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Once upon a time, banks made money by charging interest on loans. Banks don't have to offer checking accounts to make money charging interest on loans. I susp
by tsotha 15y ago
Once upon a time, banks made money by charging interest on loans.
Banks don't have to offer checking accounts to make money charging interest on loans. I suspect what will happen if the government starts to get into the business of deciding what fees ought to be charged for this or that the banks will start charging a flat fee to have an account.
Once again "advocates" for the poor will end up screwing poor people.
- gujk 15y agoHow is it screwing poor people to have a flat fee that eliminates the negative-sum game of debit/credit shuffling? Even if flat fee was considered bad, by taking away the chance for some folks to skate the line and win, that is trivial to fix with a Federal income tax credit. You can argue against that on liberation grounds, but not bleeding heart grounds.