Banks Fees Will be Revised - New Scams Update

An article in the New York Times announced Chase and Bank of America will do a massive overhaul of their debit card programs.

The banks say they will change the way they credit transactions and start crediting them as they happen- rather than from highest to lowest in the "rearranging transactions to get more fees game" they have been playing for years .

Sounds great - but it seems that if they need an overhaul its an admittance of guilt and they should give back all that money they have stolen over the years

But...of course, that won't happen. I guess we should just be glad they are not going to be playing that game anymore right.

But do you really think they will stop stealing your money?

I think they have a new set of tricks up their sleeves that will take consumers by storm. A game that will allow the banks to actually be stealing more than they did before.

After all, Chase has been selected to operate a bank the United States is creating in Iraq and they will certainly need more money to fund that operation.

Where are they going to get it if they stop stealing from customers all together?

They make tens of billions of dollars on overdraft fees each and every year - if they give that up - boy you better watch out - they plan on getting more some other way.

Just my thoughts on the subject - I mean have you ever seen a huge corporation just give up billions of dollars to help their customer? I certainly haven't.

Here is a nice little update for ya, o.k so the banks have now begun to clear items as presented instead of the rearranging game, nice , newest thing now is holding. Let me explain, If you stop by the Chevron in the morning and use your debit card as a credit lets say, if it will make you overdraft, it comes out right then , if not , then about three days later you will see the charge. now,  before the rearranging game stopped the credits would typically take two days at that same Chevron station to clear your bank. These days , depending on how close you are to overdrafting depends on how quickly those banks clear that credit.