Thursday, February 05, 2015

Can We Afford this Bleedout by the Banks?

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We need an amendment to the Constitution, that limits the total "fees" bank institutions can charge to both parties in a transaction, to 1% combined, when the transaction requires only electronics to complete the transfer.

Currently banks are raping this country, picking up 2 to 4%, of every transaction they handle. It is completely insane that we as a nation put up with this. The money saved to consumers would put far more cash back into circulation than anyone can imagine.

The cost to a bank for handling such transactions is miniscule, compared to their current charges, and even 1% would be gifting them huge profits.

Lower those rates, or nationalize those banks.

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