Banks Now Do Payday Loans???

I was checking my US Bank account balance this morning and saw this little button that said "Request Checking Account Advance". That piqued my curiosity, so I clicked on it and got the screen below.



Take note of a couple of things:

• 120% APR!!!
• $1 for every $10 borrowed - that's a 10% cut (which is the same as 120% APR on a monthly basis).
• 120% APR!!!!!!!!!!!!!!!!!!!
  

I certainly hope this isn't a trend that other banks will fall in to. I am seriously considering closing our account at US Bank. Can you imagine the temptation this will cause? Payday loans right from the comfort of your home (or your in-law's spare camp trailer if you get sucked into this mess).