If this aint the perfect example of American greed I don’t know what is.
In 2012 Bank of America, which is one of the largest banks in the country will begin charging a monthly $5 fee for customers who use their debit card.
The charges will be applied to customers who use their card to make a purchase at any given time during the month. It will not be applied to those who only use their cards strictly for use at an ATM.
These new fees are a result of recent regulations passed through the Dodd-Frank Act that changed the way that the banks can charge money for overdrafts and other fees. Another one of the rules that is being put in place by the regulations is that there will be a cap on what banks can charge for debit swipe fees.
So basically what it boils down to is that the rich folks keep getting rich while the poor folks scramble to stay afloat while getting poorer.
Some government official needs to step in and advise these big business that they can’t keep treating their customers like this.