Bite of bank fees
June 28, 2009 | Washington Post, alternatives, industry | Comments (0)Has caught the attention of the Washington Post. From the front-page Sunday story:
Customers are paying more to maintain a checking account and withdraw cash from an out-of-system ATM, and when they bounce a check. To make up for declining revenue, many banks are boosting fees and are requiring higher minimum balances for many accounts.
The institutions also have made it easier for customers to spend more than is in their accounts — and then hit them with substantial fees, a practice so vexing to consumer advocates that the Federal Reserve is thinking of regulating it.
Best move the Payday Pundit ever made was joining the Congressional Federal Credit Union. (The Payday Pundit worked on Capitol Hill for many years.)
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