Apparently, banks can charge their customers the amount that a creditor is requesting PLUS their $35.00 ‘bounced check’ fee. Though BoA returns the request from the creditor (they don’t pay the amount requested), they can and do charge the customer. Essentially the customer is paying their bills twice with an additional fee per transaction, if the funds are not available at the time of request.
Teachers and other ten month employees have full time jobs but due to the demand for the services rendered, are not required to work during the summers. Those who work during the summer often find employment that only covers minimal expenses. Thus leaving the seasonal worker without sufficient funds to cover summer expenditures. Banks are capitalizing in a very big way. They are NOT paying out any monies but are requiring that customers pay them monies that they DO NOT have to throw away. If one wants to understand why banks are crashing and/or falling short of their quotas, people are opting to take their money elsewhere to avoid being robbed by the very institutions that they acquired to protect their money.
Banks are robbing the people. What happened to the OWS movement?
SWEET JUSTICE…. “A Symptom of most of the problem”….
These unchecked systems are contributing to the inability of Americans to regain any footing in these hard economic times. The nation will continue to be in an abyss of never ending debt, if our OWN banks don’t revise their manner of business.