Now, I have no problem with an overdraft fee if the bank honors the
check but, they charge the fee when they do not honor the check. That
is a fee for no service. Why is it
permitted?
Now, let's look at credit card companies' late fee. They are charging
interest on all their advances, why are they permitted an additional
fee? What service are they performing for that fee?
Understand this is not an over-the-limit fee. It is a fee for being
late with a payment which they are charging interest for. A late fee is
double dipping.
We are in a depression and things are difficult. We used our tax
dollars to bail out these banks. Now, they are coming back with very
tight credit and these fees. Why are we permitting this?
Please consider, we are in this depression because of bad judgment (are
we sure that it was bad judgment and not done on purpose out of greed?)
of the bank officers. We are all suffering because of the banks, and
now they want to collect fees because we are in a position they put us
in.
We need a strong usury law limiting what interest can be charged and a
law that also addresses these fees.
Bruce A. Bertholon
Warren
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