debit-cards
Prepaid Debit Cards Are a Great Way for Banks to Soak the Poor
Hamilton Nolan · 05/23/12 04:22PMIf ever you become misty-eyed and soft-hearted after watching a few too many soft-focus sunlight-drenched bank ads full of friendly professional women and smiling minorities who've just bought their first homes, it's good to remind yourself that big banks are, fundamentally, soulless robots whose only aim is to extract as much money as possible from you via any tactics they're allowed to get away with. They are the bloodsuckers of the poor. There is no better example of this than prepaid debit cards.
More Banks Scrap Debit Card Fee Idea
Lauri Apple · 11/01/11 09:27AMNow Sun Trust and and Regions Financial have joined Wells Fargo and J.P. Morgan Chase & Co. in deciding that charging customers debit card fees on purchases is a stupid idea, the Wall Street Journal reports. This makes Bank of America the only loser bank among America's largest loser banks to keep its $5 fee plan. Way to stay strong, guys!
Banks: Maybe Debit Card Fees Are a Bad Idea
Hamilton Nolan · 10/28/11 10:46AMNot so long ago, Bank of America decided that a good way to refill its slightly-less-bulging-than-usual pockets would be to charge people a monthly fee for their debit cards. "This won't cause a massive public backlash at all, probably," they thought to themselves, while setting a box of puppies aflame.
Your Debit Card Is About to Start Costing You Money
Hamilton Nolan · 09/29/11 02:54PMBanks Lose in Washington's Most Heavily Lobbied Battle
Jim Newell · 06/08/11 02:43PMGuess Who's Speaking Up on Behalf of the Poor Banking Industry?
Hamilton Nolan · 03/23/11 11:45AMYou may be aware that the banking industry is currently engaged in a furious lobbying campaign to avoid the frightening prospect of being forced to lower the fees it charges retailers every time you use your debit card to buy something. It would just put "unfair profits" into the pockets of retailers, while forcing banks to raise the fees they charge you, the consumer, for every last thing! (According to the banking industry.)