Interesting ..I post a question regarding Banks Collecting Over Draft Fees and get slammed for being a liberal?

Interesting ..I post a question regarding Banks Collecting Over Draft Fees and get slammed for being a liberal?

I'-m not a Liberal.. My check Book is Balanced.. but that does not remove the fact that Banks use predatory tactics... admittedly, when calculating Over Draft fees.. but once again The Azz Kissing Yahoo Community comes to their rescue ?The same people that scream "-Socialism"- but defend bailing out Banks with Your Cash,..The same banks that post 38 billion in over draft fees, but then pay back their Bail out Monies with Profits from said tactics ..I work In Banking..In fact I work for a "-Direct"- Lender in the Auto Industry and I can tell you first hand that Banks are out to make profit any way they can ?what is wrong with Americans...

Armchair

I've been fussing about overdraft fees because of how the checks are processed after the banks close, and the largest amounts are processed first--a practice that was explained by a bank teller when I was attempting to help my daughter with her account a few years back. We have to get credit for deposits only during banking hours, and if the deposit is made after 12 p.m. (or 2:00 p.m. for some banks), then it does not get credited (nor does it draw interest) until the following BUSINESS day, but banks process incoming checks off of your account AFTER HOURS and begin counting IMMEDIATELY if their processing causes a negative balance instead of waiting like we have to wait for the NEXT BUSINESS DAY. Union Planters, in Maryville TN, had charged my daughter seven overdraft fees ($39 each I think it was) because the largest check, which was written last, was processed first and then all the smaller ones weren't covered, whereas if the smaller ones had been processed first, they would have all cleared, and my daughter had written the largest one after the bank had closed, thinking she would have time to deposit her paycheck the next business day (she wrote the check on a Saturday night late for her rent). I negotiated with the bank to take off all but one, arguing that if they had followed the date sequence, she would not have overdrawn at all, but needless to say we switched her to a different bank.To his credit, President Obama is trying to get Legislators to enact legislation taking this giant candy trough away from these spoiled-brat fatcat (used to being deregulated) banking executives and is also trying to re-regulate the very powerful (and also spoiled-brat) 1300-strong for-profit insurance companies---political courage that is rare in politicians these days. Reforms are DEFINITELY needed! Maybe if we keep providing input about these predatory practices and complaining loud enough and long enough we stand a chance of getting some changes (some re-regulation and oversight) into place---especially during election years when politicians try to curry our votes by paying attention at last...lol. This is going to be a tough one to get under control because of all the years they were allowed to operate without any checks and balances, but I honestly think we now have a president in President Obama who is willing to confront the issue--just as he did with the credit card companies early last year by signing the law against predatory fees or practices which took effect February 1st. BTW: I am a liberal to moderate, and my checkbook is balanced, too...lol.

Evil

It happens to me all the time, you post a question and some seem to think they can read your mind in a sentence or two. They just react emotionally and don't think. They don't have the capacity to understand an issue and just insult you because of it. Brainless and dickless wimps can be found on both sides of the aisle.I am firmly in both camps, just depends on the issue. A Libertarian with a stained soul that avoids commercial banks whenever possible.

Bopped

Your observations regarding the posters is the impact of generations of inbreeding. Couple that with the anger they experience after the divorce and you have some very confused folks. Imagine getting a divorce then discovering you are still brother and sister!!!

MINDY

Some people love the banksters and stay with these too big too fail monster banks.Not me, I bank with USAA and a Credit Union. They treat me well.Best thing to do is bank with a small local bank, Credit Union, or if you are eligible USAADown with Citi, Boa, Chase.. etc.

justine

Don't have an overdraft and no overdraft occurs therefore negating a need for an overdraft fee in the first place , See its simple but little leftists like you just have to make things much more complicated than they appear don't you .

Gods

Ok genius, you criticize them for using overdraft fees to pay back their TARP funds....tell me how you want them to pay back their bail-out money if they can't use their few sources of revenue to do so.

Uncle

So what's your beef then?Banks gotta make money. They can do it by charging monthly fees or by overdrafts. 20 years ago, I used to pay a bank $16 per month for checking account fees. Now checking is mostly free. They make up the difference with penalty fees. As long as customers are aware of it going in, I don't see the issue with that.I personally got sick of the penalty fees. Yes, I overdraft maybe 3 or 4 times a year. Fortunately, I chose to go with a credit union, which is a co-op. Instead of $29 overdraft fee, it's $2.Now banks do some shifty things, like ordering payments to incur the most overdraft fees, and applying CC payments against the low interest balance vs. the high interest balance. Since they failed to clean up their act on this, I think the reforms enacted by Congress were appropriate.

barry

liberals, thats whats wrong with americans

Ask

insurance

Popular Q&A

How can I become a licenced insurance agent in California?
I'm surprised that you've been working in the industry for almost two years, and don't understand that you "get your license" by passing a basic competency test given by the state.The only "advantage" of having the license, is the possibility of being promoted and taking more responsibility...

All-new Civic's fuel consumption is as good as the company claims?
Interesting question, because the user reviews vary so widely in the answer to this. I like the reviews by users on Yaho! Autos (see link below).My personal experience (I have an EX coupe) is that I get better mileage than the EPA rating. I get 34-35 in town and 40-41 on the highway on a...

Behind and trying to catch up on the bills?
Stop spending money on non-essentials and pay those bills with the highest penalties first and get rid of the credit cards - go to soup kitchens to eat if it gets that bad. Get rid of the car if public or other transportation is available.It takes financial self-discipline and strength of...

Will florida suspend my liscense if I cancel my sr22 insurance that ohio requires me to carry?
If Florida has not specifically required you to carry SR22 insurance, then they should not cancel your license.That being said, you had better be 100% sure that you did not sign something saying you were going to continue to carry it. It has been a while since I have been on MyFlorida.com...

Portland maine+car transport for senior citizens?
^&^&^&Elders donate their cars, get free ridesBy Christine Vestal, Stateline.org Staff WriterAs his health declined, Irving Anzmann of Portland, Maine, decided it was no longer safe to drive. But he still needed to visit a dialysis center three times a week. It was there that he learned about...