this post was submitted on 06 Feb 2024
929 points (94.4% liked)
Memes
45407 readers
424 users here now
Rules:
- Be civil and nice.
- Try not to excessively repost, as a rule of thumb, wait at least 2 months to do it if you have to.
founded 5 years ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
there's certainly no reason to ever give a whit of credit (no pun intended) to anything any financier ever says. The other day there was a muppet on the radio rambling about how if the Canadian government limits interest rates to 35% as they're discussing doing, banks won't be able to make enough money to be able to loan it out. Usury is anything above 3%, just in case you didn't know. Now the entire culture is usurious; usury is the standard, ergo we don't use the word any more.
I used that word against BoA for a $35 overdraft on half a dunks coffee. It felt apt at the time but I’m pretty sure nobody knew what it meant.
With all due respect it was not so apt as usury is specifically charging interest, not fees.
Interest is just fees with more steps.