks make any specific mention of such issues.

So do we have a case of the federal government putting the squeeze on banks to refuse to deal with businesses with which the government has an ideological beef? The implications of THAT are absolutely devastating. What next? The government getting banks to refuse accounts for Hobby Lobby or Chik-Fil-A or Fox News? Where does this fascism stop?

[SuperLuminal]

Bookmark for later

[eyeamok]

Start bribing/lobbying your State Legislature to have their Corporate Charter Revoked for unethical behavior. The STATE ALONE has this Power, they used to wield it.

[centurion316]

Payday loan operations typically charge outrageous interest and practice other predatory business practices. But, these problem ought to be handled by state government and ought to be done by legislation action, not by some arbitrary decision by the federal government.

They are going after the payday operations and gun stores right now, who will they decide to go after next. When government acts outside the law, then we no longer have a society of law.

[fini]

I have an acquaintance who owns a payday loan business. Basically, he is a lender of last resort. He charges a lot of interest, but he also has a lot of losses and fraud. To keep the fraud down, he gives discounts to repeat business.

He says he'll never get rich, but he can pay his bills and makes loans to people that otherwise wouldn't get a loan.

He also said that the meltdown in 2007-2008 almost put him under because so many people lost their jobs and had no expectation of getting a new job. People that he dealt with for years just disappeared.

[PieterCasparzen]

Great post 2dv. Got to keep at it, never stop.