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(CNBC)   Bank profits have SOARED with Federal Reserve moves aimed to help you, the consumer. So, how's that fee-based-checking, and sh*tty service working our for you, Mr. Consumer?   (cnbc.com) divider line 31
    More: Scary, Federal Reserve, account of profits, MBS, government debt, RBS Securities, central banks, Oppenheimer, Federal Reserve Chairman Ben Bernanke  
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1409 clicks; posted to Business » on 02 Oct 2012 at 9:52 AM (1 year ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



31 Comments   (+0 »)
   
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2012-10-02 10:04:43 AM
My credit union doesn't have fee-based checking, and they give me a lollipop when I make a deposit. All in all, I'm pretty satisfied.
 
2012-10-02 10:08:53 AM
The credit union I applied to was weird and ghetto
 
2012-10-02 10:09:38 AM
Oh, you mean the APY of 0.05%? Just spiffy.
 
2012-10-02 10:13:23 AM
I lke my small hometowny bank.
 
2012-10-02 10:22:13 AM
Credit union master race.
 
2012-10-02 10:22:37 AM
USAA.

/obligatory
 
2012-10-02 10:35:23 AM
No fee internet banking 


/and they refund all ATM fees
 
2012-10-02 10:41:32 AM
The assumption that banks would in any way pass on the savings to the consumer is ridiculous.
 
2012-10-02 11:03:59 AM
The Federal Reserve will NEVER do anything to help any entity in any way unless it leads to more profits for itself.

/Ferengi Home World, we live on it.
 
kab
2012-10-02 11:33:47 AM
Banks aren't your friend.
 
2012-10-02 11:56:41 AM
My credit union is giving me 2% interest on my checking account....so I'm pretty happy.
 
2012-10-02 11:58:50 AM
 
2012-10-02 12:33:10 PM

FARTNOISE FARTNOISE JUNIOR: My credit union doesn't have fee-based checking, and they give me a lollipop when I make a deposit. All in all, I'm pretty satisfied.



lol

that is why i use a credit union. its owned by its members (the folks who deposit money in it) NOT a bunch of fookin' stock holders like a bank has.

f*k all banks. Credit Unions are better deals and they're backed by the U.S. Government just like banks.
 
2012-10-02 12:33:53 PM

stuhayes2010: I lke my small hometowny bank.



and they like your tight bung hole too!
 
2012-10-02 12:35:02 PM

cefm: The assumption that banks would in any way pass on the savings to the consumer is ridiculous.



only credit unions do that. banks exists to make profits and satisfy their stock holders. guess where/who they get their money from??? i'll give you one guess, mr customer.
 
2012-10-02 12:36:02 PM

kab: Banks aren't your friend.




and you're friend has his tool up your arse.

Credit Unions, not owned by any stockholder dicks, are your real friends.
 
2012-10-02 12:37:06 PM

kab: Banks aren't your friend.


oops. i recant. i read your post as ARE , not aren't. i'll go to my corner now.
 
2012-10-02 12:38:13 PM

moothemagiccow: The credit union I applied to was weird and ghetto




yea, the nice dressed up, pretentious, well decorated bank is alot better. you prefer getting cornholed in style and comfort.
 
2012-10-02 12:39:15 PM

cefm: The assumption that banks would in any way pass on the savings to the consumer is ridiculous.



lol

Rediculous works well in America. (of course, it requires alot of ignorance and naivete to work)
 
2012-10-02 12:50:39 PM

nmemkha: A few economists are canning food and stocking up on shotguns.


I've already got the canned food and shotguns. I'm working at stocking up on economists.
 
2012-10-02 01:42:09 PM
This article has nothing to do with fee based checking at all. Way to go, subby!
 
2012-10-02 01:56:50 PM

fiver5: This article has nothing to do with fee based checking at all. Way to go, subby!


Well, I guess indirectly it does. Banks make money off the spread between what it pays to borrow and what it receives to lend (net of bad debt it writes off).

In the low interest rate environment, the spread between lending rates and the minimal or no interest paid on checking accounts have narrowed significantly making it harder for banks to turn a profit on such spread business. In other words, they can't make money off your no fee 0.25% interest checking anymore. Hence the increasing fees.

I'm pretty happy with my for profit bank, but if credit unions are as great as everyone on fark seems to think they are, then by all means go for it. Why pay fees you don't have to?
 
2012-10-02 02:23:47 PM
It's not like the Republicans held up funding the Bureau of Consumer Protection and refusing to allow the critical provisions of the Wall Street reform to take place.

Thanks a lot, Obama.
 
2012-10-02 04:46:51 PM
johnbardi.edublogs.org
 
2012-10-02 05:29:06 PM
BoA and Chase were reaming me long before hope and change, so what's new? BECU has my money now
 
2012-10-02 08:00:36 PM

FARTNOISE FARTNOISE JUNIOR: My credit union doesn't have fee-based checking, and they give me a lollipop when I make a deposit. All in all, I'm pretty satisfied.


I bank with Chase. No fees, free cookies and coffee in the lobby (you can just walk in and get them even if you don't have any banking to do), and they always recognize me and say hi when I come in. My former credit union didn't even come close to the same homey feel.

/honestly hate the homey feel, I just want to get in and get out without you asking about my wife, new house, etc.
///It does make it handy not having to show ID all the time
 
2012-10-03 01:10:49 AM
The most important thing is to have rent seekers increasingly leeching off your discretionary income. That's the only way you can guarantee a permanent recession.
 
2012-10-03 01:39:10 AM
Banks don't profit, they go under and we're all screwed. Banks make a profit and the lot of you cry foul. You idiots can't have it both ways.
 
2012-10-03 01:46:47 AM
We all know banks cant survive unless their revenues grow by a solid 10 percent a year.

leave them alone. Its hard having all the money.
 
2012-10-03 01:48:59 AM
Stop using shiatty banks.
 
2012-10-03 02:10:17 AM

stuhayes2010: I lke my small hometowny bank.


same for me , most likely a different bank though.
 
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