Dick Fees

J

JakeStratham

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Oct 28, 2009
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Location, Location
You're probably familiar with Dick Durbin's recent interchange fee legislation.

The following is a lesson about legislation/regulation and unintended consequences. It's a short lesson...

The Interchange Fee Rules Hit Home - Megan McArdle - Business - The Atlantic

McArdle's punchline:

So, thanks for nothing, Dick Durbin. I sure hope Target and Wal-Mart sent you a nice fruit basket.
Click to expand...
I'll bet some of the OWS crowd were ecstatic about the state "sockin' it to the banks." One for the little folks, right? lol


Longer, but a good read:

The Durbin Amendment Explained
 


Credit Unions are seeing a surge of new customers as well. I'd bet on legislation increasing taxes or fees to those next to drive customers back to standard banks.

Maybe not, but somebody is getting a big donation from BOA and going to promise some favors to get things back on track.
 
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