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.

[merchimerch.livejournal.com]

Yep, I love love love my credit union. Free bill pay, $2 fee to transfer funds in from my savings account if I calculate wrong and over draw my checking. They are wonderful and non-profit.

My Bosnian outlaws did not grow up with credit unions and are nervous about the transfer; all the same, I think that I've convinced them about the credit unions, even though they're concerned about ATM availability. They don't really believe that the plus network thing for CUs works (even though I use it all the time).