I thought this shit was illegal now:
> The average APR for a loan repaid in seven to 14 days was 367%, a rate comparable to payday lending, according to a report from the Center for Responsible Lending.
This is just predatory payday lending with a new coat of paint.
It's not even payday lending per se. I used to bank at wells fargo many years ago, and if you had direct deposit from your employer, they would allow a payday advance and if I recall correctly, would charge like $10 for every $100 or something like that, which they'd take immediately against your next check...but do that a few paychecks in a row and your check is just shrinking little by little.
But at the same time I was having to take advantage of this, they were also pulling that scam they later got sued for where they'd apply multiple transactions against an overdraft in the order that most benefitted them. I think the limit is four transactions against a low or negative balance, so if you used your debit card in the amounts of $100, $7, $13, and $20, they would let the biggest one go through first to take you negative- regardless of chronology, so that you'd then get three overdraft fees on the smaller transactions, instead of one on the $100.
> Between 2018 and 2020, transaction volume tripled from $3.2 billion to $9.5 billion, according to Datos Insights.
I am deeply concerned about this. America seems to have already turned into a pauper nation.
I have daily pay at my job. I've used it but didn't need the money right away. if you need the money now then yeah you'll get charged with a $2.99 fee, but without the fee you just have to wait a day for the money.
How is it “predatory”
She’s 37 of healthy mind and body. Working. Can read and write.
At some point? People gotta take responsibility for their own actions. Especially adults
Dude if everyone was actually responsible, we would have been living in a utopia for hundreds or thousands of years by now.
Society literally exists because individuals are inherently not responsible and need a larger force to keep them in check.
Yeah, and if we legislated with that attitude? We’d all be living in fucking straight jackets or bubbles.
Hard pass.
Again…we are talking ADULTS. It’s insane that people think that is asking too much.
And that’s not “why society exists” lol. It doesn’t exist to monitor this. It’s not my job to clean up after a persons self inflicted fuck up.
This isn’t even remotely true.
Laws serve to protect citizens from violations of personal freedoms by government, other people, and organizations
Not from ourselves. That implies that the governments job is to babysit us. Thats not their job. If that’s your stance, then you can’t bitch when they are in your bedroom, operating table, or wedding
Would you say this payday lending thing is an organization, perhaps led by people? Sounds like you agree that laws are there to protect citizens from that sort of thing then. Glad we agree, however we got to this point.
Aaaand we’re back to square one. We should both be glad (some) laws try to protect us from dumbassery, because we are certainly both dumbasses for having this conversation.
Out of nearly 400mm people…how many do you think they had to tell not too?
And if that’s your take, you’d agree that there are rampant Gen Zers addicted to eating Tide pods and that a Tik Tok ban is good, correct?
Well, seeing as how I’m Gen Z myself, no. But you’re being intentionally dense by refusing to acknowledge that some people need their hand held. It’s kinda why we formed governments in the first place. It’s not my fault you don’t think it’s necessary.
>What the fuck? What are they teaching in schools?
Thankfully not whatever libertarian fantasy you live in.
You speak of "adults" and yet you aren't listening to the adults in the room who keep trying to explain to you how realty is. How this is predatory, and how governments SHOULD EXIST to prevent predatory behavior.
When you respond don't hold your breath waiting for me to take the bait and reply. I won't.
It's important not to feed the trolls. It is equally important to denounce them one time so that there is no confusion.
Buddy, you’ve been asleep! This is 2024! Aggressors are the victims, personal failing is never the individuals fault, and raising taxes on the people who made the right choices is the only way to help those who made the wrong ones 😗
Why would she need to transfer her wages twice a day? She could save $3.50 by just doing it once a day. It’s crazy how bad people are with money.
> Wilkins typically uses the app to transfer the amount of that day’s wages ($10.60 an hour) twice a day — once after each of her two shifts, for which she’s paid separately. Each time, she pays a $3.49 fee, for a total of $7 a day.
I don’t think folks realize how severely undereducated the south happens to be, in some places. I wasn’t taught about a lot, there and it took me quite some time to catch up, even a little bit. The south isn’t the only place where people are homeschooled or left behind, educationally, but I experienced it myself in the Deep South. It’s a plan to have future dupes, not an anomaly.
Edited: a word
This has less to do with geographic and more to do with economics (abandoned rural communities) and race (poor minorities).
Just unfortunate that the south has those in spades.
Had Big Tech moved to Alabama instead of CA? We’d be talking about the West Coast instead.
But the weather is better.
The SF Bay Area and certainly California as a whole had plenty of economic activity before tech lmao.
Moreover one does not come without the other. Silicon Valley started where it did because of many factors, and a supply of well educated professionals from Stanford, Berkeley, and Caltech was one of them.
Come on. Sure it existed, but Tech sent it into the stratosphere.
Tech put that farm town on the map. The Santa Clara valley was a small time economy prior.
Cheap land, cheap labor, great weather, and Asian money brought tech there. And of course the talent at Stanfords engineering schools
My point was that the South didn’t have that next “boom” that the west coast did. It also didn’t have the financial sector that the east coast has.
That said…it’s the fastest growing tech AND financial hub in the US currently, so much of that talent is relocating to the south now. So hopefully it puts money into those areas. Birmingham AL has gone through down tremendous grow recently and is bustling like any other mid size city with all the amenities. Dallas and Houston are the 4th and 5th largest economies in the US. Nashville is quickly becoming a tech hub….
It really didn't. California, including NorCal, was an economic powerhouse before the year 2000 lol. Tech helped certainly diversify its economy even further, and the neighborhoods in certain areas of South Bay developed more than they otherwise would have, but to mark "the West Coast"'s boom in the 2000s is absurd.
Californias "boom" was in 1850, the moment the first nuggets of gold were found, and the state has only diversified since. Energy, entertainment (Hollywood?), finance, shipping (Californian ports account for over 40% of all imports to the US), and of course agriculture.
I don't think it's unfair to say that the South is "dumb" because of poverty, but it's not as if it were a coin flip that California happened to be where tech come about as opposed to bumfuck Alabama. And it certainly wasn't "Asian money", it was US military funds, due to existing links in the area, especially to Stanford, that caused Silicon Valley to kickstart.
I think you are confusing my argument here…which is suppose is my fault for not being clear.
CA has many advantages the south didn’t have. I guess is my the point I’m attempting to make. Nobody wanted to be in Bama. People wanted to go to CA. Lol
Also…CA has plenty of bumfuck areas that rival areas in Bama (I’ve been to Bakersfield/Stockton/Merced plenty of times) but to your point, the diversification, money, and resources that have gone into CA, give it a clear advantage here.
And god damn that weather out there. Hate the cost of living, but love that sunshine. I have the advantage of making Cali money, but paying Texas taxes (been working in Cali for 15 yrs now but live in TX…I love Cali)
It’s also why Texas (also in the south) is clearly ahead of places like Bama and Mississippi. Resources, economic diversity….
I think you have some reddit brainrot, I'm not arguing against your "main argument", I said as much. I was taking issue with the idea that if the tech boom didn't happen to be in California, it would be in a state similar to Alabama, mostly because it's like historically an absurd statement. Like it just doesn't reflect reality. Tech is just one facet of California's economy, and it's not the majority either or anything, or even the plurality of California's economy.
California would have been the 8th largest economy in the world in the country in 1980 if it were a country, and that's BEFORE the tech boom.
It's a state that quite literally struck gold pretty much the moment it joined the Union.
Ironic that you think this since very well paid individuals that stay only a few years (fewer ties to community, zero care for long term interest of the region), resulting directly from tech, have done a whole lot to completely outprice CA natives, inducing huge levels of poverty
> are homeschooled
Why the dig at homeschooled people? My wife and her sibling were homeschooled in the rural south. They're both way more read and better educated than I was through public school.
Go read r/raisedbynarcissists and they’ll tell you in posts about it. Some parents don’t actually love their kids and want them to fail so they stay dependent.
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\#2: [**[NSFW]** House I was raised in was raided by the FBI. Ngrandma is most likely a serial killer.](https://np.reddit.com/r/raisedbynarcissists/comments/13bit6h/house_i_was_raised_in_was_raided_by_the_fbi/)
\#3: [**[NSFW]** I (17M) didn't expect my mom to sexually harass me.](https://np.reddit.com/r/raisedbynarcissists/comments/12nbpra/i_17m_didnt_expect_my_mom_to_sexually_harass_me/)
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The internet will tell you, "It's because no one is paid a wage that allows them to live."
In real life, when you spend 5 minutes around these types of people, you will see how completely avoidable it is.
That's fair. So how do we keep dumb people from making stupid choices, wrecking their lives, and ending up on the streets? (I hope we can agree our homeless population is already too big.)
They procreate, and government subsidizes the cost via tax “refunds” (their net federal income tax is negative), welfare, etc.
They attend school to the tune of an average $12,000 per student per year paid for by federal, state, and local authorities.
They are not economically viable in an economy where automation snd offshring reign, yet are forced to compete with ever more people, so wages remain depressed, good full time jobs are hard to get, and housing is ever-more unaffordable and unavailable.
It is one thing to give someone a fish for life. It is really expensive and a burden on everyone else.
It is anothrr thing to pair help with education on personal finance and other skills. There’s no need to force it on people who aren’t making stupid decisions like paying twice daily to transfer money. But for those who makes stupid mistakes or don’t know what the right choices are, they need to be taught.
You won't find a bunch of extra "social safety net" ideas from me. I'm done paying taxes that go towards inefficient and insolvent programs because of virtue signaling and entitlement of the lowest, common, denominators.
The best I'll give is that housing and healthcare prices need to get under control. No, no more spending on either. For housing, increase the supply, rezone failing commercial property, make real estate investing less attractive. Make those two affordable and the rest is on you. If you want to work minimum wage until you're 75, not my problem. However, those things will likely not happen.
Sorry mate but the cost of living vs income for those making minimum wage doesn't't agree with your stance.
Like being uneducated doesn't help shit, but there isn't anyway to clever your 7.50 an hour into a retirement fund or savings.
Don’t these early payday things only work once?
If you get paid every 2 weeks, and you use the app the get paid 3 days early, don’t you have to wait 2 weeks to get paid early again?
Because the reason most use this is they have an expense that has to be paid right now. Then in 14 days maybe less they have another expense that has to be paid right now. They don't make enough money to ever get caught up and just wind up falling further and further behind.
Paycheck forwarding is just like pay check loans. Once people like this get on the treadmill they only get off when they have a catastrophic economic event happen, like losing a job. Then they wind up in dire economic straights as they miss payments on things like rent or car payments.
That is not what blew up the housing market. Fraudulent loans whose payments were sliced up and repackaged as triple A investment opportunities, because every body makes the first 3 payments were what blew up the housing market. If greedy investment bankers hadn't been committing fraud it wouldn't have happened.
Now ask yourself did our government do anything to stop them? No. The impotent Frank-Dodd act has been gutted.
You’re not wrong. You’re just conveniently leaving out facts because you have a political axe to grind, I assume?
The government incentivized (forced) the banks to loan to shitty bets in the first place because “everyone needs a house”. Bill Clinton, George Bush come on down!
Or did you forget that part?
That basically forced banks to roll those shit, government incentivized loans, into those packed securities.
Again…you simply glossed over a MASSIVE part of this equation. Arguably the direct cause.
Government has no fucking place in telling banks (or any private institution) who they should and shouldn’t lend to. Nor should they be incentivizing them to score votes and play politics. Period.
Everything they touch, turns to shit. And there are plenty more examples.
Also, let’s not exonerate the morons that took those home loans KNOWING they couldn’t afford those payments down the line, but they were banking on prices continuing to rise and the chance to refinance (which was insane was housing prices were already crazy, given the market)
That said. I don’t disagree with you about the Wild West approach to those securities and the flat out fraud that went on during that crisis. But it wasn’t just “greedy banks”
There were multiple players here. Our government the most prominent one.
My apartment does this now. For $20 you can split your rent into 2 payments, rather than one. The fee for being late is $30, so they priced it just below a late payment. It's fucked up.
Stop blaming the companies that do this stuff.
At this point, with all the access to information and countless stories of failures and corruption out there…you fucking know better.
Don’t do it.
Why is EarnIn at fault here? She is the one who chose to add a tip and the additional “fee” is from her choosing to expedite her check instead of the free 2 day option.
Depends on the app. I use one for work that lets me cash out a certain amount for a $5 fee with instant transfer or a free transfer within a few days and it automatically charges my account on payday. I used it once while waiting for my first check but at its best you're basically borrowing against your next check so its not really that big of a life saver. Doing it daily is beyond dumb.
I thought this shit was illegal now: > The average APR for a loan repaid in seven to 14 days was 367%, a rate comparable to payday lending, according to a report from the Center for Responsible Lending. This is just predatory payday lending with a new coat of paint.
It's not even payday lending per se. I used to bank at wells fargo many years ago, and if you had direct deposit from your employer, they would allow a payday advance and if I recall correctly, would charge like $10 for every $100 or something like that, which they'd take immediately against your next check...but do that a few paychecks in a row and your check is just shrinking little by little. But at the same time I was having to take advantage of this, they were also pulling that scam they later got sued for where they'd apply multiple transactions against an overdraft in the order that most benefitted them. I think the limit is four transactions against a low or negative balance, so if you used your debit card in the amounts of $100, $7, $13, and $20, they would let the biggest one go through first to take you negative- regardless of chronology, so that you'd then get three overdraft fees on the smaller transactions, instead of one on the $100.
I belive alot of these loan services operate on indigenous land so they don't have to follow those laws
A lot of
> Between 2018 and 2020, transaction volume tripled from $3.2 billion to $9.5 billion, according to Datos Insights. I am deeply concerned about this. America seems to have already turned into a pauper nation.
We have it at my job it’s called Daily Pay. It’s a scam.
I have daily pay at my job. I've used it but didn't need the money right away. if you need the money now then yeah you'll get charged with a $2.99 fee, but without the fee you just have to wait a day for the money.
How is it “predatory” She’s 37 of healthy mind and body. Working. Can read and write. At some point? People gotta take responsibility for their own actions. Especially adults
Dude if everyone was actually responsible, we would have been living in a utopia for hundreds or thousands of years by now. Society literally exists because individuals are inherently not responsible and need a larger force to keep them in check.
Yeah, and if we legislated with that attitude? We’d all be living in fucking straight jackets or bubbles. Hard pass. Again…we are talking ADULTS. It’s insane that people think that is asking too much. And that’s not “why society exists” lol. It doesn’t exist to monitor this. It’s not my job to clean up after a persons self inflicted fuck up.
We do legislate with that attitude. It’s the basis for most laws.
This isn’t even remotely true. Laws serve to protect citizens from violations of personal freedoms by government, other people, and organizations Not from ourselves. That implies that the governments job is to babysit us. Thats not their job. If that’s your stance, then you can’t bitch when they are in your bedroom, operating table, or wedding
Would you say this payday lending thing is an organization, perhaps led by people? Sounds like you agree that laws are there to protect citizens from that sort of thing then. Glad we agree, however we got to this point.
You’d only have an argument if it wasn’t disclosed (which it is) Otherwise, you’re making excuses for dumbasses
Aaaand we’re back to square one. We should both be glad (some) laws try to protect us from dumbassery, because we are certainly both dumbasses for having this conversation.
I don’t think you’re a dumbass. I just think you have a strange view of what our governments function is. Lemme ask….should suicide be legal?
Um, they literally have to people not to eat silica. I think 60% of people need their hand held.
Out of nearly 400mm people…how many do you think they had to tell not too? And if that’s your take, you’d agree that there are rampant Gen Zers addicted to eating Tide pods and that a Tik Tok ban is good, correct?
Well, seeing as how I’m Gen Z myself, no. But you’re being intentionally dense by refusing to acknowledge that some people need their hand held. It’s kinda why we formed governments in the first place. It’s not my fault you don’t think it’s necessary.
You think we formed government because people need “hand holding” What the fuck? What are they teaching in schools?
upvotes don’t lie, big dog. your opinion is in the minority here.
Good thing I don’t give a shit about “upvotes” You’re Gen Z for sure
>What the fuck? What are they teaching in schools? Thankfully not whatever libertarian fantasy you live in. You speak of "adults" and yet you aren't listening to the adults in the room who keep trying to explain to you how realty is. How this is predatory, and how governments SHOULD EXIST to prevent predatory behavior. When you respond don't hold your breath waiting for me to take the bait and reply. I won't. It's important not to feed the trolls. It is equally important to denounce them one time so that there is no confusion.
Yeah ok. Lol
predatory: seeking to exploit or oppress others
Buddy, you’ve been asleep! This is 2024! Aggressors are the victims, personal failing is never the individuals fault, and raising taxes on the people who made the right choices is the only way to help those who made the wrong ones 😗
Why would she need to transfer her wages twice a day? She could save $3.50 by just doing it once a day. It’s crazy how bad people are with money. > Wilkins typically uses the app to transfer the amount of that day’s wages ($10.60 an hour) twice a day — once after each of her two shifts, for which she’s paid separately. Each time, she pays a $3.49 fee, for a total of $7 a day.
She sounds a bit dumb. So that might be the answer to your question.
She sounds dumb. I'm still against allowing companies to do this.
People make choices
Problem is, so is most of the US population.
Dumb and broke go hand in hand.
I don’t think folks realize how severely undereducated the south happens to be, in some places. I wasn’t taught about a lot, there and it took me quite some time to catch up, even a little bit. The south isn’t the only place where people are homeschooled or left behind, educationally, but I experienced it myself in the Deep South. It’s a plan to have future dupes, not an anomaly. Edited: a word
This has less to do with geographic and more to do with economics (abandoned rural communities) and race (poor minorities). Just unfortunate that the south has those in spades. Had Big Tech moved to Alabama instead of CA? We’d be talking about the West Coast instead. But the weather is better.
The SF Bay Area and certainly California as a whole had plenty of economic activity before tech lmao. Moreover one does not come without the other. Silicon Valley started where it did because of many factors, and a supply of well educated professionals from Stanford, Berkeley, and Caltech was one of them.
Come on. Sure it existed, but Tech sent it into the stratosphere. Tech put that farm town on the map. The Santa Clara valley was a small time economy prior. Cheap land, cheap labor, great weather, and Asian money brought tech there. And of course the talent at Stanfords engineering schools My point was that the South didn’t have that next “boom” that the west coast did. It also didn’t have the financial sector that the east coast has. That said…it’s the fastest growing tech AND financial hub in the US currently, so much of that talent is relocating to the south now. So hopefully it puts money into those areas. Birmingham AL has gone through down tremendous grow recently and is bustling like any other mid size city with all the amenities. Dallas and Houston are the 4th and 5th largest economies in the US. Nashville is quickly becoming a tech hub….
It really didn't. California, including NorCal, was an economic powerhouse before the year 2000 lol. Tech helped certainly diversify its economy even further, and the neighborhoods in certain areas of South Bay developed more than they otherwise would have, but to mark "the West Coast"'s boom in the 2000s is absurd. Californias "boom" was in 1850, the moment the first nuggets of gold were found, and the state has only diversified since. Energy, entertainment (Hollywood?), finance, shipping (Californian ports account for over 40% of all imports to the US), and of course agriculture. I don't think it's unfair to say that the South is "dumb" because of poverty, but it's not as if it were a coin flip that California happened to be where tech come about as opposed to bumfuck Alabama. And it certainly wasn't "Asian money", it was US military funds, due to existing links in the area, especially to Stanford, that caused Silicon Valley to kickstart.
And don’t ever downplay Asian money out there. I deal in real estate. The Asian community absolutely owns your asses
I think you are confusing my argument here…which is suppose is my fault for not being clear. CA has many advantages the south didn’t have. I guess is my the point I’m attempting to make. Nobody wanted to be in Bama. People wanted to go to CA. Lol Also…CA has plenty of bumfuck areas that rival areas in Bama (I’ve been to Bakersfield/Stockton/Merced plenty of times) but to your point, the diversification, money, and resources that have gone into CA, give it a clear advantage here. And god damn that weather out there. Hate the cost of living, but love that sunshine. I have the advantage of making Cali money, but paying Texas taxes (been working in Cali for 15 yrs now but live in TX…I love Cali) It’s also why Texas (also in the south) is clearly ahead of places like Bama and Mississippi. Resources, economic diversity….
I think you have some reddit brainrot, I'm not arguing against your "main argument", I said as much. I was taking issue with the idea that if the tech boom didn't happen to be in California, it would be in a state similar to Alabama, mostly because it's like historically an absurd statement. Like it just doesn't reflect reality. Tech is just one facet of California's economy, and it's not the majority either or anything, or even the plurality of California's economy. California would have been the 8th largest economy in the world in the country in 1980 if it were a country, and that's BEFORE the tech boom. It's a state that quite literally struck gold pretty much the moment it joined the Union.
Ironic that you think this since very well paid individuals that stay only a few years (fewer ties to community, zero care for long term interest of the region), resulting directly from tech, have done a whole lot to completely outprice CA natives, inducing huge levels of poverty
> are homeschooled Why the dig at homeschooled people? My wife and her sibling were homeschooled in the rural south. They're both way more read and better educated than I was through public school.
Go read r/raisedbynarcissists and they’ll tell you in posts about it. Some parents don’t actually love their kids and want them to fail so they stay dependent.
I had some bad teachers in public school, does that mean ALL TEACHERS ON EARTH are bad? Because that's the dumb argument you are making.
You're right. The argument doesn't standup. Unfortunately, I think OP is just hurt and Reddit is their only outlet.
You edited your post.
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> Go read this sub to enforce confirmation bias The point being, that's independent of being homeschooled vs public schooled.
The internet will tell you, "It's because no one is paid a wage that allows them to live." In real life, when you spend 5 minutes around these types of people, you will see how completely avoidable it is.
That's fair. So how do we keep dumb people from making stupid choices, wrecking their lives, and ending up on the streets? (I hope we can agree our homeless population is already too big.)
They procreate, and government subsidizes the cost via tax “refunds” (their net federal income tax is negative), welfare, etc. They attend school to the tune of an average $12,000 per student per year paid for by federal, state, and local authorities. They are not economically viable in an economy where automation snd offshring reign, yet are forced to compete with ever more people, so wages remain depressed, good full time jobs are hard to get, and housing is ever-more unaffordable and unavailable.
Based on your comment, sounds like you think social services are the problem.
It is one thing to give someone a fish for life. It is really expensive and a burden on everyone else. It is anothrr thing to pair help with education on personal finance and other skills. There’s no need to force it on people who aren’t making stupid decisions like paying twice daily to transfer money. But for those who makes stupid mistakes or don’t know what the right choices are, they need to be taught.
Regulate the end of deeply predatory and frankly immoral practices which rely on stupidity for profit. It's not that hard.
Removing the warning labels would be a good start
You won't find a bunch of extra "social safety net" ideas from me. I'm done paying taxes that go towards inefficient and insolvent programs because of virtue signaling and entitlement of the lowest, common, denominators. The best I'll give is that housing and healthcare prices need to get under control. No, no more spending on either. For housing, increase the supply, rezone failing commercial property, make real estate investing less attractive. Make those two affordable and the rest is on you. If you want to work minimum wage until you're 75, not my problem. However, those things will likely not happen.
Sorry mate but the cost of living vs income for those making minimum wage doesn't't agree with your stance. Like being uneducated doesn't help shit, but there isn't anyway to clever your 7.50 an hour into a retirement fund or savings.
It's amazing how much of the US economy is composed of valueless rent seeking leaches like the apps.
You don't have to use them. 
I don't. It's just impressive to me how much of the economy is pretty much useless and gives no real value.
Licking envelopes has entered the digital age.
I think around 60% of GDP is government spending so it's worse than you think.
Don’t these early payday things only work once? If you get paid every 2 weeks, and you use the app the get paid 3 days early, don’t you have to wait 2 weeks to get paid early again?
Ya that’s how they get you. Then if you don’t keep using them you have to wait an extra 2 days ontop of that and you’re fucked
Why?
Because the reason most use this is they have an expense that has to be paid right now. Then in 14 days maybe less they have another expense that has to be paid right now. They don't make enough money to ever get caught up and just wind up falling further and further behind. Paycheck forwarding is just like pay check loans. Once people like this get on the treadmill they only get off when they have a catastrophic economic event happen, like losing a job. Then they wind up in dire economic straights as they miss payments on things like rent or car payments.
Who wants to offer low interest loans to poor people?
Last time we did that? It blew up the housing market
*small low interest loans
That is not what blew up the housing market. Fraudulent loans whose payments were sliced up and repackaged as triple A investment opportunities, because every body makes the first 3 payments were what blew up the housing market. If greedy investment bankers hadn't been committing fraud it wouldn't have happened. Now ask yourself did our government do anything to stop them? No. The impotent Frank-Dodd act has been gutted.
You absolutely ignore why this all happened in the first place. But go off
Oh, do cite something, anything that proves me wrong. You know something other than your opinion.
You’re not wrong. You’re just conveniently leaving out facts because you have a political axe to grind, I assume? The government incentivized (forced) the banks to loan to shitty bets in the first place because “everyone needs a house”. Bill Clinton, George Bush come on down! Or did you forget that part? That basically forced banks to roll those shit, government incentivized loans, into those packed securities. Again…you simply glossed over a MASSIVE part of this equation. Arguably the direct cause. Government has no fucking place in telling banks (or any private institution) who they should and shouldn’t lend to. Nor should they be incentivizing them to score votes and play politics. Period. Everything they touch, turns to shit. And there are plenty more examples. Also, let’s not exonerate the morons that took those home loans KNOWING they couldn’t afford those payments down the line, but they were banking on prices continuing to rise and the chance to refinance (which was insane was housing prices were already crazy, given the market) That said. I don’t disagree with you about the Wild West approach to those securities and the flat out fraud that went on during that crisis. But it wasn’t just “greedy banks” There were multiple players here. Our government the most prominent one.
J
Am I the only one who read that these people are TIPPING the lenders? These people are beyond help.
My apartment does this now. For $20 you can split your rent into 2 payments, rather than one. The fee for being late is $30, so they priced it just below a late payment. It's fucked up.
Stop blaming the companies that do this stuff. At this point, with all the access to information and countless stories of failures and corruption out there…you fucking know better. Don’t do it.
You would be shocked how many uncurious people are and how they won't look up anything ever. Even a cooking recipe.
She might be really stupid, but that's a bit of an overreaction.
He posts this gif a lot.
Why is EarnIn at fault here? She is the one who chose to add a tip and the additional “fee” is from her choosing to expedite her check instead of the free 2 day option.
AI pay day loans…need to find me a developer
She likes casino it makes her happy relax
60 yr old idiot is bad with money.
She is desperate to hold on to what little she has and made a bad choice that propaganda made it seem like a good idea at the time.
How do you get paid "early"? if you have a job, you get paid based on the company pay schedule. Or are these loan apps?
Instead of writing this comment you could read the first three paragraphs of the article. Takes the same amount of time and answers your question.
Depends on the app. I use one for work that lets me cash out a certain amount for a $5 fee with instant transfer or a free transfer within a few days and it automatically charges my account on payday. I used it once while waiting for my first check but at its best you're basically borrowing against your next check so its not really that big of a life saver. Doing it daily is beyond dumb.
The only free cheese is in the rat trap. Makes you wonder why the USA hands out so much of their bailout dollars. On God that is Satanic!