Section 6.3 Cui Bono - Who Benefits?
When a crime is committed, the investigation often revolves around the concept of cui bono - Latin for "who benefits?" While social justice issues are not crimes (well, sometimes they are), thinking about who stands to profit from the status quo can help us to understand how to solve the problem.
The Payday Lending industry in the USA had 11.2 billion dollars of revenue in 2019[6.11.1.100]. These companies benefit directly from the profits of payday lending, but they are not the only ones. A 2011 report by the Public Accountability Initiative found that payday lenders obtain much of their financing from major banks like Wells Fargo, JP Morgan Chase, and Bank of America [6.11.1.99]. They also found that the payday lenders had ties to many of the large Wall Street investment banks, either through partial ownership or through shared personnel.
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