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A recruiter reached out once for a company that offered "better financial lending to underserved customers". Basically people with shit credit getting more loan

A recruiter reached out once for a company that offered "better financial lending to underserved customers". Basically people with shit credit getting more loans with shark predatory rates. Can you imagine working there and looking at yourself in the mirror? You are actively contributing to the hellscape life of people. Fuck no.

gruez 5y ago
>Can you imagine working there and looking at yourself in the mirror? You are actively contributing to the hellscape life of people. Fuck no. Yeah, actually. "I'm helping to provide financial products to underserved customers that traditionally couldn't get access. Access to financial products can improve the lives of customers when they're used responsibly. A 300% APR loan might seem like a rip-off, but if you can't afford a car repair and you need it to get keep your job, then having the option to take out the loan is strictly better than having a broken car and losing your job. The high interest rates/fees are justified by the high credit risk of our customers, and competition ensures the interest rates aren't unreasonably high".
- lazide 5y ago
  Whatever helps someone sleep at night I guess.
BurningFrog 5y ago
From what I hear¹ the research on payday loans is that on average they provide a useful service to their customers. Banning them makes poor people worse off. Of course, among policy makers, no one asks the poor people they claim to help. ¹ I've heard and read this several times, but I'm not going to dig out a reference.
- Spooky23 5y ago
  Yes, and those cars dealers outside of military bases that sell Ford Mustangs with 8 year, 30% loans are just supporting the troops.
pyuser583 5y ago
That’s why I liked the approach of “let me lay all the crap on the table … you don’t have to like it.” Overall I hate the fact that companies portray themselves as changing the world for the better. They’re making money. No shame in that.
- klyrs 5y ago
  Not to summon Godwin or anything, but my grandpa testified at Nuremberg. There are lines that shouldn't be crossed for a wage. There should be shame when these lines are crossed. They aren't all so bright and clearly defined, but they're there.
- DangitBobby 5y ago
  Well, there's sometimes shame in it.

gruez 5y ago

>Can you imagine working there and looking at yourself in the mirror? You are actively contributing to the hellscape life of people. Fuck no. Yeah, actually. "I'm helping to provide financial products to underserved customers that traditionally couldn't get access. Access to financial products can improve the lives of customers when they're used responsibly. A 300% APR loan might seem like a rip-off, but if you can't afford a car repair and you need it to get keep your job, then having the option to take out the loan is strictly better than having a broken car and losing your job. The high interest rates/fees are justified by the high credit risk of our customers, and competition ensures the interest rates aren't unreasonably high".

lazide 5y ago
Whatever helps someone sleep at night I guess.

BurningFrog 5y ago

From what I hear¹ the research on payday loans is that on average they provide a useful service to their customers. Banning them makes poor people worse off. Of course, among policy makers, no one asks the poor people they claim to help. ¹ I've heard and read this several times, but I'm not going to dig out a reference.

Spooky23 5y ago
Yes, and those cars dealers outside of military bases that sell Ford Mustangs with 8 year, 30% loans are just supporting the troops.

pyuser583 5y ago

That’s why I liked the approach of “let me lay all the crap on the table … you don’t have to like it.” Overall I hate the fact that companies portray themselves as changing the world for the better. They’re making money. No shame in that.

klyrs 5y ago
Not to summon Godwin or anything, but my grandpa testified at Nuremberg. There are lines that shouldn't be crossed for a wage. There should be shame when these lines are crossed. They aren't all so bright and clearly defined, but they're there.
DangitBobby 5y ago
Well, there's sometimes shame in it.