-
'Consumer Protection' Always Means 'The Consumer Gets Robbed'
-
The Senate passed price controls on debit transactions, which mostly means that they can't gouge the retailers every time you swipe a debit card. So the banks will just find another way to gouge, meaning that you'll pay for this. Same for a proposal in Congress to cap ATM fees at 50 cents, which can only mean the death of independent ATMs and fewer bank ATMs, and higher fees for everything else to make up the difference. The politicians know that you're going to get screwed, and they don't care. They figure that all you'll notice is the end of one fee, and think they're helping you.
Have an opinion? Add your comment below.