this post was submitted on 25 Jan 2024
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Banks need it /s (lemy.lol)
submitted 10 months ago* (last edited 10 months ago) by [email protected] to c/[email protected]
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Bluesky Post.

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[–] [email protected] 14 points 10 months ago

Paywalled. Open in incognito.

Their point is that poor people use overdrafting instead of making actual loans. Removing the overdraft revenue from banks would make banks not offer it, making it necessary for poor people to take worse loans.

It's just an opinion piece and the author admits that it could have other results.