Comment Re:BWAHAHAHAHAHAHA (Score 1) 387
Banks gouge the poor more than their better off customers, and payday loans at 300% often end up cheaper than bank overdraft and late payment fees.
I think you're blending issues here. Your statement assumes that a large portion of people are poor because they cannot effectively manage their money. That's a separate issue based upon (lack of) education and self control. Are these related to being poor? There might be A relationship, but it's not a direct cause and effect.
For those who are poor because of unfortunate life circumstances and who have the proper education and self control are much more likely to live within their (smaller) means may well be able avoid overdraft and late fees by simply not spending more than they have available. For these folks, the bank option would be far better for them.