then "We'll simply unleash wave after wave of Chinese needle snakes."

With such small amounts, the fees would be a huge % - no different than loan sharks everyone already has access to.

Black and Gray markets exist for a reason, and if you ban something, it wont go away, it will just go under ground.

Actually, you'd only need to classify the money from BI as not being subject to garnishment or collections. This is how Social Security is handled.

With this, they could loan the money to people and people would owe it, but they couldn't collect.