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I've not heard of or thought of this approach. It's pretty clever. Still possible to abuse, but it seems at least somewhat less likely.
by Diederich 10y ago
I've not heard of or thought of this approach. It's pretty clever. Still possible to abuse, but it seems at least somewhat less likely.
- billmalarky 10y agoYou would need to outlaw "BI payday loans" for this to not be circumvented almost immediately.
- gedy 10y agothen "We'll simply unleash wave after wave of Chinese needle snakes."
- ricardobeat 10y agoWith such small amounts, the fees would be a huge % - no different than loan sharks everyone already has access to.
- sremani 10y agoBlack and Gray markets exist for a reason, and if you ban something, it wont go away, it will just go under ground.
- MichaelBurge 10y agoActually, you'd only need to classify the money from BI as not being subject to garnishment or collections. This is how Social Security is handled. With this, they could loan the money to people and people would owe it, but they couldn't collect.