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Sen. Dick Durbin excoriates Bank of America (BAC -1.9%) for "sticking it" to debit card...

Sen. Dick Durbin excoriates Bank of America (BAC -1.9%) for "sticking it" to debit card customers via its new $5 monthly fee: "Banks that try to make up their excess profits off the backs of their customers will finally learn how a competitive market works." But Durbin led the move to change the rules. Isn't this how a competitive market is supposed to work?
Comments (19)
  • wyostocks
    , contributor
    Comments (8811) | Send Message
     
    What a fool Durbin is.
    The assh**ls in congress will never ever admit that they screwed up.
    30 Sep 2011, 12:01 PM Reply Like
  • phoneranger
    , contributor
    Comments (350) | Send Message
     
    Not sure what you were trying to type with assh**ls. Maybe you meant TeaParty stooges of big banks?
    30 Sep 2011, 12:43 PM Reply Like
  • spald_fr
    , contributor
    Comments (2796) | Send Message
     
    [Maybe you meant TeaParty stooges of big banks? ]

     

    How is this possible, rumpranger? The TEA Party would want to *reduce* the size of government, thusly banks would make less on interest to service debt.
    30 Sep 2011, 05:56 PM Reply Like
  • Lint
    , contributor
    Comments (391) | Send Message
     
    Let's talk about Sen. Dick Durbin's excess profits as well...
    30 Sep 2011, 12:05 PM Reply Like
  • Yokyok
    , contributor
    Comments (330) | Send Message
     
    been with BofA for ever.
    and I will never use my BofA debit card again.
    and I will switch to a bank that offers no fee checking/debit
    can't imagine how a bank could be so stupid
    30 Sep 2011, 12:06 PM Reply Like
  • Buckoux
    , contributor
    Comments (6622) | Send Message
     
    "...I will switch to a bank that offers no fee checking/debit"

     

    Good luck with that! Oh sure, some banks will offer "free" stuff for a while, but the Dodd-Frank Bill insured the end of, so-called, "free checking/debit" for everybody. Government has struck again.

     

    By the way, what makes you think that banking services should be for "free" anyway. I don't see that as a "right" in the Constitution.
    1 Oct 2011, 12:27 PM Reply Like
  • spald_fr
    , contributor
    Comments (2796) | Send Message
     
    Durbin was hand-in-hand with the banking queen on this one.
    30 Sep 2011, 12:09 PM Reply Like
  • Rhianni32
    , contributor
    Comments (2069) | Send Message
     
    Why do people still use banks at all anymore? Credit unions are superior in just about every way. No debit card fee, 1%+ checking account interest, no ATM fees, no fee for being under a minimum account balance, no minimum account balances at all.
    30 Sep 2011, 12:21 PM Reply Like
  • youngman442002
    , contributor
    Comments (5131) | Send Message
     
    Just wait till they tax those "rich" people....and see how they leave or stop making money....working...inv... know..those Capitalist ideas..
    30 Sep 2011, 12:28 PM Reply Like
  • paulvard
    , contributor
    Comments (124) | Send Message
     
    BAC acts as if they have monopoly of the debit card business. Have they never thought that there maybe an exodus of customers because of this or even worse run out of deposits? Competition? Let it all begin!
    30 Sep 2011, 12:33 PM Reply Like
  • Poor Texan
    , contributor
    Comments (3533) | Send Message
     
    BAC doesn't care. They have too many deposits and don't want the expense of servicing people's money (unless they are really big). They can do better borrowing money from the Fed for free and buying treasuries.
    30 Sep 2011, 03:47 PM Reply Like
  • Michael Clark
    , contributor
    Comments (9487) | Send Message
     
    Carve up the big banks and sell them for parts.
    30 Sep 2011, 12:43 PM Reply Like
  • Buckoux
    , contributor
    Comments (6622) | Send Message
     
    "Carve up the big banks and sell them for parts. "

     

    Carve up big government and sell the politicians and bureaucrats to China as wage slaves.
    1 Oct 2011, 12:31 PM Reply Like
  • User 487974
    , contributor
    Comments (1105) | Send Message
     
    Dickie Durbin and Dizzy Lizzie Warren and their whole consumer finincial protection abortion should be run out of town!
    Fracking scuz ball Progressive / socialist pol's SUCK!
    Jerry
    30 Sep 2011, 02:41 PM Reply Like
  • Financial Insights
    , contributor
    Comments (957) | Send Message
     
    What did he think was going to happen? These politicians never seem to think before they act.
    30 Sep 2011, 11:16 PM Reply Like
  • MexCom
    , contributor
    Comments (3057) | Send Message
     
    For all the BAC bashers - yeah put them out of business. Nationalize the banks, the Government can do a better job at lower cost, LOL.

     

    Also the Internet should be free! Please close your account with your ISP too. That way I won't have to read your rants.
    1 Oct 2011, 07:15 AM Reply Like
  • shelbyman
    , contributor
    Comments (34) | Send Message
     
    This won't hurt older established folks...but it will hurt our kids who work hard to keep things good with their credit and bill paying but don't have enough in the accounts to meet the amt to have the fee waived.

     

    Another FINE example of the good folks subsidizing the total screw ups....there is nothing wrong with charging the loosers more because they are a higher risk. If you don't want to be in that category then get out of it....seems simple to me. Those A-holes in congress...whats scary is the people are still walking among us who elected them.....like those in congress have any idea what our lives are like....!!!!!!!!!!
    1 Oct 2011, 10:47 AM Reply Like
  • thurston
    , contributor
    Comments (205) | Send Message
     
    http://bit.ly/o0eRZV/

     

    Durbin is one of the biggest crooks in Washington, it was one of his constituents, the CEO at Walgreens, who asked Durbin to slip this into Dodd Frank to institute price controls and shift money from the banks to the retailers. The idea was so bankrupt that even Barney Frank was against it as it was never even voted on in the House. The money Durbin gave to the retailers has to be paid for by the customers, this was always part of the plan.
    3 Oct 2011, 02:03 AM Reply Like
  • frank445
    , contributor
    Comments (33) | Send Message
     
    All of the major banks have the same type of fees either already built in or coming this year. If you want to get away from this fee you should move to a credit union or some other non-bank to place your money.

     

    BAC and the other large global banks need to stay profitable. They are needed to defend our currency in the global market. If our largest global megabanks disappear, they will be replaced by the Chinese Peoples Bank. Good luck with that.
    1 Mar 2012, 08:58 PM Reply Like
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