AQUINAS ASSOCIATES

Payday lending is a sordid, predatory program which can place poor and middle class Americans in a financial death spiral.   A few major banks have entered the marketplace wherein they earn 90%-300% interest rates on very short-term advances. The advances are repaid with pre-established direct deposits such as social security checks. It is hard to believe that banks are still that irresponsible after the financial crisis which just occured. In order to build a case to persuade the evil doers to discontinue their bad practices, Aquinas Associates has been working with two of the largest "good" banks to obtain acknowledgement that they will not offer the product. Those two major banks have agreed that PAYDAY LENDING is bad for customers and stated that they will not allow it to happen at their institutions.

We are not revealing the names of the four large banks that are involved in the predatory practice until we have contacted their direcors for one last chance to reverse the positions of bank management. If they do not do so, we will identify them. The two major banks that are acting responsibly are Citibank and Chase. We recommend that you support them if you are considering a change in bank relationships.