Tim Carney (Wash. Examiner column): Thank Wal-Mart for your new bank card fee

[Fergasun]

**** them. Doesn't surprise me that they've decided to pass it on to the consumer, blame Wal Mart, and put their paid hacks on the PR job. Glad to see you blindly getting on board like a good little boy and spamming this website with their trash.

Their PR is better so people believe it.

[ACW]

So if the bank is not getting paid for these transactions, how are they supposed to continue offering the services. I don't understand why the fed is regulating business fees. How exactly was that ever going to help the consumer?

It wasn't. That was just an excuse. But of course Zoony's in the pocket of Big Retail.

[SWFLSkins]

hahaha that article is a lump of ****. Stop spamming the board with steaming turds, seriously.

So are you an exec at BOA? haha seriously zoony could you elaborate as to why you feel this way? I find this interesting and I think a battle is brewing between consumer and the corporations that have had too much influence in DC for too long. Now corporations mean the retailers and the financial industries. We bailed them out and now they are screwing us by jacking rates and finding creative ways to adjust fees.

---------- Post added October-4th-2011 at 08:22 AM ----------

So if the bank is not getting paid for these transactions, how are they supposed to continue offering the services. I don't understand why the fed is regulating business fees. How exactly was that ever going to help the consumer?

Hey let me hold your money and charge you to dole it out, sounds great to me.

[Predicto]

The decline of B of A is a sad story.

It was originally created to be the bank for immigrants and the little guys who could not get a fair shake from the Big Banks, and for decades, it was exactly that. Then it got bought up by the predators at NationsBank, and it has been downhill ever since.

[NavyDave]

The decline of B of A is a sad story.

It was originally created to be the bank for immigrants and the little guys who could not get a fair shake from the Big Banks, and for decades, it was exactly that. Then it got bought up by the predators at NationsBank, and it has been downhill ever since.

The Bank that gave out Credit Cards with a $500 limit to illegal aliens? The Bank that was bailed out because it was too big to fail?

---------- Post added October-4th-2011 at 12:43 PM ----------

Almost 30 Years with NFCU and no complaints

[HailGreen28]

I don't know for certain (because I don't shop at wal-mart or Sams Club), but I've heard Sams Club ONLY accepts discover.

Sam's has always accepted my CapitalOne and my Visa-based debit card, no problem.

---------- Post added October-4th-2011 at 02:36 PM ----------

The decline of B of A is a sad story.

It was originally created to be the bank for immigrants and the little guys who could not get a fair shake from the Big Banks, and for decades, it was exactly that. Then it got bought up by the predators at NationsBank, and it has been downhill ever since.

I forgot if it was BOA or First American/First Citizens/?, but about 10 years ago, I got a check for fixing a person's computer, took it to that bank, and they wouldn't cash it unless I opened an account with them. I said "It's your check", and was met with blank stares.

The client was fine with paying me cash instead. That bank is still there last I looked, ought to see what bank that was.

[Larry]

i have been with a local credit union for a year now. Best decision i ever made. I have my check, savings, 2 car loans and an investment account all through them. I can't understand why people stay with these big banks. Great customer service, responsible bank practices and no fees. I have multiple atms and bank locations near my house/work and if i am out of town i can use a network on credit unions to bank with without any fees. It is really not a hard decision.

Take a couple of hours one day this week and join a credit union.

usaa.

---------- Post added October-4th-2011 at 03:28 PM ----------

I don't think it's ludicrous to suggest that the retail lobbyists are behind some of the language in the Dodd Frank bill.

I think you're being too harsh Zoony. We won yesterday and Dallass lost!

I may be being overly generous, but I think Zoony's point is that the article didn't blame "retail lobbyists", it blamed "Wal Mart".

Now, it's certainly possible that Congress pays more attention to Wal Mart than they do to Mom & Pop.

OTOH, I also suspect that those processing fees probably hit Mom and Pop a lot more than they hit Wal Mart. (At least as a percentage.)

Let's face it, do you honestly think that MegaBankCorp charges Mom and Pop the same percentage that they charge Wal Mart? Or do you think that Wal Mart gets their credit cards processed for a fraction of what Mom and Pop get charged, due to the "I'm Big, therefore you'll charge me less" factor.

I wouldn't be at all surprised if Mom and Pop get charged 4%, and Wal Mart gets charged more like 1%.

[ACW]

http://reason.com/archives/2011/11/11/putting-customers-second