Sen. Charles Schumer was objecting to banks hitting consumers with ATM fees twice per transaction — a practice he called “double dipping.”
Schumer said Sunday that 72 percent of banks charge their customers whenever they use another bank’s ATM, even though they’re already paying a fee to the bank that owns the ATM.
Schumer said ATM fees were up almost 13 percent in the last year.
Messages left with banking industry groups were not immediately returned Sunday.
(Source: WCBSTV)
Join the official YWN WhatsApp status
One Response
Dear Chuck U Schumer,
I am so happy to see that you are alive and well. Of course the only time we hear from you is on weekends aka slow news days but that seems to be your mantra over the years.
I have to say while no one is happy with the ATM charges you are, as you often do, misrepresenting the facts. The facts are that most people are being charged for “privilege” of withdrawing money from an ATM not belonging to their bank by the ATM owner AS WELL AS from the bank where the account is.
You are making it sound like those evil banks are double charging and the truth is they are not. When you go into a store to purchase milk (do you even do such mundane things anymore??), you are paying the owner of the store for the milk. WHY?!?! They should just give it to you! No, Chucky, you are paying them for the service they are providing which is the same thing you are doing for the ATM that doesn’t belong to your bank.
Of course, like Yogi Bear you think you are smarter than the average bear and so you will create more laws to stop this from happening but what will happen is the companies, WHICH ARE WAY SMARTER THAN YOU’LL EVER BE, will get their money in some other way. In simple words, you are a looser eather way!!!