[NeedlecraftPals] BANKING FEES QUESTION

 

 Hi everyone. I am so disturbed at the newest shenanigans from the bank, I have to ask you how many of you got the information that they're eliminating free checking,  slapping on monthly fees and/or restrictions to force us to maintain greater balances and spend more from our accounts. In my case, Webster's calling it "Value Checking" with an 8.95/month fee if you don't maintain $1,000.00 balance or make 10 purchases a month. For people on fixed incomes, Social Security and things like that, this is very difficult and detrimental, not to mention discriminatory, in my view, I think. We're waiting to see what my Mother's Bank is coming up with. She has Bank of America. We are in Connecticut, and I understand this is the banks' way of making up for tighter regulations in other areas that happened recently, so it looks like it's a nation-wide move on their part. While I could understand a small fee per month of a dollar or 2, 8.95 could deplete the balance fast and seems excessive to me. I'm wondering what everyone else thinks and what ideas you all might have to fight this. I e-mailed our state Attorney General asking about stopping this, and I let the bank know how I feel about it. I don't know what the average amount of a Social Security check is, but I know a lot of people get less than 1,000.00 a month. Maybe groups like AARP could help with this?...Linda H .

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