Posted on 10/03/2011 2:04:07 PM PDT by JesseWatters
President Obama joined fellow Democrats in blasting a new fee on debit card users announced by Bank of America, arguing that banks do not have an "inherent right" to a certain amount of profits. The bank has come under a hail of criticism after it announced it would begin charging debit card users $5 a month, blaming the move on policymakers who curbed the amount of fees they could collect from retailers. "You dont have some inherent right just to get a certain amount of profit if your customers are being mistreated," he said in an interview with ABC News. "My hope is that youre going to see a bunch of the banks saying to themselves, 'You know what, this is not good business practices.'"
(Excerpt) Read more at nation.foxnews.com ...
I bet it’s OK with Obama if Maxine Waters’ bank or Shore Bank charged a monthly fee.
Frequently Asked Question
What is Shore Banks Fee Schedule?
Category: All Personal Banking
Print Article
Answer
Most Services are available to account holders only: a Loan or Account is required
Account Servicing
Statement Copies: $5.00 each
Reconciling/Research: $25.00 per hour
CD Rom of account history: $10.00
Stop Payments -Place in Branch: $38.00 each
Stop Payments - through Online Banking: $28.00
NSF (Nonsufficient Funds Item): $38.00 each
Counter Check: $.50 each
Collection Items - On US: $15.00 each
Collection Items - Foreign (Other Bank): $75.00
Early Account Closure: $50.00 if closed within six (6) months
Cancelled Check Copy: $5.00 each
Automatic Overdraft Transfer: $5.00 each
Dormant Account Annual Fee: $50.00 (account is dormant after no activity in 36 months, notification is sent prior to fee being assessed)
Inactive Account Annual Fee: $25.00 (account is inactive after no activity in 12 months, notification is sent prior to fee being assessed)
Deposited Item Returned Fee: $5.00
IRA Transfer Fee (outgoing): $50.00
Official Check Exchange: $15.00
Research (per hour): $25.00
Written Balance Verification: $10.00
Telephone Transfers: $2.00
Wow. Look at all the fees Shore Bank Charges.
Groucho: Wouldn’t it be great if they could eat each other?
—A Night in Casablanca
OK, then do away with debit cards. They can’t do anything that cash cannot do.
Tell Microsoft they can only make a profit margin of 6 %...Last I checked BAC's PM was -22% or something...Then go and tell...Goldman Sach's can't make 22% anymore either!!!!
These people make me SICK!!!!
They have no idea what makes a Democratic Republic function. they have no idea what free enterprise amounts to...
Oh wait...they are Socialists!!!
I had an experience with them..and Wells Fargo many, many years ago...and swore I'd not do biz with them again.
Many, many years later...BAC buy's my home loan...and Wells Fargo becomes my last car purchase loaner.
So far no issues....but I won't do personal banking with them. Ha!!
Maybe he can tell my business to earn 6%. I would love to double my margin.
“Obama is a socialist” - see link http://www.americanthinker.com/2011/09/obamas_fascist_economy.html
I hate Bank of America. Hate, hate, hate. BUT... let the market decide. If their customers are unhappy enough, they will leave.
The man is just an idiot. Pure and simple.
Just ask him.
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