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.