1. Welcome to SportsJournalists.com, a friendly forum for discussing all things sports and journalism.

    Your voice is missing! You will need to register for a free account to get access to the following site features:
    • Reply to discussions and create your own threads.
    • Access to private conversations with other members.
    • Fewer ads.

    We hope to see you as a part of our community soon!

Stories like this are the reason why banks need to be heavily regulated

Discussion in 'Sports and News' started by Baron Scicluna, Dec 14, 2011.

  1. YGBFKM

    YGBFKM Guest

    Mason jars!
     
  2. HC

    HC Well-Known Member

    I worked for a major Canadian bank for many years. I'm grateful for the heavy regulation of banks in this country. One of the reasons the financial meltdown, while felt in Canada, was not nearly as severe.
     
  3. dirtybird

    dirtybird Well-Known Member

    When I last switched banks away from the credit union near my college, I looked at all the large banks as options. Then I saw each charged it's own fee if you used another ATM, on top of that ATM's fee (double fee!). One offered to cover something like 20 foreign ATM fees, but you still had to pay the two bucks for the bank's own fee. This (along with aggravation of some high minimum balances) basically led to me swearing off any big bank.

    Also, deregulation was supposed to help consumers right? It seems to have done little good on the micro level with tons of small stories like this, or on the macro level.
     
  4. dooley_womack1

    dooley_womack1 Well-Known Member

    See!
     
    Last edited by a moderator: Dec 15, 2014
  5. KYSportsWriter

    KYSportsWriter Well-Known Member

    My bank is like that. They caught a suspicious charge once on my account in the past and called me to ask about it. Someone in Tennessee got my debit card number and was using it to buy shit on eBay or some such website a few years ago. The bank put the money back within an hour of calling me about it and got me a new card within two days.
     
  6. Care Bear

    Care Bear Guest

    The bank fees are absurd. No one disputes that. The kid got screwed. No one disputes that, either. The only point I would make is that it's probably good practice to check one's account at least once a week. Bank fees show up, whether expected or not. Retail transactions can accidentally be run up twice. Things happen. I'm not defending the bank.
     
  7. dooley_womack1

    dooley_womack1 Well-Known Member

    In the past, I got nailed by the "cash the biggest check first" game. Turns one fee magically into three. There's utterly no reason it can't be done the other way.
     
  8. bydesign77

    bydesign77 Active Member

    While I agree the fees can be excessive and this story is a good example of such a thing, if you can't keep your account under control and make sure you don't bounce things, then that's on you.
     
  9. dooley_womack1

    dooley_womack1 Well-Known Member

    The point is, one check was written that would have exceeded the balance, not three.
     
  10. dixiehack

    dixiehack Well-Known Member

    Literally from at least the age of five, it was drilled into my brain that bankers were conniving thieves not to be trusted in any matter. I remain forever grateful to my dad for the lesson.

    Credit unions baby.
     
  11. LongTimeListener

    LongTimeListener Well-Known Member

    This entire thread is based on an article in which that was plainly not the case.
     
  12. Raiders

    Raiders Guest

    Literally? Right into the brain?
    It's a wonder you can still type. Salud!
     
Draft saved Draft deleted

Share This Page