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.
by Susan Reid6 years ago
JP Morgan Chase is considering capping debit card transactions to $100 or even $50. It's all about fees they charge per transaction, currently $.44 and proposed to be slashed by Congress to $.12.That's a big hit for...
by starme778 years ago
or money that just kind of disappeared from your account and things just didn't add up?
by Gary Anderson8 years ago
Obama slapped them down for putting him in the position of breaking a campaign promise. Yet if we don't raise taxes the government has spent too much into deficit, and the Geithner/Summers message was meant to satisfy...
by Riece6 years ago
I hear people everyday in the bank and on message boards complaining about how the bank is so evil in their overdraft charges. Sometimes it is the bank's fault, but when it is, they reverse the fees. That is a very...
by first million8 years ago
is anyone able save money?
by trcyph8 years ago
How do you feel about depositing your check into your bank accountand having the bank slap a hold on your check for 7 days, cashing the checkyou deposited in 24 hours and then charging you overdraft fees on...
Copyright © 2017 HubPages Inc. and respective owners.
Other product and company names shown may be trademarks of their respective owners.
HubPages® is a registered Service Mark of HubPages, Inc.