With Trillions of our tax dollars being given to banks you would think that the cash in hand would be used to bail out struggling home owners, or those upside down on their mortgages but that is not the case.
The story printed in the Connecticut Post is only one of many reasons why draconian banking reform is required. Lori Anne Galligan, like most people in Milford struggle to pay bills and balance her budget, but our local Wachovia banks comprised of the worlds most evil people feel no crime is committed when they rob their clients of $10.3 Billion in overdraft fees.
Our founders warned us long ago about banks, and they said that "none are more imperiled than those people whose nations stand silent as crimes against them are made to be legally protected by the courts." My point is that if we rob a bank of $455.00 we can be charged with ROBBERY OR FRAUD, they on the other hand can call you STUPID AND NEGLIGENT then legally keep your money.
This is just but one of many creative violations of the 14Th Amendment that evil banks engage in on a regular basis. While Ms. Galligan pleaded with her bank manager at Wachovia, she like most of their customers are told to "Go Pound Salt" that there is no credit. Their favorite techniques is to make their customers who receive these fees feel stupid, negligent, and deserving of the fee because of the risk of loss they pose to the bank by their reckless behavior.
These arguments are all baseless, they are mere training techniques rendered by the senior managers to guarantee the 10 Billion in profits keep flowing into their pockets. They even add the added scam of electronically stacking the system against their customers. The do this by clearing the largest checks first and then churn multiple fees on the other smaller transactions. This is the only way its possible for banks to make the huge profits the need to support their overbearing banking presence in local communities.
Many people have asked banks for relief from these fees and Congress passed new banking reform that few people really understand but if one thing is for certain banks are making it clear that being middle class and having a bank account can be a very costly liability. Fee structures indirectly communicate that bank accounts are for the rich, or people so flush with cash that they can keep a massive base sum in their accounts.
Most banks offer "over draft protection" but even that is stacked to harm its consumers with fees and excessive interest, and more often than not they do their very best not to advertise it, offer it, or make it easy to qualify for.
The best way to retaliate against these abusive banks is to close out your account, convert all your savings into Gold (Contact you financial advisor) and have a bank account for the sole purpose of paying those bills that you cannot pay in cash. If you need a credit card, than use prepaid ones that cannot invoke hefty $35.00 fees. Lastly if you insist on using a bank write a letter to your old bank explaining that you switched to a bank that has lower fees, and are less abusive of their customers. The best relief that I personally found from greedy banks was to investigate credit unions.
You may also abandon your account with the negative balance, but some banks now report customers who fight back to the "CHEX" system. This is a "RAT" network of people on a "LIST" that are alleged abusers of their checking privileges. While some people rightfully deserve to be on this "LIST" there are others who are abusing it with customers who refuse to allow themselves to be cheated by their bank or simply just disagree with their charges.