Home > Consumer Action, Economy > Credit Unions vs Banks, Easy Choice as Banks Drop Free Checking

Credit Unions vs Banks, Easy Choice as Banks Drop Free Checking

February 4, 2011

LA Times reports today most major banks are dropping free checking. These banks are shameful. Too many have used taxpayers, TARP and 0% Federal Reserve money to bail them out after engaging in unethical loan practices and risky behavior in the derivatives market. Many are using cheap 0% Federal Reserve money to make investments overseas. Many are refusing to help modify home loans for everyday Americans who are trying to save their home. And many have denied 10s of thousands of small businesses loans over the past two years. Who needs them?

There is a solution – stop doing business with these banks — Bank of America, JP Morgan Chase ( now accused of complicity in the Bernie Madoff Ponzi-scheme), Citibank, and Wells Fargo and any other who charge you a checking fee or any other unreasonable fee. Enough is enough. The other part of this solution is to find a quality community bank or credit union. I use a credit union. I am a member, not a customer. They know me. They are helpful, We are vested together in mutual interests.

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