I’m talking about fees, which are proliferating like fleas on a dog’s back. Latest new gimmick to fleece with fees: our bank demands depositors maintain an average $1,000 monthly balance or suffer forfeiting a three or four-buck fee. This bit of bad news is spreading through the financial business like an uncontrolled case of shingles.
Now this isn’t going to affect us personally; we maintain a better balance than that. But it’s really going to sock the poor who live from paycheck to paycheck. Most badly-educated day laborers aren’t going to read the announcement that Regions Bank mailed us warning of its latest creative bloodsucking. They probably won’t even notice their accounts are being silently tapped from month to month. Continue reading