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Banking Scams That Cheat The Customer
Gangsters in the banking system
For many years banks have been stealing money out of personal accounts with little recourse to get your money back. They justify it by saying your account was under funded, and then nail you with a charge of $35.00. They add service account fees on a free checking account and then tell you it was always supposed to be charged but you were missed for some reason. Their fees bring you below a balance needed to pay a check that is going to come in for payment then when there isn't enough to cover the check you get hit with the insufficient funds charge. When is it going to stop? When you deposit a check they hold the money for 3 to 5 days on average before allowing the money to be used. This is just another way to rob the poor to pay the pensions of the gangsters running the banks. There is no reason in this day and age that the bank cannot do an e-check verification and credit the money immediately. This is the age of electronic transactions. There is no reason to hold the money other than to rob the poor.
The banks cheated people on mortgages. They were failing because of giving out bad loans to people that were bad risks, CEO's were pocketing money but we can't charge the banks for being a bad risk, or for having insufficient funds. No, we give them government bailout money in the billions, just to have them pay big pensions and then close the doors. When do we get our money from the banks that cheated the American people? How do we get our money back form the gangsters at the banks that continually add fees to our accounts without notice?
The gangsters in the banking system these days are no different than any thug on the street that robs someone, or robs a bank. The person committing the robbery could see 20 years or more in prison. If someone was killed during the robbery they could get life in prison. Why can CEO's of banks, or bank managers rip off the general public every day and not serve a day of prison? They continually rob customers of their private funds with no recourse. What happens when someone out of work, receiving no income on a regular basis gets so stressed out because the bank keeps robbing them of their money that they commit suicide? Will the bank Manager, or President, or CEO of the bank go to jail because a death occurred as a result of the robbery? I doubt it!
Another way the banks rip you off is by not crediting cash deposits until the end of the day or the next day. There is no reason that a cash payment cannot be made available within minutes. They entered the deposit electronically, so they have the ability to make it available in your account too, but they don't. They rip you off by charging multiple insufficient funds charges by not paying out all payments that you had money for and only charging one fee for the one large charge that did not have enough funding. Instead they take off the most expensive check so the other payments will not be covered. They hit you with an overdraft charge for maybe 2 or 3 checks instead of 1 check because of the order they choose to process the checks. It doesn't matter what order the checks came into the bank on the same day, they will always process the larger one first.
The fat cat gangsters are getting rich on the poor people's dollar and the government doesn't do anything about it because most of the government is corrupt too, or incompetent to deal with such problems. This is the problem with an overgrown government. In the meantime the unemployed, the low wage earners, the poor that continue to count on every dollar to live daily are being ripped off by the billions and nothing is being done to stop it.
I don't care if you have one dollar in the bank or 500 million in the bank, to be ripped off is wrong and everyone has a stake in putting a stop to this practice. After paying billions of taxpayer dollars in bailout money to the banks, the banks should be paying account holders a monthly fee to return the money we paid in taxes to keep them a float. We should never see service charges again until all taxpayers were paid back. We should never be charged for more than one insufficient funds fee, and a fee that is reasonable. Why should we be charged $35.00? I understand there is some time involved for an employee to deal with the overdraft, but it doesn't cost $35.00. You should also have time to rectify the one overdraft before they attack you and rob you with more fees. The banking system is corrupt and that is part of the economic problems that we have in this country. It needs to stop!