Banks Raise Debit Card Fees

New York Post:

Just weeks after President Obama signed into law new rules clamping down on runaway credit card fees, banks are accelerating their push for plastic profits by making an end run around the restrictions -- that is, jacking up fees related to debit cards.

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Read the whole story: New York Post

Comments

[PhilipTaylor]

YOU CAN THANK SENATOR DODD FOR THIS FINE BILL!

He gets over 50% of his LOOT from Wall Street Banks!

Remember what he did when he pulled out the limits on the AIG Bonuses!

Campaign Reform is PRIORITY ONE!

[PhilipTaylor]

Our banks are the revitalized Mafia without the rules, as Kennedy did not end their reign, they s1imed their way up through the Financial System and NOW OWN CONGRESS and the Presidency using their ill-gotten LOOT!

[CBS Report: $7.5 Million per Average Senator/4 years just from Wall Street!]

The problems will trace NOT just at the doorsteps of the BIGGEST NAMES on Wall Street but to the doorsteps of many of the Biggest Names in Congress and the White House, both past and present!

[PhilipTaylor]

They are embedded in the Banks and they are NOT hiding their presence. Charging 57% to 380% for short term loans or 28% to 36% on Credit Cards is a Mafia Rate that the Godfathers' would be proud of!

This is Mafia activity by the Banksters and if you prefer to use G@ngsters fine but this is a immoral group of Thieves using SCAMS and running our ENTIRE COUNTRY buying away our DEMOCRACY with their F!1THY ill-gotten Loot!

[xenophrenia]

First - ditch you're account at BofA, Citibank, or any of these large predators.

Second - pitchforks and torches, pitchforks and torches. Someday - we will realize we own them - someday.

[PhilipTaylor]

100% AGREE!

Set a time and date on HP: Friday at NOON for example!

Set a Location: BofA or the Federal Building

Tell us what to BRING: Lots of NOISE makers, loudspeakers, horns, drums, signs

[Hdaryl01]

Bla Bla Bla Bla and Bla. Yet another red meat story about oh so hard to believe too big too fail bank malfeasance.

People, please either:

1) Fire ANY financial institution that acts contra to your values and beliefs. TODAY! I have personally fired Wells Fargo, Bank of America, JP Morgan Chase, Citibank, Capital One, Merrill Lynch, and AIG Insurance-months ago. And, I will never, ever use any of these institutions for any reason for the rest of my life. And, I let everyone I know, including people who work at some of these lofty institutions why, and implore them to do the same.

Or,

2) Shut the phuque up and accept the consequences of your non-action. If YOU continue to patronize these institutions, you have not earned the right to complain. If YOU are not part of the solution, YOU are part of the problem.

The business model of these institutions is unsustainable. Period. 30-40% of our GDP is represented by transaction fees of the financial sector. Are you willing to pay more? Remember when the check cashing places were EXPENSIVE?

My local small 4 location bank charges $0 for ATM OR DEBIT transactions. Ready reserve kicks in automatically, with NO FEE.

How many of us need to fire these banks too bring them down? 5%? 10%? 20% Our President won't do it. Our Congress won't do it. Only WE can force the issue.....

[kustom]

Don't blame the banks, if you can't keep track of your own money, TS

[mjb5406]

You must work for Bank of America

[kustom]

No I'm retired and know how to balance a checkbook, and use my debit card most of the time. If I can't afford it I don't buy it.

[Enid]

There are no fee cards out there. Got lifetime fee checking and card at US Bank.

[viperhawk2k4]

Face it people we are being sold to the bankers unless we rise up there will be no america to defend we will be slaves. mark my words!

(you hear it?, it's calling and its getting louder every day!......­..........­......REVO­LUTION!)

[davidwayneosedach]

If you check your account on-line daily you will avoid these fees.

[nomorefed]

Obamma,s policies may not be working as well as many had hoped:

1st 100 days - There are 2.9 million more people unemployed in May than there were unemployed in January. The unemployment rate went from 7.6% to 9.4%. Since May 2008, we have lost 5.5 million jobs. The biggest losers were: Manufacturing 1.5 million lost Finance & Prof Serv 1.5 million lost Construction 1.1 million lost Retail & Leisure 1.3 million lost

good articles http://www.bit.ly/12NCJR recommended reading

Why isnt the stock market falling when the economy is sinking? Why cant we get change in Washington that we really need? Why vote?

[LetMeUnderstandThis]

Everybody this is really simple pay for what you want in cash, debate cards were designed to disassociate you from your money. here's an example24; If you leave the house with $200 and you make a purchase of $30 you will see the money leaving your hands and what ever change coming back. With a card (credit also) you give plastic and you get a piece of paper with how much you have spent and the rear end fees.

Remember my fellow Americas "Cash is KING"!

[givesflack]

You know the interesting thing about the fees? if you take but one ATM in say a small corner store and multiply the number of people who go into that store to use it. Even though that business might be struggling, the banks are leeching money at that site. Then add up how many time you have used such a machine to retrieve "your' money each day by each day of the year and by everybody else in the world you get just one, albeit large, perspective on just one of many devises these banks use to funnel money into their vaults. .

[Itsmyland2]

Read the article - It is about overdraft fees for Debit Card usage not the fee chrged for using the little ATM at the strip club or the corner store

[givesflack]

I read it chum.p, and my point is that with all the money they make in outrageous fees they continue to make through deception and other tricks of their usury trade why did they lose money. Where did all that money go? Most of it went overseas. So if you complain about bridges falling and inept federal responses to environmental catastrophes then it's you tax cut hugging idio.ts are to blame- get my point? Naw, because you havn't a clue.......

[givesflack]

I look at Capital Hill as Big Corporate headquarters for wall street because citizens are treated the same there as by the big banks. These corporations took over with Reagan exert ultimate control over the fed. Even if you pay off your debt they'll still get your money into their banks by direct deposit from the federal reserve. I believe in government when it's run as a government but not as a wall street satellite which it is now. That's why you hear the warning cries about socialism, which is really the only way to save the country. We must have a comprehensive overhaul of our financial and monetary system that punishes the behavior of the banks not rewards them and place controls on their influence for good. Then and only then can we return to a nation of true liberty and united.

[Peter007]

The banks tactics are dishonest.
My 80 year old aunt was promised $100 if she signed on to a debit card and bought $300 in stuff.
She used the card for a month but later found out that she was over the limit by $100.. Every purchase she made was approved by the bank and they never mentioned that she was being charged $35. per charge. She ended up at the end of the month owing $350 in fees for a $100 over draft.
If the bank is going to charge you for something, they need to tell you up front before you make the purchase, not bury it on page four of those documents written in tiny letters.

[slowhand0728]

Now we are being nickeled and dimed for OTHER peoples problems. The old way at least the rest of us that were doing the right thing were not punished. Just started seeing the changes last week, not one purchases and transfers, forget using an ATM machine. Who knows how much more they will be charging. THIS STINKS!

[Dubois651]

The banking cartel lobby is proving to be more powerful than the government itself. America is in total decay, the vultures are salvaging whatever they can.

Support HR 1207 the Federal Reserve Transparency Act to begin the process of cleaning up the bankin system.