Major banks collecting less in ATM, customer fees

First, banks had to worry about bad loans taking a bite out of their interest income.

[Boy George]

Oh, the poor banks. My heart bleeds for them. They're only making a modest profit, instead of the obscene profits they've become accustomed to. No wonder they need the federal bailout money-- how else will they reward their executives that brought us this recession (depression?) and buy those new corporate jets?

[MJ Massey]

This is what happens when the banks cater to Wall Street as opposed to their members on Main Street.

This is why I've made it a habit to only deal with 'local' banks or credit unions that don't have to answer to investors, but have to go home to their community where their customers live, and have a more vested interest in their clients.

A pox on the large banking institutions, I say. They are getting what they deserve.

[Mikey]

There is an excess capacity of banks. Some will have to shut down just like excess factories shut down. Start with Citibank. Fifth-third was a leader in making bad, poorly-vetted loans. Screw them!
I feel as sorry for the banks as I do for the states whose gambling related revenue is down. This is a very, very sick society where the banks and governments revenue and profit depend on peoples' incompetence, carelessness, and addictions.

[Break up Big Banks]

Who cares? These banks should be broken up as part of the bailout plan to prevent a collapse of a badly run bank staffed by incompetent people from causing another economic rift across the world.

These banks should not exist.

And any intelligent person avoids doing business with these large corporations, which as the article infers, are more intent on ripping off their customers for various fees than committing to customer service. I bank with a credit union and could not be happier. Corporate banks, and the fact that they are staffed by people not good at their jobs, are one of the biggest problems facing the world economy.

The best thing that could happen to the nation would have been to let these banks collapse and return banking to the smaller institutions, where the employees actually care about individual customers and appropriate oversight is exercised to ensure that incompetent and greedy people do not put their self-interests ahead of the long-term interests of the business.

Hopefully, the fact that these banks and their employees not good enough to make money in the general course of business without relying on ancillary income will spell the end for these corporate banks that only serve to harm the world.

[MJ Massey]

This is epic... I had to share with you all:

Received letters from Chase and Citibank for my credit cards: "Due to profitability concerns, we are raising your interest rate on purchases from prime+whatever to prime+14, with an 18% minimum." Citi is imposing a 20% minimum.

I called them both up and they are not default rates. As a matter of fact, it states in the letter if you do not agree (at least with Citi) you can opt-out and your account will be under the current rules (before the change) and will automatically be cancelled upon expiry of your card.

I'm so glad I pay it off in full, but feel sorry for everyone else that doesn't.

-mj

[TCC]

Whats the matter with you people? Have any of you idiots ever used credit to buy a car? a house? Oh, that's right, I guess not. What do you think local banks are in business for? According to some of your comments, it is just to serve the community, not make money. Please. Look who gives more money back to the community and I think you will be surprised. In 2007 alone Fifth Third gave over 4.3 million in grants to non-profit organizations and over 9 million to United Way. That sounds like an evil company to me?
Are you all working for companies that don't charge any fee for their products or services? If you do it's for a charity. I bank at a large bank and couldn't be happier. I paid 0.00 in service fee's last year. I actually manage my money! I don't overdraw my account and I take advantage of the services that come with my account. They gave me a great rate on my mortgage as well!
Where is all the hate coming from! Get your facts straight!!

[DLB]

I couldn't agree more with TCC. People are so careless and lazy anymore, they blame everyone but themselves for any and all problems.

[Don]

5/3 fees are criminal and immoral...TCC from Grand Rapids is probably in my position...you have a little money, and you are not subject to any fees. But the working poor do run into those fees and it robs them. And what about those interest rates! My savings are shooting up by leaps and bounds on .15% interest. In its futile attempt to please the stockholders, the bank is losing its public.