How Do Financial Institutions Ripoff the Poor? Let Us Count the Ways

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Drip by drip, dollar by dollar – financial institutions exploit every opportunity to prey upon the vulnerable. It’s all legal but is it really good for America? Is the profitability of banking services for the poor the reason financial institutions have hordes of lobbyists fighting re-implementation of Glass-Stegall, the funding and empowerment of Dodd-Frank, and the full powers of the Consumer Financial Protection Bureau? Ask yourself which of these apply to you or someone you know. Then ask yourself how much these banking functions have cost you or an associate:

1. Reverse mortgages
2. Payday lending
3. Car title loans
4. Predatory variable rate mortgages
5. Revolving credit card debt and card fees
6. NSF check fees (process the big check and bounce all the little ones)
7. Service charges
8. ATM fees
9. Property foreclosures
10. Tax preparation

Need we continue? It’s time to examine the fees, charges, and procedures of America’s financial industry with Larry Checco. You’ll start to see the big picture and why banks can do these things with impunity.

Guest: Larry Checco
Learn more at: Checco Communications

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About Author

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The Tim Danahey Show started in July, 2010 at internet station Castle Rock Radio. It started as a one-day-per week endeavor and quickly grew to five days per week. The show discusses economics, government, social issues, history, and non-fiction books in a magazine format featuring in-depth conversations with guests. Politics and inflammatory conversations are discouraged as they are divisive and counter-productive. Instead, the show seeks under-reported topics and delves into facts, different perspectives, and ramifications of each perspective.