Beautiful bills. Let's hope they pass.

I guess she's okay for a 60-year-old.

If this happened the banks would lose out on millions of exorbitant $40 overdraft charges.

I bet there's some campaign contributions in her future. Banks are very civic minded that way.

I could've used that the other day. I ran a charge through, which I knew I had enough money for, and a "hold" was placed on the card, which not only charged my card, but also held the amount, effectively charging me double for my purchase. So the next day I get a $30 overdraft fee, but was never technically overdrawn. I had enough money in the account for the purchase.

Called the bank, spoke to the manager. she said it's not the bank's fault since it was the vendor who was holding the amount back, and while she empathized with me, she said there was no way she could justify reversing the overdraft charge.

Um yeah, so then it's my fault?

make me some tea: I ran a charge through, which I knew I had enough money for, and a "hold" was placed on the card, which not only charged my card, but also held the amount, effectively charging me double for my purchase.

Yup. I had about $195 held when I filled up my scooter this morning (grand total of $2.50). Luckily, my bank is reasonable and lenient, and if the day's events don't leave you overdrawn, no overdrafts are assessed.

hillbillypharmacist: make me some tea: I ran a charge through, which I knew I had enough money for, and a "hold" was placed on the card, which not only charged my card, but also held the amount, effectively charging me double for my purchase.

Yup. I had about $195 held when I filled up my scooter this morning (grand total of $2.50). Luckily, my bank is reasonable and lenient, and if the day's events don't leave you overdrawn, no overdrafts are assessed.

Mind you this is a credit union I'm talking about. I got away from Wells Fargo because I thought that the credit union wouldn't pull that crap on me. Son of a...

Guess I'll have to keep looking around for a reasonable place to put my money.

This, folks is why I have no problem with government regulation of banks. They abuse their customers, and almost all of them are complicit in it. There is absolutely no reason I should be charged $30 for being responsible, and I can't ask the nice old lady who swiped my card to give me $30 out of her register, either.

F*cking banks.

Added plus, she's hot


Captain, Representative Maloney is currently registering a core temperature of 98.6 degrees Fahrenheit. This is well within nominal temperature for humans. She does not appear to be "hot" in any way that I can discern. Shall I contact medical staff for further diagnostics?

she's not hot, but i can't say thats a bad idea.

hillbillypharmacist: Yup. I had about $195 held when I filled up my scooter this morning (grand total of $2.50). Luckily, my bank is reasonable and lenient, and if the day's events don't leave you overdrawn, no overdrafts are assessed.

Wish my bank was that smart. I've actually spent money that, according to my account, I had. Then my bank switched around deposits and debits. Stuff that was already in there mind you, and then said I'd overdrafted, and charged me fees for it.

So... no more pork, eh? Imagine what people had to do back in the dark ages of 2004. ZOMG!! I can't control my overdraft and fees!!!!

This might be helpful to the debate.

Or at least give some background for her legislative initiatives.

Subby is blind. Still, this is a good thing. Yay accountability!

submitter: Added plus, she's hot



I don't know, subby. If you paint her face, she could be asking, "Why so serious?"

Came for the Lul Wut fruit...

Came for the DO NOT WANT dog...

This kind of bullshiat socialist overregulation is why our country is going to go straight to hell under B. HUSSEIN Obama. Forget actually having to keep track of your own money. Just let the government force the banks to do it for you! Not to mention that EVERYONE'S bank fees will be going up as a result of this. Responsible people will now be subsidizing the bad choices of the irresponsible as banks are forced to hike other fees because of revenues lost to overdraft fees.

Personal Responsibility: RIP.

aselene: This kind of bullshiat socialist overregulation is why our country is going to go straight to hell under B. HUSSEIN Obama. Forget actually having to keep track of your own money. Just let the government force the banks to do it for you! Not to mention that EVERYONE'S bank fees will be going up as a result of this. Responsible people will now be subsidizing the bad choices of the irresponsible as banks are forced to hike other fees because of revenues lost to overdraft fees.

Personal Responsibility: RIP.

0/5. Reason: Trying too hard.

The simple answer is to not have credit cards.

mamoru: submitter: Added plus, she's hot

I don't know, subby. If you paint her face, she could be asking, "Why so serious?"

Something like this?

How'd your hip replacement go, subby?

I once accidently used my debit card instead of my credit card (virtually identical -- same bank) for a car repair ($2k). Caused about $150 in overdraft fees. Ridiculous.... The bank gave us no warning, before, during or after the transaction. I know it was my mistake, but the bank knows my balance, and it was a simple mistake.

Let me get this straight, A woman who will save me money?
That's hot.

Kudos to this Representative. It doesn't take many lines of code to display to a customer a warning that they're potentially making a mistake. Its about as wise as the 'OK' button to confirm deposit/transfer amounts at ATMs.

scifarker: I once accidently used my debit card instead of my credit card (virtually identical -- same bank) for a car repair ($2k). Caused about $150 in overdraft fees. Ridiculous.... The bank gave us no warning, before, during or after the transaction. I know it was my mistake, but the bank knows my balance, and it was a simple mistake.

You are an idiot and shouldn't be trusted with children.

And by that I mean, buyer beware in a capitalist system. They want to win and will do whatever they can to do so.

Tr0mBoNe: And by that I mean, buyer beware in a capitalist system. They want to win and will do whatever they can to do so.

And that's perfectly fine....but they don't get to lie to anyone about that nickle and dime/winner take all attitude.

B-b-but personal responsibility!!!!!! It should be the banks' lawful right to rip off as many of their customers as they possibly can!

hillbillypharmacist: Beautiful bills. Let's hope they pass.

I guess she's okay for a 60-year-old.

She's totally meh compared to Helen Mirren:

Weaver95: Tr0mBoNe: And by that I mean, buyer beware in a capitalist system. They want to win and will do whatever they can to do so.

And that's perfectly fine....but they don't get to lie to anyone about that nickle and dime/winner take all attitude.

Yep. But it won't change anything. They'll just notify you that you are going to get reamed and you'll have no choice but to get reamed.

Or (God forbid) you put off the purchase for a month until you can actually afford it :S

Tr0mBoNe: scifarker: I once accidently used my debit card instead of my credit card (virtually identical -- same bank) for a car repair ($2k). Caused about $150 in overdraft fees. Ridiculous.... The bank gave us no warning, before, during or after the transaction. I know it was my mistake, but the bank knows my balance, and it was a simple mistake.

You are an idiot and shouldn't be trusted with children.

And by that I mean, buyer beware in a capitalist system. They want to win and will do whatever they can to do so.

Or we could just use modern technology to notify people they're about to overdraft, so they make an informed choice whether to overdraft instead of enriching predatory banks over simple mistakes.

But hey, the policy of maintaining dog-eat-dog capitalism is pretty important. I mean, what will banks do without all those overdraft fees? Some executive somewhere might have to make do with a $9,000,000 bonus instead of a $10,000,000 bonus if we stop predatory overdraft charges.

What a socialist.

captain_heroic44: But hey, the policy of maintaining dog-eat-dog capitalism is pretty important. I mean, what will banks do without all those overdraft fees? Some executive somewhere might have to make do with a $9,000,000 bonus instead of a $10,000,000 bonus if we stop predatory overdraft charges.

Or even worse, what happens when people start to notice that the banks engaging in predatory overdraft charges are the ones sucking down the most in TARP funds...?

Is that really the case? got me. But it wouldn't surprise me at all to learn that the most asinine banks were the worst managed. And focusing on predatory overdraft fees on small accounts while completely mis-managing their mortgage division(s) certainly counts as poor management in my book.

But hey, what do I know? i'm just a guy on the intertubes. feel free to ignore me.

GreenAdder: Added plus, she's hot


Captain, Representative Maloney is currently registering a core temperature of 98.6 degrees Fahrenheit. This is well within nominal temperature for humans. She does not appear to be "hot" in any way that I can discern. Shall I contact medical staff for further diagnostics?

Well done... and seconded.

She happens to be my representative, so I am getting a kick-back out of... wait a minute...

It could be that subby himself is a 60 y/o and finds her hot.

/a hot 60 y/o probably just means she has all her original organs

No, subby, this is what a hot Democratic congresswoman looks like.



Stephanie Herseth, D-SD

Weaver95: captain_heroic44: But hey, the policy of maintaining dog-eat-dog capitalism is pretty important. I mean, what will banks do without all those overdraft fees? Some executive somewhere might have to make do with a $9,000,000 bonus instead of a $10,000,000 bonus if we stop predatory overdraft charges.

Or even worse, what happens when people start to notice that the banks engaging in predatory overdraft charges are the ones sucking down the most in TARP funds...?

Is that really the case? got me. But it wouldn't surprise me at all to learn that the most asinine banks were the worst managed. And focusing on predatory overdraft fees on small accounts while completely mis-managing their mortgage division(s) certainly counts as poor management in my book.

But hey, what do I know? i'm just a guy on the intertubes. feel free to ignore me.

As far as I know, all banks use overdraft fees nowadays. Banks may differ in how predatory they are in their application. Bank of America tried to defraud me of about $200 in overdraft fees when I was in law school after I deposited a student loan check. They extended me about $300 in "provisional credit" until the check cleared, with which I immediately made about $100 in purchases.

Then some corporate bureaucrat looked at the deposit entry, and decided that it was too big to extend provisional credit. So they withdrew the provisional credit, then charged me $20 in overdraft fees for each purchase I made using the provisional credit.

I called their customer support line and blew my stack at some poor chick on the other end of the line. I knew just enough legalese to intimidate her into fixing the problem, I guess. They immediately credited the full amount of the check to my account (not that I wanted them to, I just wanted the provisional credit and the overdraft charges cleared).

But god damn was I mad. And THAT'S what I mean by predatory overdraft charges. A less sophisticated or assertive client wouldn't have gotten their money back, and would have ended up lining BoA's pockets with $200 in ill-gotten overdraft fees.

FARK Bank of America. Seriously.

I use a local bank now. I had one overdraft issue with them, also not my fault, and also which I was able to correct using a calculated recipe of red-faced anger and legalese. I just feel sorry for the people who get screwed by banks, and don't have the know-how to get the problem fixed on a Saturday morning with a teller.

I do not trust banks. Do not trust them at all. Local or national, TARP recipient or not, they WILL shaft you if they get a chance. I'm definitely in favor of this law.

EchoMike: hillbillypharmacist: Beautiful bills. Let's hope they pass.

I guess she's okay for a 60-year-old.

She's totally meh compared to Helen Mirren:

That is an awesome pic of the insanely hot Helen Mirren. I want to do so many things, so many.

make me some tea: Called the bank, spoke to the manager. she said it's not the bank's fault since it was the vendor who was holding the amount back, and while she empathized with me, she said there was no way she could justify reversing the overdraft charge.

Go to the bank during, plant yourself in front of her desk, and explain in an loud voice how they are robbing you. Repeat until you have your refund.

It took about 6 retellings when I did it, each in a nastier voice with a meaner face, but the banker finally gave in. It isn't her money, so all you need to do is make her make you want to go away badly enough.

ugh not another commie regulation. The free market could have done this without Big Brother trying to tell us what to do.

Next up: legislation requiring you to be notified when a purchase with a debit or ATM card would trigger an overdraft fee.

Good, now shiat like this might stop happening:

http://consumerist.com/tag/overdrafts/?i=5011987&t=bank-of-america-lets-charge -t hree-overdraft-fees-to-the-account-flush-with-cash (cut 'n paste goodness)


Same thing happened to my g/f during the same time period at BofGhey.

Caused her to miss a two car payments and repo her car.

Seriously.

I remember my first debit card. They would just deny the purchase if you didn't have enough money in the account. Seems like they could just do that again.

"I once accidently used my debit card instead of my credit card (virtually identical -- same bank) for a car repair ($2k). Caused about $150 in overdraft fees. Ridiculous.... The bank gave us no warning, before, during or after the transaction. I know it was my mistake, but the bank knows my balance, and it was a simple mistake."

Virtually identical, legitimate point: They should do something to make it very clear which one is a debit card, because *DEBIT CARDS ARE NOT CREDIT CARDS*. Credit cards typically have a static spending limit, where your debit card balance changes depending on your banks deposit policies and fee structure. These notifications will routinely be wrong, depending on what has or hasn't yet posted and what will post retroactively or fall off the card.

It's a checking account, and if you aren't using your check register to keep track of your balance, you're doing it wrong. Let's focus on banks that have abusive overdraft policies, like Bank of America, rather than dumbing down personal finance.

Tellingthem: I remember my first debit card. They would just deny the purchase if you didn't have enough money in the account. Seems like they could just do that again.

Why do you hate capitalism?


/sarcasm

Whoa, subby has some strange taste in ladies.

Democrat ≠ hot.

freewill: It's a checking account, and if you aren't using your check register to keep track of your balance, you're doing it wrong. Let's focus on banks that have abusive overdraft policies, like Bank of America, rather than dumbing down personal finance.

Debit cards are really just a bad idea. From a customer service perspective, consumer protection perspective, security perspective etc...they are inferior to credit cards. Do people realize that you are essentially give a merchant complete access to your checking account when you slide your debit card at the terminal? Much better to just use a credit card where you can review and approve all the charges before actually paying them.

Mnemia: freewill: It's a checking account, and if you aren't using your check register to keep track of your balance, you're doing it wrong. Let's focus on banks that have abusive overdraft policies, like Bank of America, rather than dumbing down personal finance.

Debit cards are really just a bad idea. From a customer service perspective, consumer protection perspective, security perspective etc...they are inferior to credit cards. Do people realize that you are essentially give a merchant complete access to your checking account when you slide your debit card at the terminal? Much better to just use a credit card where you can review and approve all the charges before actually paying them.

And how is that any different from writing a check that has the same info (acct #, bank routing #, address), but printed clearly without the need for a machine to read it?

I got one lesson in overdraft shenanigans, and it changed the way I used money:

I got hit for 11 overdraft fees one month several years ago, because the bank decided, after a cash deposit had cleared, to "unclear" it (due to "unusual deposit activity") after I'd paid a slew of bills, withdrawn cash, gone grocery shopping and various other small purchases over the course of two days. $385 in charges that they refused to credit to my account, even after a supervisor on the phone admitted the bank probably made a mistake. It took two trips to my local branch to get it cleared up, and I only received about half of the credit I should have gotten.

I switched banks and started to buy almost everything, and pay all my bills, using a credit card. This way, I never have to worry about fluctuating balances or limits, and I can just make one payment every month to the credit card company. No interest, no fuzzy math, and my deposits/withdrawals don't violate principles of causality.