Another Ridiculous Development

Some days it is hard for me to believe that the people who own banks can sleep at night and live with themselves. The banking industry has had a lot of regulations placed on them lately. Like the Insurance Industry, they know they will not be able to charge INTEREST RATES that are unreasonable, starting soon so they are trying to screw everyone as hard as possible until this happens. Let me give you an example:
(This is from the Well's Fargo online banking website. If you can imagine, they put this on this page so a bank teller won't get yelled at or laughed at publicly having to explain this to you.)

"...Request Direct Deposit Advance
You may request a Direct Deposit Advance® of up to $500 (or your current Advance limit).




Account # XXXXX0000


Advance Amount
$ Must be a multiple of $20 (example: $20, $80, $100, etc.)
Advance Fee
This is an expensive form of credit intended to meet short term and emergency borrowing needs. For every $20 that you advance, your Advance Fee will be $2.
Note: The advance will be automatically deposited into the checking account selected above. Your account must have a positive balance to withdraw cash."

I want you to notice especially, for every $20 that you advance, your advance fee will be $2. That is ten percent interest on each twenty dollars, and the amount is only in twenty dollar increments, so if you need 41 dollars, then you will have to borrow 60. Also, this is only for a loan for a WEEK OR TWO maximum, that will be subtracted from your next direct deposit (one's payroll check, annuity check, or Social Security). So, if you needed to borrow as much as one hundred and one dollars, the amount you get will have to be $120 and the amount returned will have to be be $132.

This next notation is from the website of the Federal Reserve Board (the private banking system that calls itself Federal and acts like they are part of the government, notably the people with the reputation of keeping the Rich Rich and the Poor Poor, who used to be considered the greediest people on the planet) They are only allowed to charge you an INTEREST RATE of: "...you can expect a cost of about $3.50 per $1000 of the home purchase price with an APR depending on the state you live in of around 5% to 6% for an entire year."
My point is, the supposedly most greedy banking system is only allowed to charge you interest at a rate of 6.35 percent maximum so, Wells Fargo has - instead of calling it an interest rate, started charging instead - a FEE of ten percent on a loan that might only be needed for a couple days and won't be longer than 2 weeks to a month maximum (for Social Security or General Assistance).
So, in this time of people being in trouble through no fault or wish of their own, with the whole country having problems, it seems this is the time that the greedy CASH IN on everyone else's misery. Thanks, Bankers. You can bet that we will remember you when another Bonnie and Clyde take your family hostage with the same care and support that you showed for us.