BEING KICKED IN THE TEETH CAUSES CHAOS
9- As it turns out, the political party I spent my whole life supporting, allows banks to punish poor people with high interest rates and late fees, knowing in advance when giving the loans that their income level dictates/predicts that they will be late.
- The banks write the rules and congress passes them. Stick it to the poor.
- Thirty something dollars for an overdraft or late fee, then every day thereafter until it’s paid in full including all the late fees. No wonder so many poor people end up in bankruptcy court.
- Banks entice poor people to take out loans and apply for credit cards counting on their overdrafts and late fees. Why wouldn’t they? It’s guaranteed income. Poor people are big business.
- Banks charge poor people high interest rates using as an excuse that they’ll probably default on the loan or credit card and they need to make their money. But isn’t that what overdraft and late fees do?
- To be honest, overdraft and late fees probably amount to more than the interest on their balances every month. So they’re stealing based on a lie.
- Who checks anyway? No one. The system is rigged in the favor of banks, because they write the laws that exploit the poor and congress passes them.
- Putting poor people in those economic positions designed as OVERDRAFT AND LATE FEE PROGRAMS creates hardship in their lives which creates chaos.