Saturday, March 26, 2011

Ready for your bank to screw you?

According to CNN Money, several of the nations largest banks are getting ready to assault consumers to protect their bottom lines. JPMorgan Chase is considering capping debit card purchases at either $100 or even $50! Yes, thats right, even if you've got $5000 in your checking account, you'd be declined for trying to make a purchase that exceeded those caps. All because they're bickering with the federal reserve over the amount they can charge retailers for transaction fees. If this actually happens, and my bank, PNC, institutes a cap on debit purchases, I'll take my money out and keep it stuffed in my matress at home! I'll buy money orders from walmart and send my bills in through snail mail like I used to back in the day!

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