For far too long have the credit card and the
banking systems made too much money on the backs of Americans with outrageous charges for being a day late on payments, or overdraft on account with a charge of $35 a piece, with even an overdraft of $5 or less. It should not cost people who obviously don’t have a lot of money or are too sick to make it to the bank and etc, an unreasonable fee. It should be a more reasonable amount per late fee or over draft of $5 or less and should not be more than $25 a day. People are struggling and the extra charges from these businesses can reach a maximum of $175 of banking fees per day. Or paying a credit card a few minutes late with a $30-$40 late charge. Though people should be responsible financially, paying upwards of $175 per day for overdraft charges to a bank is unreasonable and for lower and middle class families these charges can mean, not paying a bill or feeding their families. Although these businesses still can charge a fee, the amount should be reduced tremendously. The fee should be assessed only one time per charge also. Considering we had to bail out the banking system back in 2008, where all of the top executives got their golden parachutes, on tax payers backs. And considering the amount of money they make from the people having their money in the institutions from the interest they receive. The American people should have a little reprieve from all the extra fees from these institutions.
1 Like
Sorry, this is a market issue. In the interest of simplifying federal government, fewer regulations are better than more.
If Trump is successful in bring back good jobs, removing the uninvited foreign nationals and lowering the cost of government, then conditions will improve and people will be less likely to ring up overdraft charges, excess bank fees, etc.
1 Like