Chase Bank stealing from the poor

[merchimerch]

My mother outlaw just got shafted by Chase Bank.

She was a loyal WaMu customer, and had her Social Security and supplemental checks direct deposited into a free checking account.

As you all know, WaMu went bankrupt and Chase bought them out.

They've now decided that they need $10 a month from her in fees, because she doesn't have a single check that amounts to $500 directly deposited every month.

This is just awful. She's getting squeezed in so many directions, with cuts in her Social Security payments and now this.

At this point we'd like to transfer her stuff to a credit union, but that's going to take a lot of hassle and paperwork. Thank goodness she has two strong English speakers to help her.

The new reality of financial reform really does seem to be taking from the poor to benefit the corporations.

Comments

[elusis.livejournal.com]

I took great pleasure in walking into WaMu-becoming-Chase and withdrawing all my money, then closing my accounts.

Went to a credit union and never looked back. I grew up in a credit union as my parents were teachers; I'm crazy to have ever left.

[rednikki.livejournal.com]

I really need to move my money the fuck out of Chase Bank.

[bay-bus-rider.livejournal.com]

Ugh, Chase. The only other way to avoid that $10 is to have a $1500 daily balance—because lots of people have that just sitting around.

I'm not sure I blame financial reform, though. That's what banks want us to believe, but seems like it's really just them figuring out how to still squeeze us in different ways.

[boldcat.livejournal.com]

This is how banks trying to compensate Obama's credit card rule changes. Due to shrinking of income from debt-holders, they should increase account-related payments. Sorry for your mother outlaw.