It’s not that the government was thinking you might be paying too much, to your bank.
Rather, it’s just that banks contribute to legislators, so they evidently felt they owed them a “thank you” ….. trouble is, it was our money they thanked them with …. again!
Banks use to compete with each other. Under this Obama / Reid / Pelosi et. al, ….. they no longer have to.
Our legislators are making sure of that. What they did was legislate how much the charges are for processing fees on debit cards! You can feel safe to bet that the banks won’t be complaining!
Sure was nice of them to take care of their donors, WITH OUR MONEY ….. wasn’t it?
Even 17 Republicans went along with Senator Dick Durban’s “non-tax, tax!” He’d hoped, along with all the other “legislators” . . . . . Or should I say “corrupt politicians”, …. that you wouldn’t notice! And just as I was beginning to use my debit card, rather than write so many checks …
Should consumers want to show disdain toward this contempt, . . . . USE DEBIT CARDS only for emergencies. TWO CAN PLAY THIS GAME!
The federal policy on payouts to us citizens favors use of debit cards. Okey, senior citizens would walk to local bank to draw out cash, then wiseguy thieves would follow them old timers to roll them for the loot. So instead, the bank robs us through their debit card system. Not sure we are much ahead.
Still, our representatives in D.C. have no business raising our rates for using our debit cards. It’s a payoff to their bank buddies.
I agree 100%! Okey, so you get a debit card to avoid credit card charge of 35% on borrowed money. Debit card, bank charges $35 when they create fee, and they charge $7 per week for each $35 charge. That is 1,000% interest rate on penalty!! Don’t get me started on the banks! Bank robberies happen each time we step into a bank!