Starting November 10 they will be charging a $20 fee all customers who do not have a combined balance of $15,000 (thousand dollars – that is!
Are they out of their mind? No wonder their stock went down by 15% in the last two days alone and by over 30% from the beginning of the year. Just like BofA, Citibank is trying now to recuperate past losses (cause by their own greed and stupidity) at our expense.
I hope this time around they will go bankrupt by loosing a lot of costumers that will move their accounts to Credit Unions; isn’t enough, enough?
I can't believe that the protest against Wall Street is still so anaemic
Petra, there are presently still more people who are doing well for themselves than there are not.
Approximately 15% live in poverty-stricken level and approximately 15% are homeless. That means at least 70% of Americans are either middle class and holding their own or above it.
The homeless are not fighting back, because they have nothing to gain from a system that refuses to even acknowledge the growing problem.
The poverty-stricken are too busy worrying about how to live to fight back.
So that leaves it to the middle class and the upper class to fight this particular battle. Now, considering 20% of American are millionaires, very few of them are going to even fight this battle considering they know how to use the system to get what they want from it.
That leaves 50% of American left and many of them are so divided on issues or just don't give a damn about other people, because they are still doing well for themselves, that it doesn't really matter to them.
So.....I can understand.
If living pay check to pay chek means living well. then there is nothing more to say... Soon enough the banks will charge even more for keeping OUR money and making risky investments and that will bring the 50% that are "doing well" to about 30% which is equal to the 15% homeless and the 15% that live in poverty - I guess the dream of fairness and equity will be fulfiled rather sooner than later
Banks are afraid to lend any money since 2008 and they financial controls in place create oodles and gobs of paperwork so they just up and decide to gouge their depositors in the hope that they won't mind...kind of works like the federal government on taxing folks. Reminds me of the old man that predicted that his hot dog stand would fail and then everything in his power to make the prediction come true. When competition dies, the consumer pays! Thanks Petra. WB
CitiBank has a terrible record of actions which have been found to be illegal, immoral and not in the public interest as do all of the NY banks. Thanks to several bad experiences I've stopped dealing with the NY banks to the extent it's possible to do so. Their dishonest practices plunged the US and nearly all of the rest of the world into a deep recession. They took government assistance and now are back to filling their greedy CEOs pockets and lobbying against the implementation of regulations designed to prevent them from future damaging misdeeds.
well it's time to stuff the mattresses like they did in the first great Depression...
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