Wells Fargo cheats... big time fraud.

The big banks being allowed to increasing shake down their customers is pretty easy to understand. A big bank gives money to both candidates campaigns in all states. Regardless of who wins, it is just a small "favor" to allow a small rider or legislative change for increased fees for services. So what would seem to be a contentious issue of who is supporting wall street more turns out to be unchallenged as "bipartisanship" has both sides agreeing totally on the same little legislation changes. Credit Card fees do not exceed historic mafia loan shark fees unless the government is the bouncer.

 

What people need to realize is that at a Credit Union, as an account holder, you are a share holder. So, when I needed to borrow just 1,800 dollars to pay off taxes, I got the money.........and paid the borrowed money back 18 months later. When I needed a credit card, they gave me one with a higher limit than any "bank" ever gave me. When I needed not one, but two cars, they gave me a better rate
than any bank has ever given me. And, when I buy a home in 3 years (last one I lost to the banks!!), again, I will get a better rate than any bank has ever given me. In short, credit unions want to service you. And you are consistently rewarded for good behavior, not ripped off!!

 

you're very fortunate, that has not been my experience. if anyone in the metro boston area knows of a good credit union, i would be happy to take a crack at it.

 

I remember the Jimmy Carter years, when you could go down to the local Savings & Loan, and get a CD that paid 12% to 15% interest rate. (But of course, I guess inflation was real bad, too.Your mortgage would have a similar rate.)

We are sure getting screwed now. How many more "Big Banks" will we bail out in the future?

"Too Big To Fail."

 

i miss 8% t-bills. i pulled out a 30 year old bank account statement and showed the 6.5% interest rate to my kids, they couldn't believe it. they all have 30 year fixed mortgages under 4%.

 

Are we being screwed because inflation is no longer in the double-digits?

Don't forget that your local Savings & Loan no longer exists. The industry imploded. The FSLIC (S&L equivalent of the FDIC) went bankrupt, so the feds forced the Banks to bail out the S&L customers.

 

Not necessary screwed through the interest rates, but through all the points, fees, transaction cost, whatever insurance, and other side attacks. For example, making a law that a student loan cannot be subject to bankruptcy probably ensures lower interest rates since the new dynamic allows plundering a student faced with parents and kids with unexpected medical problems, etc....for the entire live of the former student. I don't begrudge Trump following the bankruptcy laws of the US, but I do wonder if this new wave of bankruptcy laws only apply to those with money being allowed to keep their money instead of those forced into debt before they even know what has been done to them.

 

When I referred to getting "screwed", I was just complaining about the low savings rates. I'm an older retired guy, very conservative with my little nest egg. It would be nice to earn more interest than a measly 1%.

 

10,000,000

Get into an equity/bond balanced portfolio, exposure to various sectors and countries, and fasten your seatbelt...

 

i think we are being screwed, because the loan to savings interest ratio has changed dramatically. paying 1% for savings and loaning at 4%? compare that to the jimmy carter years. it's good to be a bank, but enough is never enough for them.