27 January 2008

Bank's Solution for the Credit Crunch: F$%k the Small Depositor

Yep, they banks are looking at implementing new larger fees on holders of small accounts.

I guess that they need to stick it to the little guy because of all the money that they are losing on the high rollers that they gave exotic mortgage packages to.
Today, the average ATM fee is $1.78, while five years ago it cost a little more than a $1 to retrieve money from a bank with which you didn't have an account.

In some areas, JP Morgan Chase, Bank of America and Wachovia fees have hit $3 for non-customers.
Bankers and the Sirius Cybernetics Corporation, the first up against the wall when the revolution comes.

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