Just finished reading an article about our banks (U.S) and how they are dealing with the changes that they are being forced to make.  For instances ... reduction or elimination of the exorbitant overdraft fee's and interest rates on credit cards.


You would think they would approach the problem by focusing on in-house clean-ups ... because as with any biz, there are many area's where unnecessary wasted resources exist, but noooo.  What they are planning on doing, which really isn't that surprising ... will be to
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discontinue 'free checking'.


The article mentioned that one bank in particular was going to forgo the $600 million that they had previously been collecting in overdraft fee's and turn their attention to other revenue avenues.


My boggle is this, banks of a not so long ago past, were able to thrive without charging these unbelievable fee's and both the consumer and the banks maintain a workable symbiotic relationship.  

The question is 'what happened' ... what really happened that caused a system that was surviving and offered a needed service to the public suddenly and completely 'do a 360' and subsequently became a 'mad money hoarding entity' that squeezed ever penny it could from a public that clearly needs this commodity/union in order to manage their finances.


How do you squander away $600 million [which by the way are proceeds from just one product]?  How are their assets actually being used ... and I don't believe for a second that the small account holders are causing the banks to lose money. 


Mismanagement of funds would seem like a huge part of whatever losses have been incurred over the years, undeserved salary increases and numerous shabby bizness practices are more than likely the biggest cause of their 'so called' deficits.


However, as usual we stand to lose, the average hard working joe/jo ... in the end...