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Well-respected bank offering Payday loans
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A so far well-respected bank - 'US Bank' offers payday loans now. I could not believe it!
At least they put the APR in there, in bold letters. It is probably required by law in California.
What are your comments? Are they trying to ruin people?A few weeks ago, I noticed a banner saying "Equity Line - Why not?", luring people into spending the equity that they have in their homes. I guess payday loans are the logical consequence. What will come after that?
My opinion is: this bank is going too far to make profits. Everyone knows that these payday loans are a big trap and nothing good will ever come out from it. What makes me mad is that I closed my credit union's accounts 2 months ago and switched over to US bank. They have a local branch with good opening hours, plus a good HELOC (Home Equity Line of Credit) at prime - 1.01%, that's why I went with them.