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itguy05
join:2005-06-17
Camp Hill, PA
| reply to Ahrenl
Re: Cartels
quote:
Banks? Seriously?
Yeah. Do you not have any idea the consolidation that's been going on in the past 10 years. Around here, we had many local banks that had varying fees and rates. Life was good.
Now we have 4 majors:
Commerce
PNC
Wachovia
Soverign
One or 2 locals, and a couple credit unions. If anything, the CU's are increasing as people get fed up with the BS at the Big Banks.
Just the other day, there was an article about new BoA ATM fees. The summary was that now that BoA did it, everyone else would be shortly.
And, shockingly enough their rates, fees, and other stuff are pretty much the same.
The same has been happening to the oil industry. Consolidation and collusion. | |
Ahrenl
join:2004-10-26
North Andover, MA
 ·Verizon FIOS
| Maybe in your town.
We have four somewhat different majors here, plus 100s of locals.
We Have:
BoA
Citizens
Soverign
Citi
Fees vary wildly, rates are set by a MARKET, not by the bank. The bank has to borrow the money they're going to loan to you. It's call the price of risk.
I'm sorry if your feeling underserved, banking wise, in your community. (I can't believe there's anywhere that's underserved banking wise) The military invented this interweb thing that allows you to borrow from any bank in the world, so don't feel hemmed in by your geography. | |
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