I hope these hypothetical banks will also be giving these theoretical indefinite loans interest free.

Citation? Who is giving unsecured pay day loans on unknown payday? If they did what would the interest be? 1000%?

>Citation? Who is giving unsecured pay day loans on unknown payday? If they did what would the interest be? 1000%?

I'm not a Federal employee and I don't know the details, but there's a banner on my bank's (Chase) website (after you log in) suggesting that they have mechanisms to assist those who aren't getting paid.

What those are, I have no idea. It may well be high interest loans or no interest loans. Or it may waive fees on overdrafts. Again, I don't know. But banks are taking note and communicating with their customers about it.

I see. I imagine its good PR like that cafe giving free lunches in DC.

I worked at a payroll backed loan company and can say there is not many people in the space, for many good reasons.

These banks do not exist.