Of course the payday "banks" are villains in this story as usual but the vile too-big-to-fail banks show their depravity once again. Why the FUCK did they get saved?
Ivy Brodsky, 37, thought she had figured out a way to stop six payday lenders from taking money from her account when she visited her Chase branch in Brighton Beach in Brooklyn in March to close it. But Chase kept the account open and between April and May, the six Internet lenders tried to withdraw money from Ms. Brodsky’s account 55 times, according to bank records reviewed by The New York Times. Chase charged her $1,523 in fees — a combination of 44 insufficient fund fees, extended overdraft fees and service fees.http://www.nytimes.com/...
For Subrina Baptiste, 33, an educational assistant in Brooklyn, the overdraft fees levied by Chase cannibalized her child support income. She said she applied for a $400 loan from Loanshoponline.com and a $700 loan from Advancemetoday.com in 2011. The loans, with annual interest rates of 730 percent and 584 percent respectively, skirt New York law.
This is exactly the sort of stuff the consumer protection bureau is supposed to stop, but the depraved repubs (and perhaps the Jack Lew wing of the Democratic party) work tirelessly to prevent the bureau from stopping the gouging of the most vulnerable in America.