Saturday, May 18, 2013

TD Bank: Greedy Bastards

When I was a wee lass, my father was a banker. It was a far more honorable profession back then, in the early 1960's. 

After we the people bailed out the banks in 2008, to show their gratitude, they refused to give loans to small businesses, and foreclosed on homeowners. Another way they've chosen to say thank you, is by adding numerous fees and charges to our accounts, our credit cards, and our debit cards. 

I recently received a letter from my bank to inform me of a change to one of those fees:

When I opened this checking account, it was at a small locally owned bank: North Conway Bank, in North Conway, NH. It was repeatedly sold up the corporate banking food chain till it went from TD Bank North to plain old TD Bank. 

Now, despite years of customer loyalty, unless I have a daily balance of $250, the bank is going to charge me a monthly "maintenance fee" of $10.  

How much work can it be to "maintain" the bank account of a poor person? Is my account dirtying the  carpets or getting fingerprints on the windows? 

I'm barely employed. I don't have $250 in that bank account as I type this. Is my poverty  INCONVENIENCING them, somehow? It sure as hell is inconvenient for me! 

Banking: Second Most Hated Industry:
The overall negative ratings for this industry has increased significantly from 20% in 2001 to 53% this year. The percentage of positive ratings has also declined by nearly 50% since 2001. The poor image of the banking industry is fairly straightforward, having “been involved in major issues since Lehman brothers in 2008, and it still looks like a problem,” Newport says. In addition, Americans’ perception may be affected by the high fees banks charge consumers.The high volume of scandals both in the U.S. and in Europe exposes flaws in the industry and undermine the public’s confidence in its effectiveness.Bank of America has built an infamous public image with false foreclosures, property seizures, misleading mortgage adjustment programs, and other controversial conduct. Scandals like these could be fueling the perception that the banking industry is only profit-oriented and functioning at the expense of the average American.

It's not a perception. It's reality. They're shameless greedy bastards. 

1 comment:

Anonymous said...

100% as well as the stinking credit card companies - all of them. They are so rich from leeching off the rest of us and they keep getting richer from our tax dollars because legislators ensure there is virtually complete de-regulation not to mention no law enforcement. Capitalism at its finest - higher cut throat rates than the mob would offer on the street. AND ALL LEGAL!