Predatory Banks Go Agressive On Fees

With the credit markets dried up, and losses to banks mounting to the tune of 9000 foreclosures a day, banks are getting more aggressive. One of the ways I personally experienced banks raising money is on their "fee income." These fees come in the form of Late Fees, Unavailable Funds Fees, Over Draft Fees, Service Fees, Etc.. These banks could also care less that you are unemployed, on welfare, or just lost your home.

No fee, however is more profitable than the predatory Bank Fee, and employees at at branches are being trained in public combat. When the public complains about a Fee often bank tellers have a system of keeping their money down pat, it's called "No, No, and No" again and again to any refund of their predatory fees.

My personal experience at my own bank had to do with a check that was bounced to me, due to an honest mistake by a friend of mine. The unmentioned bank I no longer deal with, has a policy of maximizing their predatory fees. They do so by clearing the bigger checks first and then ratcheting up lots of overdraft fees on all the smaller checks that did not make it.

Sadly the photo above is true I ended up paying an exorbitant amount for a simple pizza. That aside, keep in mind that banks expect us all to be perfect. They know this is impossible, so they take advantage of our mistakes, they embarrass you, and then keep even more of your money. Peoples, bank keep in mind, recently lost many of their customers personal information and you got nothing for their mistake.

Anyone who feels their bank has been abusive does have some recourse by contacting the Banking Commissioner in Hartford. If your bank is desperate for money and has begun criminal and unethical fee practices call the Banking Commissioner and file a complaint.

Click HERE for the official website.

Jim Richetelli MIA

Our Republican mayor Jim Richetelli is out of the office this week. His family has reported that he had an adverse reaction to some prescription pills he took. Currently he is receiving treatment for this condition at an out of state facility and has pledged to give the public more details about his recovery when he returns.

The deputy mayor is currently in charge until the Mayor returns from this "out of state treatment." Meanwhile Richard smith the Milford Democratic Party Chairman said this is a time for "community unity and not judgement, we need to pull together as a community and support his family and medical privacy."

However, the Democratically heavy blog boards have not been so forgiving and have even questioned why he left the state for treatment. A Topix blogger had this to say: "I am sorry to hear the mayor is ill but quite frankly this story does not pass the smell test. We live in an area where people come for medical treatment from all over the world. Yale School of Medicine and the hospital it is affiliated with is literally a 15 minute ride from Milford. The fact that Richetelli felt he had to go out of state is suspect at best. It is rarely the action that gets a politician in trouble -it is usually the cover-up."

People around Milford, I spoke with, are mostly saddened about his treatment, and wish for our Mayor to gain a speedy recovery and a return to politics. However, some fear that his condition may have been triggered by these economically challenging times. I personally feel it can be stressful being a Mayor of a city who demands very high standards from our leaders. We will see how forgiving the people of Milford are when he returns to work, as for the Democrats they will show their true colors next Mayoral election as they always do.

In my opinion, Jim has done a great job holding the line on taxes in 2009, and even presided over the first ever 3% increase in a school budget that usually is double that. Jim has in my opinion, been a very friendly and compassionate Mayor and I wish him, his wife and children all the best in dealing with this difficult unfortunate situation. Lets keep him, and his family, in our prayers.