Comments on: Why Are Banks Raising Fees?

As Citigroup and Bank of America Post Huge Profits, Why Are Bank Fees Going up?

[Henri_Rochard]

Hi Darth,
You are correct on the 40th anniversary of MaryJo Kopeckne's death. (I hope I spelled that correctly.)
Will we see coverage of this in the major media ??

[tmittelstaed]

Why? I have all my banking with Bofa and as I posted earlier it's been years since I've paid any bank fee other than mortgage interest. Just keep a decent balance in your account, there's no trick to it.

[tincup356]

Americans had better learn real quick,,,,,,BOTH parties are corrupt and NEITHER party represents the people......WHY are people still supporting the crooks that caused all the mess we are in , to begin with? Have they not proven beyond a shadow of a doubt,,,,,they don't care about the people,,,they ONLY care about personal gain and greed.It is time to rid Washington of ALL of them.

[Turbidite]

Obviously you have never been introduced to "vig" and its consequences for default on payments.

[Turbidite]

It seems that the laws against theft do not apply to banks. We should be charging them fees, on an individual basis, not through the government. The government is an even bigger thief. There is no difference between Republican and Democratic government. They both run a steam driven, pile driving machine to suck as much money from the public as possible.
Those fellows inside the Washington beltway sit an laugh every day at how stupid the American taxpayer has become.

[HGOODGUY]

WANNA KNOW WHY BANKS ARE RAISING FEES?????

IT'S VERY SIMPLE--BECAUSE THEY CAN!!!!!

[pepperwood2]

Wall St. to Taxpayers: "Thanks for the Bailouts, Have Some Higher Fees"

Wall Street is responding to new proposed regulations in classic form: They're trying to circumvent restrictions on compensation and want to pass along the cost of compliance to their clients, namely you and me.

JPMorgan Chase has informed clients its raising fees on balance transfers and cash advances to 5%, the highest among the nation's big banks. (Earlier this month, Bank of America raised similar fees to 4%.)

In a notice to customers, JPMorgan cited "new federal regulations" as the rationale for higher fees, The LA Times reports.

Get used to being nickled and dimed by the banks (even more than usual), says Diane Garnick, investment strategist at Invesco, who notes deflation has hit every other asset class in the past year, save ATM fees.

"We're going to get hit with all of these small fee coming from the banks," she says, noting banks' institutional customers are both smaller in number and much more cost conscious after the credit bust. "The way we're going to see these fees really come about will be on the retail side.
They're saying, the people who borrowed from Mastercard to pay Visa -- the little guys -- we're going to bump those fees all the way up."

Higher credit card fees: Think of it as just one more way of Wall Street saying "thanks" to the American taxpayer for bailing them out last year.

[South-of-Heaven]

Everyone needs to cancel the Credit cards in protest,
Reguardless of political offiliation.
im cancelling all my credit cards,
this is ridiculous and borderline criminal,
they used our $$$$ for the Bailouts.
they should be rewarding me for this.
F.ck the banking companies.
keep your interests and your overpaid CEO's
ill keep my cash in my pockets...

It should be clear by now that as Senator Durbin said "They own the place". Thankfully, they are gracious enough to let us hang around as long as we keep giving them more of our money. Thank you banks, thank you very much.

[xlib]

There ya go, big fella. Out there posting on your own. Now, you just posted your opinion and previously you posted for someone to "shut up and keep their opinions". That's how you want it? Silence anyone who has the AUDACITY to have a differing opinion?
So, the banks are BAAAAAAAAAD!! But a huge,bloated government that takes are money, a government that is in bed with the banks, that's GOOOOOOOOD!
See, I am of the OPINION (and it is merely my opinion)that there isn't a rat's behind bit of difference between the big A banks and out now, bloated, power hungry government.
Now, that's my opinion and that's what this site is for.

[xlib]

Because it's called "sharing the wealth". See, those who got the subprime loans, thanks to the Community Reinvestment Acts of the 70's &n 90's, really should not have been given those loans.But hey, it's only fair.
Remember, it's all about sharing the wealth. Now, go out and work, pay taxes to make up for the 47% who don't pay taxes.

[xlib]

And wasn't it the dems in power in congress right there?? Do think so. Why, I remember my own chuckie schumer coming out (he wasn't reduced to tears like at the sotomyor hearing)about how something needed to be done. See, you dems keep ignoring your own party's part in all this mess. Looks like to me that your thug administration is really enjoying this whole meltdown.
As for AIG, well, I do believe that congress has/had a big part in that whole mess.
And, if the first bailout was so gosh awful why are the subsequent bailouts and take overs good now??
Typical libtard reasoning.

[RCC_Soldaten]

Greed - Corruption and a Lack of Faith

[ubrew12]

They raise fees because of a lack of competition. The entire finance sector overreached itself, the entire sector fell flat on its face, but only certain banks were picked back up by the government (no questions asked!), the others were left to die.

Lack of competition: the lucky 'survivors' can now charge whatever they want.

[John_Merritt]

'As Citigroup and Bank of America Post Huge Profits, Why are Bank Fees Going up?'

SIMPLE ANSWER: Because they can.

[sd92129]

Can someone tell me why these corporate goons are not sharing a prison cell with Bernie Madoff? The banks are ripping off the public just as he did!

[tbbaot]

When Washington delayed the banking bill until next year, they gave banks the time they needed to figure ways to go around the changes. This was done on purpose after closed door meetings with the bankers. The bill was supposed to make Congress appear on the side of citizens when in reality it's the bankers they serve.

[clarkalex]

Someone want to tell my why people still do business with Bank of America? These crazy fees from BoA are nothing new. There's been a lot of press about BoA and their arrogance. WHY HAVEN'T YOU MOVED YOUR ACCOUNTS TO A DIFFERENT BANK???
Stop doing business with BoA and Citigroup. Get off your behinds, do a little research and a little legwork and find a local bank that doesn't do all this crazy stuff. There are plenty out there.

[tmittelstaed]

Why? I have all my banking with Bofa and as I posted earlier it's been years since I've paid any bank fee other than mortgage interest. Just keep a decent balance in your account, there's no trick to it.

[grabandgo]

nobama anbd tax cheat timmy gave these banks a green light to do whatever they want. We are now living in the nobama nation

[scottyusa]

The stimulus and bank bailouts was the biggest hoax yet. The banks have done nothing but screw their good customers. They are not interested in fixing anything. It is all about profit. I for one use a credit union. The banks can go to hell