In an effort to protect their record profits, banks might soon charge you for the privilege of having a savings account.
I know what you're thinking: Banks already charge customers outrageous fees for the privilege of having bank accounts. But if the Federal Reserve dares to try and help the economy by cutting a special interest rate it pays banks, fees could get even more outrageous, the Financial Times reports (subscription only). Such a move by the Fed would lose banks some easy money, and they could take the difference out of their customers' hides.
Not only do they give almost non existent interest but now want to charge us for putting our money in the bank. They use our money to charge outrageous interest on loans.....robbers!
http://www.huffingtonpost.com/2013/11/2 … lp00000592
Then don't use a savings account. That's easy.
Yes that's the obvious answer,but why isn't govt intervening?
They were bailed out and still want more from us..
Govt. does not normally interfere in business, particularly by setting pricing. Although it is dying fast, there is still a feeling that the American citizen is capable of making decisions themselves.
If you wish to pay a bank to hold your money for you, do so. If not, don't put it there.
OMG! Can I believe what I read?
Wilderness, step away from the table. Leave the bottle!
Government does not normally interfere in business?
Can you name an entity that interferes more?
Notice I did not say shape business practices - obviously the consumer does that.
My checking account is my savings account.
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