For those of you who don’t follow the news & world events, Wells Fargo, Bank Of America, Chase & other big banks are starting to roll out a new feature. But of course this new feature doesn’t benefit us, the consumers of the world. Bank Of America has started charging customers $5 a month just to swipe your debit card at a business. Use it just once in a month, you’re charged $5. Wells Fargo is rolling out a similar plan but rather than $5 they’ll be charging $3. I was a Wachovia customer for a couple of years & was content with banking with them. That all changed when they switched over to Wells Fargo. Service has been horrendous, bank deposits are taking longer to hit my account & not to mention my fiasco when my Wells Fargo branch canceled my debit card for no reason. Now some of you will remember that a few years ago, us the tax payers, handed over $700 BILLION of our money to go towards keeping banks afloat that were the very reason our economy was going to shit anyway. But I understand, from an economic stand point, that needed to be done. I will never be happy about it, as no one should. For those very same banks that we bailed out to say that they’re business is hurting since the Feds have put a limit to how much they can charge businesses per transaction to be able to accept their debit cards is a complete slap in the face to the American tax payer. Using that to try and justify charging the people who saved your asses in the first place money every month to use their debit cards should be a crime. It’s corporate robbery and I will not stand for it. Citigroup, JPMorgan Chase and Wells Fargo each received $25 billion, the largest amount given to any bank. But of course those executives need their huge lucrative bonuses for driving the American economy to shit. I thought it worked like this: Your company does well, you get bonuses & raises. Your company is partially responsible for the real estate & economic collapse in America, you get fired. That is a something I will never understand. When the pizza maker at Domino’s starts making lackluster pizza’s or stops making pizza’s all together, he gets fired. But not these corporate executives & hedge fund managers. They’re the only people in America that can (knowingly or unknowingly) be engaged in illegal & unethical business practices, NOT be arrested and/or charged and get a million dollar raise! Where is the sign up sheet for that? Reject these big banks and their unjust fees, open an account at your local Credit Union that actually wants your business.
Category: World Business News