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Tag Archives: bank of america

Unable to Open a Checking Account? Thank the Government

Posted on August 4, 2013 by Tony Lima

Are you unable to open a checking account? You may thank the government (as well as the media, particularly the New York Times). The two have waged a war against overdraft fees for the last decade. There have been many new regulations and actions designed to increase the cost and reduce the revenue banks receive from overdraft fees. Any economist can tell you that when you put a price ceiling in place, a shortage will develop. In this case, the shortage is expressed as fewer bank accounts being opened, particularly for people likely to re-bounce (a term I just invented). Continue Reading →

Posted in Current issues, Economic policy | Tagged bank of america, banks, checking account, checks, citibank, featured, jpmorgan, new york times, overdraft fee, overdraft fees, overdrafts, second chance checking accounts, wells fargo

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TARIFF, n. A scale of taxes on imports, designed to protect the domestic producer against the greed of his customers. — Ambrose Bierce

“Everybody knows that once something is declared a right, the laws of supply and demand are automatically repealed.” – Ben Shapiro, podcast, September 4, 2018

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