Dodd-Frank “help” hurts bank customers

posted by
February 15, 2011
The Orange County Register
by Ed Feulner  
Posted in Commentary, PND Commentary

"'I'm from the government, and I'm here to help.' Ronald Reagan called those 'the nine most terrifying words in the English language' -- and with good reason. Nowhere do we see good intentions go awry more regularly than in the hallowed halls of government. Case in point: bank fees. You'll likely be paying more in the coming months, if you're not already, for many ordinary transactions. Banks are looking at how they can slap additional fees on credit cards and checking accounts, as well as ways to make more money from ATMs and debit-card purchases. Why? No, it's not old-fashioned greed. After all, these institutions are competing with each other for your business. They want to attract customers. Unfortunately, though, they're coping with the fact that last year's much-heralded financial 'reform' legislation –- better known as Dodd-Frank, after its congressional champions –- is dictating what they can and can't charge for certain transactions." (02/15/11)  

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