New Orleans Payday lenders could not operate without the collaboration of the big money center banks. They are financiers providing the dollars being lent in predatory fashion to desperate lower income families. They are also the loan collectors by facilitating drafting from borrowers’ accounts to service the loans for the payday lenders, sometimes on multiple …
Tag: loans
Chase and Other Banks Need Policing & Regulation on Pay Day Lending Abuses
Little Rock It takes a lot of newsprint and video clips to bring Jamie Dimon, the arrogant chief of JP Morgan Chase, one of USA’s largest banks, down but stories in the Times picked widely of Chase enabling predatory on-line payday lenders by allowing hundreds and thousands of overdraft and other fees to empty workers’ …
Fire in the Mercado, Usury at Los Bancos
Tegucigalpa Within minutes of hitting central Tegucigalpa we were on our way to a series of markets directly across the picturesque but fetid river running alongside the capitol not far from the original palace. ACORN Honduras in Tegucigalpa had been working with stall vendors over the last month who had asked for help after a sudden …