re: Just took on a client who took out pay day loans

I think it was DBF that was talking about cashing people's paychecks for like $20 and how much he made off of that at his gas stations. It got into a huge argument, but it was extremely interesting.

I didn't realize that there's a sizeable portion of the population that is so poor and has such bad credit along with absolutely no money sense, that they can't open a basic bank account. They don't have the credit nor min balance to open one and keep it open, a lot of that is because when they do actually have one they overdraw constantly.

Apparently when you have some kind of combo of bad credit and overdraws and other bad banking behavior banks keep track of it.

Therefore, they literally have no where to cash checks but those places that charge like $20 to cash a $300 check.

Point being, who the hell sees those stores and thinks they look legit? I don't think anyone knows they are using them wisely, people go there knowing it's dumb but it's their only or last resort.

Should it really be illegal to eliminate someone's last resort? Doing so would be great for some, but it would be terrible for some too.