zlacker

I'm not from the US so I am admitting to being somewhat ignorant here but my understanding is that Banking Consumer Protection laws (and attitudes) are very different in the US at least when compared to where I live (Australia).

Here there is a huge amount of public pressure to regulate behavior of banking sector targeting things like deceptive practices, predatory lending etc. See for example the 2017 Royal Commission (https://en.wikipedia.org/wiki/Royal_Commission_into_Miscondu...). The conservative government fought tooth and nail against and were heavily pressured into it due to massive public support for it.

I am unsure what the US equivalent of a Royal Commission is (it is essentially a Public Enquiry with the power to compel witnesses to give evidence under oath and investigative powers to gather evidence etc.) I don't think the same kind of attitude exists for a targeted investigation into the US banking sector, at least the messaging we get over here is US is very against stricter regulations.

>>bigger+(OP)
I've dealt with at least four different US banks so far, with a credit score ranging from "zero" (no history) to 750+, and none has engaged in predatory behavior. Some less scrupulous loaners that target people trying to pay their bills might qualify. I'm talking those that advertise with lines like "$5000 now, no credit check". It's probably true that you can borrow money more easily in the US, and I get ads for loan products or credit lines a lot more than elsewhere, but the banks don't conceal their terms or falsely advertise, so that's not grifting.