Tuesday, October 6, 2009

Banking's Deaf

In today's New York Times is an article about pre-paid debit cards, or cash cards. How this is the new way for banks and the financial industry to ding owners of these cards (and oh, surprise, surprise, surprise, most people who have these cards are unable to open accounts at banks and are usually poor!). Activation fees, monthly fees, fees for using ATMs, fees if they go over the amounts on their cards. Yikes!

The financial industry is deaf. They clearly can not hear that we are more than fed up. Or maybe the problem is we're not mad enough.

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