merchimerch (![[personal profile]](https://www.dreamwidth.org/img/silk/identity/user.png)
merchimerch) wrote2011-05-03 10:44 pm
merchimerch) wrote2011-05-03 10:44 pm
Chase Bank stealing from the poor
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.
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.
no subject
A few weeks ago, I got a letter from Chase that actually cited a bill by name to explain why they were cancelling the program. Of course, the problem isn't the rewards but the fee, yet Chase strongly implied that the mean ole gov't just doesn't want people to get rewards. I really hope no one falls for it.
On the credit card end, though, I think the reforms might have helped a lot of people. They've certainly helped me.