washingtonpost.com:
A backlash is brewing on Capitol Hill against banks that charge large fees for overdrafts without asking or telling customers, the latest sign that the financial crisis is shifting the balance of power from banks toward borrowers.
Dean Baker: The Rally Against Obamacare for the Banks
Instead of trying to prevent the government from extending health care coverage, how about going after the banks that pillaged the country?
J. Richard Stevens: Add NSF Fees to the List of Commercial Banking Reforms
Anyone who runs a month-to-month family budget knows that in recent years many commercial banks have slowly adjusted account policies in ways that increase their revenue from fees.
Tram Nguyen: A Bit of a Break from the Big Banks
In the face of rising consumer outcry and outrageous stories reported in the media, legislators and regulators finally found the political will to make some moves to restrict overdraft protection.
FRB: Protecting Yourself from Overdraft and Bounced-Check Fees
YouTube - How To Get Back Overdraft Fees From Your Bank
Felix Salmon » Blog Archive » Overdraft fees revisited | Blogs |
The Financial Crisis One Year Later: The More Things Change, the More They Stay the Same
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If no justice is served the American People are going to get more restless, and the next time something happens.....there could be real UNREST! WE have to hold people accountable for their actions.
hat tip to: http://www.iamned.com
Ignorance = Negligence....... They knew what was going on the whole time, all the while padding their pockets. The U.S. crony-Capitalist justice system is a f**king joke. There must be some way we can outsource for justice against these criminals.
My don't they make it law that all dealings between so called lawmakers have between banks, lobbyists and corporations be published. That way we wouldn't have people like Dodd pretending to be looking out for our best interests.
The banks are very careful in their wording to charge a FEE.
This allows them to get around usury laws, charging excessive INTEREST
for the amount loaned to you to cover your overdraft.
I went ballistic when my bank dared to charge me $54.00 in total charges to cover
a $.02 cent overdraft, when I had already set up a small savings account to cover such oversights.
I made a very loud scene at the bank with quite a few customers in the lobby
and very clearly made sure everyone in the lobby knew this bank had charged
me $54.00 to cover a $.02 cent overdraft. :-)
I told the bank manager it costs me about $14.00 to drag them into court in small claims court
and ask for their attorney's contact information.
I received a $44.00 credit on my account the next morning.
You really have to laugh. The politicians who let the banks and big business get us into this mess are now saying they want to look into this. Well all that is going to happen is that the lobbyists will get busy and the kickbacks will start flying.
Funny, I just got a letter from Capitol One saying that it had made an "error" on an overdraft charge and was crediting my account. I had no idea what they were talking about, but when I called, the representative told me that nearly a year ago, I had an overdraft of $50., which the bank "rounded off "
to $100. I protested at that time that the bank had no right to increase the amount owed, but paid off the overdraft immediately and forgot about it. Apparently, the bank is now crediting my account with the amount that they overcharged me ($50.). Wonder if that has anything to do with attempts to legislate just this kind of abuse?
i was at my local bank today....paying .1% interest and charging 4% interest on home equity loans...think about that 3.9% difference and then multiply that by 30 to 1 ratio or 120% in interest in the year.....Where can I get that kind of return in a year????? Cap all interest at 4% for the next 6months....and see where that gets us...We are paying much more than this and the banks won't even talk to us....
this is a teensy weensy issue....lets get to the heart of the criminal activity here.
Dodd is an enabler for the big banks. He is not to be trusted.
Well, it's not a teensy weensy issue to me. I was charged over $300 in "overdraft fees" by Bank of America last month for a total of less than $60 in transactions. I only make around $1300 per month so this is a HUGE issue for me.
I had three accounts with Bank of America, on personal and two for business. One day I was transferring funds from one account another and I made two miscalculations, one for $2.00 and one for $3.00 and then a $50 check cleared that same afternoon. B of A charged me $35.00 for each overdraft and refused to refund. This is not teensy weensy, it is theft.
co-signed!
We need to impose high fees on members of the government when they have deficit overdrafts
then you should be talking about attaching all of the booshie families billions
I wonder how much Dodd will rake in on this one?
A lot, that's the only reason he is getting involved.
Banks are in business to do only one thing: charge fees. If you understand that, you understand banks. Then you shouldn't be surprised when they charge you as many fees as they can get away with.
hat tip to http://www.iamned.com
Brand new member, just joined and you're dropping that link like a lepers fingertips. If anyone visits make sure your virus shields are at full strength folks. Just sayin....
It is about time, these rates have gotten out of control and are bordering on asinine.
Im sure it will be as big a windfall for the banks as credit card reform has been for the credit companies. Just wait to see how they can screw us on this one.
Obama's reform is a joke. There will be no prosecutions, no jail time. Nothing. No change.
Like the investigations into the CIA, this will go NO WHERE, end in NO PROSECUTIONS and serve only as a way for them to WASTE TIME and RUN OUT THE CLOCK until the next round of elections before digging deeper holes.
hat tip to http://www.iamned.com
I am very frustrated by the lack of progress with regards to heath care, education, energy, and financial reform. Obama is acting like an empty suit.
Get your head out and breath for heavens sakes. Obama can only do so much, IF Congress does not follow suit or waffles because they are busy lining their pockets, then the most he can do is give them a talking too, which we all know does NO good.
VOTE all that are NOT willing to help the American people out of office.
Are you effing serious? He's been in office for 9 months, did you really expect overnight results?
Get a reality check, the man is the President, not god. He does not control congress, and because we are a republic and not a monarchy, he can not unilaterally change the way everything is done in the country all at once.
Take your outrage to the election booth and vote out the GOP party of no who are doing their best to stall in committe anything proposed by a democrat.
And you are acting like a child kicking and screaming on the floor as your mother watches embarrassed by your actions. Give it a break.
time to get rid of dodd
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First Posted: 09-21-09 08:44 AM | Updated: 09-21-09 08:50 AM