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TYT: Big Banks Behind Payday Loan Scams

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WhoIsNumberNone Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Dec-08-11 11:21 PM
Original message
TYT: Big Banks Behind Payday Loan Scams
 
Run time: 04:02
https://www.youtube.com/watch?v=kqWdjfaSk1Y
 
Posted on YouTube: December 08, 2011
By YouTube Member: TYTshows
Views on YouTube: 442
 
Posted on DU: December 09, 2011
By DU Member: WhoIsNumberNone
Views on DU: 1120
 
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dotymed Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-09-11 09:57 AM
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1. It is not only working people who are being targeted.
The elderly trying to subsist on fixed (usually SS) incomes are, because of the lack of their pay keeping up with inflation, are also falling prey to these unscrupulous, usurious practices. I know some elderly that are caught in this vicious cycle. Most have gone the credit card path (or started that way). Getting new credit cards with introductory 0% interest charges on existing credit card debt switched from another card. Unsuccessfully trying to keep their heads above water.
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