Replies

To: rabscuttle385

This has to do with new Federal taxes on financial transactions that are part of Dodd-Frank and the Oxley bills, and the fact that they can’t pass these taxes on to consumers, as well as the new overdraft rules.

4 posted on 09/29/2011 5:44:07 PM PDT by Thunder90 (Fighting for truth and the American way... http://citizensfortruthandtheamericanway.blogspot.com/)

Eventually all banks will follow. Not a damn thing we can do about it.

8 posted on 09/29/2011 5:48:12 PM PDT by AGreatPer (Obama has NEVER given a speech where he did not lie!!!)

This has to do with new Federal taxes on financial transactions that are part of Dodd-Frank and the Oxley bills

There is no such tax. It was proposed, never became a bill or passed.

This is all about banks having to make up revenue (read that: profits) due to the so-called credit card reforms rammed through by the Obama Administration in 2010. The changes have been taking place over the last 15 months, the remaining changes are starting to go into effect.

Among those changes to billing or "grace" periods, limitations on how credit card companies can jack up rates, elimination of certain types of transaction charges, limits on ATM fees and more.

The biggest thing to remember is this: Anytime the Government says they're here to help you (or the consumer) hang onto your wallet. These "reforms" have cost us consumers PLENTY, Obama's to thank for that - not the banks.

10 posted on 09/29/2011 5:52:22 PM PDT by usconservative (When The Ballot Box No Longer Counts, The Ammunition Box Does. (What's In Your Ammo Box?))

You are correct. congress and obama did this to the consumer.

27 posted on 09/29/2011 6:07:55 PM PDT by RatRipper (I'll ride a turtle to work every day before I buy anything from Government Motors.)

Everyone should remember to thank Obama every time they swipe their card.

44 posted on 09/29/2011 6:46:09 PM PDT by Mike Darancette (Psalm 109:8)

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