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> Banks should have zero incentive to make being responsible more difficult than it already is for most people. Presumably interest should be banned as well?
by tacostakohashi 3y ago
> Banks should have zero incentive to make being responsible more difficult than it already is for most people.
Presumably interest should be banned as well?
- mlyle 3y agoI read your comment as trying to troll/lampoon him. There's times where banks seem to deliberately screw your payments, etc, up. There's no sane legal regime where they should make paying your balance artificially difficult. Of course they should be able to charge a reasonable amount of interest for the use of credit.
- fnordpiglet 3y agoI’d note that compounding interest is already a “late fee.” The longer you hold the debt the larger it becomes, exponentially. In a meaningful way late fees are double dipping.
- vanchor3 3y agoThere's a difference between "paying interest because you didn't pay off your entire balance" and "paying a $40 late fee because you forgot the payment was due at 10:59AM Eastern Time and you were an hour late".
- deleted 3y ago[deleted]