Despite legislation, banks will try to screw you over

[karadinart]

Because of insane fees and interest rates, the Democratic congress passed new laws limiting the charges banks can put on all kinds of accounts, from debit to credit cards. Now Chase, a major banker wants to limit debit card purchases to $50 to $100 dollars, the cap would apply even if you run your debit card as a credit card.

So, consumers would have to go back to checks, take out cash, or make purchases on credit. However, Chase is also considering more fees on checking accounts, since those were not figured into recent legislation.

http://money.cnn.com/2011/03/10/pf/debit_cards_limit/

Comments

[ashkitty.livejournal.com]

Aren't I glad I don't have Chase anymore? (I did briefly, because I had WaMu, and Chase took them over after I moved to the UK. I closed the account once I was home for a bit. Yay credit unions.)

[karadin.livejournal.com]

Yeah, I have both a credit union, and an insurance/banking account for military members through my father, I'd never go with a big corporate bank again. I just wish I could re-fi my house!