Whenever you force a company (and banks be a company) to do anything that decreases their profits they will find a way to get that profit back in their budget. Be it firing a few folks or increasing the price of something else. Therefore, in my humble opinion, regulation be bad. No matter what an intraweb article written by some ole boy smarter than me says.
My mom died still owing $16,000 on a CHASE loan she took to remodel her kitchen with her large, expensive house as collateral. CHASE was notified that the estate was in probate and were kept informed that there would be a delay until I could get legal access to my mom's accounts and pay them off. But they foreclosed on the house on 30 days notice before probate could be completed, forcing me to take money out of my savings to pay the note and then was hit for their attorneys fees for foreclosing on a dead woman. I won't bank with them, I won't borrow from them, I won't hold their cards. It is predatory bankery at its worst.
Bud, that's why they need to be regulated, if you let those bastards go unchecked they will f*ck everyone, with no kiss, no reach around, no scrote tickling, nothing.
That’s right, you don’t like the way they do business you go somewhere else. Both Red’s and Okie’s situations were terrible. In Red’s scenario they were in their legal rights to do so, it sucks balls and a small town bank that are people friendly would of NEVER have done it and I feel for him, but government regulation is not the answer.
Consumers need to realize that they are the most powerful regulators around. The government is not needed.
I got a letter from Chase a few months ago saying I will have to start paying $12 a month for my checking account instead of it being free. I promptly transfered all my money into another bank's free checking account and closed my chase account. I'm not paying a penny for a checking account if I can get it for free somewhere else. (this has been an example of the free market and capitalism, don't let the unions or Harry Reid see the contents of this post)
