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What do you think about the new rules the Federal Reserve is drafting for cutting debit card fees?
Would these new rules help or hurt your business?
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1 Answer
I am personally against restrictions on individual freedom.
Now in regard to:
1. banks that charge exorbitant fees for debit transactions (and monstrous overdraft fees when an account inevitably goes negative), I choose not to work with them.
2. banks that give prizes and awards to entice customers to use their debit cards.
3. companies that comb college campuses, and even high schools to sell credit cards, etc..
I consider these companies (especially banks), to be predatory bullies.
I'd like to see banks get back in the business of lending money, but I don't want my government to force them to do anything.
Bottom line: Banks (and other legal businesses) should be allowed to offer whatever products they want.
Wow this went long. Sorry!
Thanks,
Tony
Anthony C. Gruber, CPA
President, Viser Business Tools
www.FinancialFirmTemplate.com
www.SmallCompanyTools.com
www.401kTest.com
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