Thursday, October 8, 2015

Increase in bank ATM fees is just another way to wean Americans off cash

Despite the fact that since 2008, where banks have had almost unlimited access to ‘free money’ through the Federal Reserve’s discount window, their balance sheets have been short liquid capital since most of this borrowing has been used to build a network of paper assets and derivatives.  And because of policies that now see very little cash being kept on hand in local bank branches to support customer needs, commercial banks have returned to instituting massive numbers of customer fees that were once removed a decade ago during a time when banks were in fierce competition to signup new depositors.
And one fee in particular, and which has a greater agenda than just providing extra income to financial institutions, is the increasing of ATM fees for non-bank customers.

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