Posted on 06/19/2010 9:38:28 PM PDT by apillar
Bank of America Corp. (NYSE: BAC - News) and other banks are preparing new fees on basic banking services as they try to replace revenue lost to regulatory rules, in a push that is expected to spell an end to free checking accounts for many Americans.
Customers will likely be required to pay new monthly maintenance fees on the most basic accounts that don't generate a lot of activity. To avoid a fee, customers will have to maintain certain account balances or frequently use other banking services, such as credit and debit cards, automated teller machines and online accounts.
(Excerpt) Read more at finance.yahoo.com ...
If only they’d stop “helping” us.
We already raised our fees by 25% to make up for regs coming into effect next month.
You can bounce your debit card too.... Same fee as a bounced check fee....
Credit unions have to make a profit too in order to survive. No margin, no mission. They are bleeding us dry too.
I will be moving 10’s of Thousands away from secured accounts. The Banking system can kiss my ass. They had the gall to give me 1.00 in interest over the last qtr.
I’m having a hard time mustering up any outrage over this one. Free checking was always just a means to get people into accounts with massive punitive overdraft penalties anyway.
I never had a problem with free checking. As long as you lived within your guide and pretended 500 didn’t exist that’s your start. Now they are screwing me with lending assets as reported. The banks must report checking and savings as two different entity’s. Now they are screwing the savers.
Dang, if only we’d let the banks run amok until the nex bail out.
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