Comments on: Arkansas’s border-hopping borrowers https://www.overlawyered.com/2019/02/arkansass-border-hopping-borrowers/ Chronicling the high cost of our legal system Tue, 19 Feb 2019 22:29:58 +0000 hourly 1 By: Noncenx https://www.overlawyered.com/2019/02/arkansass-border-hopping-borrowers/comment-page-1/#comment-352937 Tue, 19 Feb 2019 22:29:58 +0000 https://www.overlawyered.com/?p=73012#comment-352937 In reply to Hugo S. Cunningham.

Interesting idea. Might be a way for the Post Office to save itself by becoming a “public service” bank by offering a service the commercial banks don’t want to offer like small savings accts. But I can see every commercial bank fighting it.

]]> By: Hugo S. Cunningham https://www.overlawyered.com/2019/02/arkansass-border-hopping-borrowers/comment-page-1/#comment-352798 Sun, 17 Feb 2019 22:13:57 +0000 https://www.overlawyered.com/?p=73012#comment-352798 Poor and near-poor Americans could become less dependent on payday loans, steep installment fees, and other exorbitant interest costs if they were encouraged to build up small savings in the Post Office. Commercial banks drive them away with steep minimum fees.

I would favor subsidizing this *minimum* service directly, rather than having the post-office try to imitate a bank. Political banking activity gives post-office saving a bad name in some foreign countries.

]]> By: cc https://www.overlawyered.com/2019/02/arkansass-border-hopping-borrowers/comment-page-1/#comment-352777 Sun, 17 Feb 2019 00:23:46 +0000 https://www.overlawyered.com/?p=73012#comment-352777 The assumption is that people are stupid and must be protected from their own choices. But if you need a short-term loan to prevent your car from being repossessed (and then losing your job) such a law is NOT helping.

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