Bailed-Out Banks Face Probe Over Fee Hikes

Discussion in 'Economics' started by ASusilovic, Apr 13, 2009.

  1. The committee overseeing federal banking-bailout programs is investigating the lending practices of institutions that received public funds, following a rash of complaints about increases in interest rates and fees.

    Since the Troubled Asset Relief Program was launched last October, banks bolstered by capital infusions have boosted charges on a wide range of routine transactions, hiked rates on credit cards and continued making loans criticized as predatory by consumer advocates. The TARP funds are intended to open lending spigots and make it easier for people to borrow money.

    Last week, for example, Bank of America Corp. told some customers that interest ...

    The American taxpayer and consumer getting double-screwed by US BANKS. Enjoy the "recovery efforts" !
  2. Ge here and tell your story. I myself have had Bank Of America raise all may rates with them. Discover has not and RBS has not. Citi has,Chase has.

    My credit is spotless wirh 25 years of excellent history never late with low balances.

    Everyone my and I wife know has had the rates raised and lines reduced.
  3. I just got this letter, BoA raised the interest rate on my CC by 10%

    next bill comes I'm going to write a check for the full amount

    what about those who can't, what do they do?

    inflation is also caused by companies having monopoly over a market and so forcing higher prices onto customers, like what goes on in third world countries

    anyone who has a child in college knows that tuitions have increased significantly, anyone paying utility bills knows that they too have increased

    high inflation almost always hits at the worst time possible, like when you can't get a fixed rate mortgage anymore and have to pay rent, and then your rent just keeps going up
  4. TGregg


    LMAO! The banks sign a deal with the devil (accept bailout coin), then the next thing they know it's:

    "Did you fly here in a company jet?
    You make too much money!
    Your bonus is too big!
    You charge your customers too much money!
    You need to make lots more, lots cheaper loans to minorities and high credit risks, and don't charge them very much interest while you are at it!"

    The feds have their crooked fingers in this pie, and they want a taste from every slice. Dunno WTF is wrong with business folks who are too stooopid to realize that this sort of thing is inevitable. Next it'll be stuff like:

    "You need to loan GM money so they can stay afloat and make those hybrid cars nobody wants to buy."


    "Your board and executive management do not look like America. You need more blacks, women and homosexuals higher up in the ranks. Since you are obviously biased against them, I shall offer a list of suggestions from which you can choose your new group of leaders. Excuse me while I consult my list of campaign donors."
  5. LOL