Wow! What Will They Think Of Next?

Just read this little post of Yahoo! Finance and, boy oh boy! They keep finding new ways to stay in black while customers are still in the red!

Who is "they"? The banking industry...you know, the ones who are also charging debit card users and online banking users astronomical account fees to cover purchases and payment. Take a moment to read this article, if you please; I think it's important you know what's happening: "5 Evil Things Credit Card Companies Can Still Do".

This is what's happening - there is legislation that limits some of the fees and rates charges on existing balances, protections for new account holders and how often increases on rates can occur on older accounts. There are still late payment fees that will apply and any other action a bank may have to take on delinquent accounts.

But, in light of the legislation that has been signed into law, our friendly bankers will now be able to charge for not using your card in 12 months, for not carrying a minimum balance or even for not charging enough in a 12 month period!

This is outrageous! I think we don't really need the banks to tell us they want us broke anymore, do we? They have no interest in how you and I live as long as they can charge us for ridiculous and, in many ways, frivolous fees so they may make money.

Obviously, no amount of law-making is going to protect us from these guys so I think it's time we look to alternative ways to bank utilizing more local banks & credit unions since the top players are just going to keep abusing our relationship with them.


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