It's true that this is predatory. It's also notable that if banks don't reach out to poor people with free checking and the like, the federal government gets on

It's true that this is predatory. It's also notable that if banks don't reach out to poor people with free checking and the like, the federal government gets on their case for being "discriminatory". This isn't to absolve any banks, but rather to mock the federal government and their chronic flailing about while trying to control the financial sector(+). It's shades of the same mindset which led to subprime mortgages being subsidized, purchased by the million by Fannie Mae and the FHA. "Banks are a bunch of meanies. They ought to do charity instead." (+) and this isn't to say that the sector couldn't use a little control, just that the Feds aren't proving themselves very competent at it.