Big Banks - Heads They Win, Tails You LOSE!

[monster_gardener]

Consumer Expert Clark Howard warns about another scam of the Brain Dead No Service Big Banks.... .

Warns that the account service agreements for the Banks runs to IIRC 69 pages on average.... Written in legalese that different teams of lawyers would dispute over....

If there is a dispute on the account, the agreement require "arbitration" which the Banks win 99.5% of the time.......

But the kicker is that even if you do win, the service agreement requires you to pay the Bank's costs........

Heads They Win......... Tails You Lose........

WASHINGTON — Some consumers might be in for a surprise if they take their banks to court over checking or credit card disputes: A provision in account agreements says even if you win, you lose.

Checking account disclosures at four large banks and one large credit union make the customer liable for the bank's losses, costs or expenses — including attorney fees — from any dispute over the account, regardless of who wins.

http://articles.latimes.com/2012/jun/21 ... y-20120621

Clark suggest that if possible you bank at a small community bank or credit union (but see above... Beware of Big Credit Unions too...... ) .............

http://en.wikipedia.org/wiki/Clark_Howard

http://www.clarkhoward.com/

[Mr. Perfect]

Anyone want to hazard a guess why anyone does business with these banks?

[Hoosiernorm]

Are you talking about the good old days when most banks had multiple networks to work through. One card would work with one store but not at the ATM beside the store. Some retailers wouldn't be able to process some transactions without complex phone/contract forms and the like. There were a lot of places that wouldn't take a mastercard if it wasn't issued by a bank that they were affiliated with or weren't tied to via their credit card billing system.

[Mr. Perfect]

No, I have never done business with a TARP bank. Never in terms of opening an account.

Anyone know why anyone would open an account with these folks?

[monster_gardener]

Anyone want to hazard a guess why anyone does business with these banks?

Thank you Very Much for your post, Mr. Perfect.

I'll make several guesses........

If they grew up in California, they may have gotten their first bank account with one of them as part of Elemental School ..... IIRC Bank of America originally now BOFA ** ..............See programming/socialization below.........

Otherwise.... Perhaps not being eligible for a Credit Union.....

Or lack of Due Diligence...... and shopping around.......

Maybe the paycheck is from an account at a Big Bank.......... and you can avoid a fee by cashing it there so why not have an account there too...

Advertizing.... Programming..... Socialization....... Being impressed by the Temple like buildings that Big Banks have.....

Almost like you are entering the Parthenon which was BTW a Bank/Treasury.........

Banks being the repository of that Holy substance....
Crystallized Time
Yours and Mine........
Also known as Money..........

Clark previously talked about the fact that many small businessmen do business with the Big Banks but these same Banks won't make loans to them....
Mentioned an internet tool that can be used to check whether a bank is making loans locally....
Again encourages people to use credit unions and smaller community banks.......

If the Credit Union is small enough......... your vote as a member can make you important....
Know from experience that fees at a Credit Union are lower than at a Bank........

Maybe/Probably there are some specialized services that a Big Bank offers that a Credit Union doesn't...

But that's so far, is above my pay grade Down in the Black Gang...........

To paraphrase Prez Choom Man the Lazy Ego Maniac Dog Eater.......

Probably just as well.........

Remembering the greater dangers of a business credit card vs. a personal one........

Cash is King.....*
Debt is Dumb........
But you may need to pack a gun.........
Like Dave Ramsey does.........

Anyway the main point is that Bankers and Banksters are like me, killer apes/pigs with a depraved sinful nature and not to be trusted... despite the fancy suits they wear and money they have......


*For now....... Remembering Wiemar and Zimbabwe..... When & Where........

oh8W8CsfK38

**Bank of Fire and Air = Hot Air, Smoke and Mirrors, Your Cash Ain't Nothing But Trash etc.