My son heads off for college this Saturday, and yesterday we visited the Regions bank in Jackson, MO to open a new checking account with debit card. As we were going through the process, Jessica, the personal banker warned us about the impending $4.00 per month service charge that Visa would be adding to our bill starting in October 2011.
The service charge will be added if, during a given month, I use my Debit Card for a general purchase at Wal-Mart, the Gas Station, or at a local Restaurant. I do that practically every day.
Why the new service charge? The costs incurred because of the Dodd-Frank Financial Regulation Bill.
Gee. Thanks guys.
Two men that should be in jail for the Countrywide and Fannie Mae / Freddie Mac scandals created 2,319 pages of legislation that does nothing to protect America from the real causes of the 2008 financial meltdown.
No one has gone to jail; no one has lost their jobs; all the bankers are getting their massive bonuses.
But, you and I, we get to pay more account fees and service charges.
Bend over America; it’s just another way the Democrats and Obama have screwed you!