<blockquote>But that’s not the world we live in. In this world, banks have no interest in banking the kind of people who need payday loans — unless they can extract a large amount of fee income from them. Indeed, Chase launched its Liquid prepaid debit card in large part because it no longer wanted to offer checking accounts to these customers at all, and wanted some other product to move them into. The last thing that banks want to do is to create a new product which will in any way incentivize low-income customers to open new checking accounts, which are likely to always hover around the zero balance level.</blockquote>
via <a href="http://blogs.reuters.com/felix-salmon/2013/06/10/why-payday-loans-wont-get-cheaper/">Why payday loans won’t get cheaper | Felix Salmon</a>.