Saturday, February 21, 2009

Unemployed? Good target for banks to charge you more fees.

I been busy trying to hold on to my job and working longer than ever, and also staying quiet to see how this new stimulus plan will work out. But I see that BANKS cannot watch themselves.

If you are unemployed and collecting benefits you may now have to pay banksfees to get your money? Shame. Shame.

Read more:
http://finance.yahoo.com/news/Jobless-hit-with-bank-fees-on-apf-14426971.html

For hundreds of thousands of workers losing their jobs during the recession, there's a new twist to their financial pain: Even as they're collecting unemployment benefits, they're paying bank fees just to get access to their money.
Thirty states have struck such deals with banks that include Citigroup Inc., Bank of America Corp., JPMorgan Chase and US Bancorp, an Associated Press review of the agreements found. All the programs carry fees, and in several states the unemployed have no choice but to use the debit cards. Some banks even charge overdraft fees of up to $20 -- even though they could decline charges for more than what's on the card.
"It's a racket. It's a scam," said Rachel Davis, a 38-year-old dental technician from St. Louis who was laid off in October. Davis was given a MasterCard issued through Central Bank of Jefferson City and recently paid $6 to make two $40 withdrawals

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