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MTU's Union Bank to Begin Charging New Fees

|Includes:BAC, Mitsubishi UFJ Financial Group, Inc. (MTU)

We all heard about the recent movement of frustrated banking consumers and their corresponding mass protests. Many Bank of America consumers were so upset about the possiblity of being charged a five dollar fee to use their debit cards, that they took to the streets in complaint. Many of them put the monies where their mouths were (so to speak), and closed their accounts. In response the bank retracted it's intentions to charge the fee. At the time, many consumers rushed to credit unions and also to other big brand banks that were not charging such fees, as an alternative to apease their woes. Union Bank didn't have such fees. That was then, and this is now. It seems that Mitsubishi UFJ Finacial Group, Inc.'s Union Bank is about to prove it's self the rock in the hard place for some consumers. It has announced that it will now be charging new fees similar to the other big banks beginning on Jan. 1, 2012.

Stocks: MTU, BAC