Forum Post: What The Hell?
Posted 13 years ago on Oct. 25, 2011, 9:59 p.m. EST by supersad
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I'm a Caucasian, college-educated middle-aged male. I work for a state welfare office and have to live in a small room as a border. After taxes, I earn about $1,400/mo. Apartments around where I live go for about $1,200/mo. The other day, I came across a welfare application from am individual who had incurred $280 for the current month on Bank Of America overdraft charges. I can't believe that there are individuals like myself...eating Top Ramen every SINGLE day and living like a dog, others who hardly have food, but have overdraft fees to the tune of what I earn in a week. WHAT THE HELL IS GOING ON???? What can we do? I'm gonna cry now.
Ask the Republicans to give the rich another tax break then join the Army and to war so the very same republicans can praise you only so you can come home and get screwed by them and the wealthy coorporations.
We protest against economic injustice.
Frankly, both banks and credit unions have dramatically raised their fees over the past 10 years. Fee income is part of the banking system "triad" of income: interest on loans, interest on investments, and fee income. Fees are automated and the computer keeps charging away based on parameters. The overdraft protection programs are now a fee-based system, not interest-based, because it is extremely more profitable that way. In the credit union business, these are called "courtesy pay" and very lucrative. You have to ultimately pay, or your credit rating gets screwed up. /s/ Former Bank & Credit Union External Auditor
I would have to ask in which city you live? $1200 is reasonable in the Northeast whereas $600 is reasonable in the Midwest.
Top and bottom 10% get all the perks