Simple Practices that Lead to Wealth
There is a plethora of exciting stories in the news this week. The common theme is that banks are in the cross-hairs of regulators, who have finally started to pull the trigger.
I have noticed a new trend in the conflict between banks and consumers. Customers are suing their banks for a variety of reasons and these lawsuits are starting to become problematic for banks. It seems that consumers are tired of the predatory treatment and they are taking their grievances to court. And, the courts appear to be sympathetic …
So, I decided to write a post dedicated to consumer protection and responsibility.
Most important, it has sent a message to politicians that voters will no longer be ignored. They are angry with the Government and they are doing something about it.
The Federal Reserve announced Thursday new banking rules, which require consumers to opt-in before overdraft protection fees are allowed on their ATM and debit cards. This is a huge win for consumers who are being soaked for close to $40 billion dollars in overdraft fees in 2009 alone.