Unfortunately, the weaker people are, the more they pay, and the stronger they are, the less they pay - when it comes to banking, commission and management fees, and in every area of our lives.
Banks now want you to pay for face time, as more institutions charge fees for what was once the ritual for withdrawing and depositing your money: interacting with a teller.
Last year, Congress passed a law that directs the Federal Reserve to set limits on debit card swipe fees that are reasonable and proportional to the cost of processing those transactions. Like most Americans, I had no idea that swipe fees charged to American businesses are the highest in the world.
There is something inherently wrong with having to pay a bank to give you your own money.
American businesses and consumers deserve a debit card system with competition, transparency, and reasonable fees.
A lot of people don't love their bank.
Banks can't recoup the costs of serving customers who save in small amounts and transact frequently.
Citi is the cheapest large bank.
Folks can't carry around money in their pocket. They've got to go to an ATM machine, and they've got to pay a few dollars to get their own dollars out of the machine. Who ever thought you'd pay cash to get cash? That's where we've gotten to.
