[ssaftler]

The cause of this is the new Federal regulation forbidding banks from charging for more than 3 overdrafts per day. The banks need to find a way to cover the costs incurred by people who bounce loads of checks all the time.

OMG! Those nasty corporations are making everyone pay for the sins of the few because the great and benevolent government says that personal responsibility is passe?

[/SARC]

[Cementjungle]

OMG! Those nasty corporations are making everyone pay for the sins of the few because the great and benevolent government says that personal responsibility is passe?

Basicly it'll force many of us to drop the multiple free accounts. My wife and I have 8 accounts... mainly to keep transactions seperate (for our rental properties, business, personal, joint accounts for taxes, etc) to make things easier for accounting. Now, we'll have to run everything through a couple accounts instead (and do more bookkeeping).

[Daisyjane69]

Well, I MIND what they’re doing.

They just stuck it to that taxpayers, with Treasury’s help, settling for 1 cent on the dollar:

http://www.ritholtz.com/blog/2011/01/bofa-putbacks-freddie-mac/

This isn’t normal profit making, which I don’t mind. This is legalized theft with the help of the Obama administration.