A $5 surcharge for debit purchases?
What gives? I'll tell you what. . .
Micromanaging bean counters, an overactive Congress, and an elite President insist that they are doing what is best for you and me by regulating the banking industry.
Initially, they wanted to curtail the merchant fees that banks could collect from clients. Since banks or in the business of making money, not just holding it, they have to reap profits elsewhere.
The bottom line for a financial institution will always be its Bottom Line.
So, once again, in all their elite wisdom, Democrats have stepped into economic affairs way over their egg-head minds, and have inadvertently fallen for the Law of unintended consequences.
Except We the People have to stomach these outrageous fees, not the Beltway Powers that Be.
Next time, the federal government should let the banks take charge of their own affairs, or we will all be charged more than ever before!
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