Banks Avoid New Credit Card Regulations By Increasing Debit Card Fees

**1KielsonDrive** · July-02-09, 01:55 AM

Sstash, you make it sound like I said corporations shouldn't make a profit. I not only didn't say that, I didn't imply it. The key is how they make it. I don't have a problem with a corporation that's honest with me and it's customers. I have a problem with a corporation that runs roughshod over people. The banking industry has a well deserved reputation for unethical and unfair [[not necessarily illegal - they have the lobbyists) business practices. You could add the insurance industry [[my family business) to that list. In fact, in most cases, you can lump them together. If you've had good working relationships with banks, more power to you. I used to do business with smaller, more local banks [[including NBD, which wasn't that small), where I actually knew the officers and employees, and it was fine. I believe the same rule applies to banks as to most other transactions today - keep it as local as possible. I've been a member of my credit union for 40 years. They serve me just fine. If I start another business, I'll need a bank. But I'll always keep them at arms length and use them minimally.

**mjs** · July-02-09, 02:48 AM

Proponents make it sound like people are coming to these guys for their banking needs; the truth is that people can't find places to run. People leave them and go to other banks; they write legislation to buy out the other banks. People leave them to go to credit unions; they write legislation to making it harder to be in a credit union. Other lenders dump them because they take irrational risks; they write legislation forcing money into their reserves. You know they're text book evil because they can't be killed. We don't need politicans with hole filled bills; we need priests with holy water.

**gibran** · July-02-09, 08:04 AM

Newsflash: Insurance companies are Socialistic...ummm how can I say that...well don't they increase rates according to natural/social conditions....like if there is hurricane damage in one area of the country they rates rise according to all local [[cooperative) memebers?...ummm...if there is an increase in payouts one year there is an increase in rates...

how about Banks ...don't they collectively raise rates and fees according to social conditions...ummm our free marketers have been duped by the very organizations they love ...dam that socialist government of ours they must have taken over insurance companies now too.

Lorax · July-02-09, 10:35 AM

Originally Posted by Sstashmoo

Quote: "the lines are 50 deep every day"

You own several corporations and have to go to the bank every day and stand in line?? Oh F that is funny..

Quote: "I did pull out four accounts,"

Quote: "they were begging me to stay. "

You should have, I understand they'll give you an AM/FM radio or beachbag, your pick.

I deal with a bank, absolutely no problems whatsoever.

Your assumption that I went to the bank every day to encounter lines 50 deep is cute- I only had to do that a couple of times to realize I wasn't going to deal with it. It was every time I was there, and that's what mattered to my time management.

Like I've said, you're still batting a perfect game in the Either/Or category. It's all black and white, absolutes in your world. Gosh, it must be frustrating being you.

"I deal with a bank, absolutely no problems whatsoever"

Yeah, I'll bet you deal with a bank alright, maybe the Schnitzelbank.

Or perhpas the one that only accepts nightly deposits

.

ccbatson · July-02-09, 09:02 PM

Lorax, you left BoA and went?? Where? Another American bank? Nope, a Canadian bank. Coincidence?

Using cash? sure, or spend within your budget and never rotate payments.

Lorax · July-02-09, 09:06 PM

Originally Posted by ccbatson

Lorax, you left BoA and went?? Where? Another American bank? Nope, a Canadian bank. Coincidence?

Using cash? sure, or spend within your budget and never rotate payments.

I don't take or use credit cards, and built a business over 25 years that is paid for and loan free. I sold one of my businesses last December and did very well, since it had no debt.

If I can't pay for it in cash, I don't buy it. The only exception was my last mortgage, which is the only debt I have.

I walk the walk.

ccbatson · July-02-09, 09:09 PM

And you don't mind funding people who don't "walk the walk" under the direction of an ever expanding government that villainizes achievement and elevates dependance?

Lorax · July-02-09, 09:17 PM

Originally Posted by ccbatson

And you don't mind funding people who don't "walk the walk" under the direction of an ever expanding government that villainizes achievement and elevates dependance?

I would if that were the case.

I'm the first to admit Obama didn't go far enough- the banks need to be nationalized, and whatever emerges needs to be heavily regulated before turning it back to the private sector.

After what I learned today about Goldman Sachs, and how they were the ones who engineered this whole fiasco, that would be reason enough to shut them down immediately.

They were actually hedging bets on the very subprime loans they approved. They participated in hedge funds that specifially targeted their own loans, betting they would go bust, which they did, then got their bacon saved by the Bush Crime Family on the way out the door. Henry Paulson personally took home over 700 million bucks for his efforts.

The chairman, some dude named Fuld walked out with 1 billion +. And the Rethuglicans think it's just great. Unless it's in your pocket, it ain't that great. 'Cause it ain't happening to you- ever. These people are criminals who drink from the public well, then slap the taxpayer's face. They should be jailed, bankrupted, and humiliated- and not necessarily in that order.

ccbatson · July-02-09, 09:20 PM

So you think that the recipients of entitlements and welfare have earned the right to take your property? Wow? They really have you hornswaggled.

Lorax · July-02-09, 09:43 PM

Originally Posted by ccbatson

So you think that the recipients of entitlements and welfare have earned the right to take your property? Wow? They really have you hornswaggled.

I lived the first 30 years of my life as a mercenary in Angola, which was before I slept with Madonna, but after I single handedly saved the planet from nuclear attack from outer space.

Did that make much sense to you? About as much as your post did. What planet are you living on, and what does your post have to do with anything I, or anyone else said? Geez.

You need to buy a better quality Ripple.

**Sstashmoo** · July-03-09, 12:01 AM

Quote: "If I can't pay for it in cash, I don't buy it."

Translation: My credit score sucks..

Lorax, You must wear a "kick me" sign, again you are on a campaign to do yourself in. You preach socialism and how the government should take over some businesses, and you claim to own several. Want the government to come in and take over? That is what you are advocating. That is how it is in China, open an business and you have an immediate partner, the Chinese government. Anything you develop that would be considered proprietary here, becomes immediate property of the government. That's why they don't develop anything.. er see what Batts is trying to say? Socialism kills the drive for individualism. There is no incentive to become or be anything. Just survive.

**jams** · July-03-09, 06:22 AM

Odd, I've been reading several articles about the rise of the "Me Generation" in China, sons and daughters of the wealthy and middle-class there. They seem selfish enough.

Lorax · July-03-09, 09:27 AM

Originally Posted by Sstashmoo

Quote: "If I can't pay for it in cash, I don't buy it."

Translation: My credit score sucks..

Lorax, You must wear a "kick me" sign, again you are on a campaign to do yourself in. You preach socialism and how the government should take over some businesses, and you claim to own several. Want the government to come in and take over? That is what you are advocating. That is how it is in China, open an business and you have an immediate partner, the Chinese government. Anything you develop that would be considered proprietary here, becomes immediate property of the government. That's why they don't develop anything.. er see what Batts is trying to say? Socialism kills the drive for individualism. There is no incentive to become or be anything. Just survive.

"Sstashmoo And The Doctrine of Either/Or"

Sounds like the title of your new book. Sorry, we've all "survived" the last 8 years of a radical fascist agenda under the Tushies, so, we don't need to re-live it again just six months after getting rid of it.

Gee, if my credit sucked, how is it that I'm offered such amazing loans, at lightweight interest rates everytime I open my mailbox? Do you think these "offers" are not genuine? My PB pulled me aside [[this is the new bank, TD) just this week, and tried to sell me on a loan. Sorry, don't need it. As I mentioned, I pay cash, and my businesses have NO debt. I personally have a mortgage, that's it.

If my credit has suffered, and I don't really care, since I don't live my life by what my credit score is, then it's because I've never taken out cards, and thus, never carried balances.

Sounds like another spate of jealousy on your part.

Now, as I understand, BofA is going to charge a per-tansaction fee for using your DEBIT card! Really amazing-they drink from the public well, and then want us, through new fees, to help pay back OUR OWN MONEY!

You go right ahead and believe in your backward, bankrupt corporate fascism all you want. I'll do it my way.

**mjs** · July-03-09, 09:35 AM

Jams, I've been keeping an eye on the same thing. PBS had a really good episode on it. I think it was Frontline. As the older generation dies out and the younger generation gains experience and power, a culture clash is most certainly coming. Tianneman Sqaure was like the tremor you get before a massive earth quake. Just as earth quakes are caused by massive shifts in the plates, this will be caused by massive shifts in the culture as they move from a more agrarian society to a more industrial society. Walmart just might bring down communism in China.

Lorax · July-03-09, 09:43 AM

[quote=mjs; Walmart just might bring down communism in China.[/quote]

That's quite a stretch, sort of like saying Reagan brought down communism in Russia, when we all know it was the arms race, and a collapse of their economic system.

Gee, that sounds familiar- perhaps we can credit George Tush with bringing down Democracy. That's more like it.

**mjs** · July-03-09, 09:47 AM

Lorax keeps talking like owning a business is something special and you guys keep debating him on it. Any moron can open a business. Give me $250 and I'll have you legally set-up as a business owner within 48 hours. I know of a few "business owners" that opened their business after they couldn't find a job because they were fired from 15 different places. I can easily see myself firing Lorax after I tell him to do something like empty the trash cans and he refuses and goes into a tirade on Bush and Republicans and the fascists running the company. Just shut the hell up and empty the cans.

Some for being offered a zero percent credit card or a business loan. It means he's not carrying a balance on anything. Good for him, but its not some feat of genius.

**mjs** · July-03-09, 09:51 AM

Lorax, it was just a poetic way of saying that communism collapses when its leaders aren't able to keep the people from seeing the light of reality. Participation in an international economy does that. You don't even realize how much the First Amendment provides for you.

Lorax · July-03-09, 09:53 AM

Originally Posted by mjs

Lorax keeps talking like owning a business is something special and you guys keep debating him on it. Any moron can open a business. Give me $250 and I'll have you legally set-up as a business owner within 48 hours. I know of a few "business owners" that opened their business after they couldn't find a job because they were fired from 15 different places. I can easily see myself firing Lorax after I tell him to do something like empty the trash cans and he refuses and goes into a lecture on Bush and Republicans and the fascists running the company. Just shut the hell up and empty the cans.

Some for being offered a zero percent credit card or a business loan. It means he's not carrying a balance on anything. Good for him, but its not some feat of genius.

First of all, I don't appreciate being called a moron.

Since you know nothing of my business, you really can't assume, but since you go there, you tell me alot more about YOU than you'd probably like.

I'm not the one "going on" about owning businesses, you guys are, and you seem to like baiting people to satisfy your own sense of worthlessness.

It's Friday, I gave myself the day off, so I can spend it with you, and if I feel like it, I'll give myself Monday off as well.

A little gratitude and humility might suit you better.

**mjs** · July-03-09, 10:01 AM

I didn't say all business owners were morons, just that any moron could own a business. The successful business owners aren't morons. For all I know, you own six businesses, make half of what you did before you were fired, and live in a van.

I notice you give yourself alot of time off and I also noticed that in these times, alot of folks are doing their own menial work.

**Sstashmoo** · July-03-09, 10:06 AM

Quote: 'Any moron can open a business."

You nailed it. The talent is in actually making money, and sustaining it. Anyone can go through the red tape and secure an SBA loan[[ I think those are still available, maybe not). Those are always the easiest to spot, they blow money like a drunken sailor for a few years, then all of a sudden "things are slow". Then comes the auction.

**Sstashmoo** · July-03-09, 10:09 AM

Quote: "I'm not the one "going on" about owning businesses,"

LOL, you are seriously deluded.

Lorax · July-03-09, 10:33 AM

Originally Posted by mjs

I notice you give yourself alot of time off and I also noticed that in these times, alot of folks are doing their own menial work.

Tell me, cleaned any interesting toilets lately?

Lorax · July-03-09, 10:36 AM

I have a confession-

I am banging away on this laptop under an I-95 overpass, and only take enough time off to beg for change and take a whizz at the drive-bys that tell me to get a job.

I lost the van a couple of months ago.

My dealer is coming, so I have to go now, he wants my change, since I owe him for the rocks he gave me yesterday.

**Meddle** · July-03-09, 01:19 PM

Originally Posted by 1KielsonDrive

I'll repeat what I said before - stop using banks. Stop chasing deals on credit cards. The banks will only screw you. They don't want to give you free miles and cash back. They want you to believe they're going to - and then they screw you. It's all a marketing illusion.

I pay all of my bills every month by credit card, utilities, vehicle gas, groceries, everything. Then I pay off the CC bill every month and collect the rebates. It's only 2 or 3%, but it adds up. I pull out several hundred dollars a year. I don't pay fees or interest. In effect, they pay ME to use their cards.

**vetalalumni** · July-03-09, 06:17 PM

Originally Posted by mjs

Lorax keeps talking like owning a business is something special and you guys keep debating him on it. Any moron can open a business. Give me $250 and I'll have you legally set-up as a business owner within 48 hours. I know of a few "business owners" that opened their business after they couldn't find a job because they were fired from 15 different places. I can easily see myself firing Lorax after I tell him to do something like empty the trash cans and he refuses and goes into a tirade on Bush and Republicans and the fascists running the company. Just shut the hell up and empty the cans.

You are funny here [[underlined above) mjs, because you are keeping your snipping sort of light-hearted and seemingly without any real animosity.