In reply to mindsnapper.

You may not think the $15 fee is "fair" but it is still less by over 50% than what most banks charge. Additionally, are the users of these products not self-aware actors? Their money does not spend its self, they spend it. They make the decision to over-draw or not. Who are we to say that they have not weighed the options and determined that the fee (that they will pay later) is not worth the benefit they will receive now? Don't want to pay any overdraft fees? Don't overdraw your account. Again, this is just a less expensive version of what banks do today. Where is the grievance?

The root of it for me is a) here is an option that is open to a consenting adult, if they choose to use it, who am I to second guess them and b) if this were to be taken away, where would these people go for financial instruments? They are in this position [some] by choice but some because they have no where else to go. If these additional regulation wind up pricing these types of services out of the market, those affected will be the consumers that were making use of these services. It could be that paying that $15 fee today enables someone to keep the electricity on verses paying a much higher reconnect fee later in addition to being without electricity until that payment (with fee) can be made.

The government has done more harm to the poor trying to protect them than all of the predatory businesses (not saying at all that this company is) combined.

As long as all of the terms are clearly disclosed, a free people should be able to enter into any arrangement they wish regardless of if others think it is a "good deal" or not.