Posted On: July 14, 2006, 11:15 pm CDT

Posted By: RJ

As far as I'm concerned the banking industry needs the competition. They control all financial decisions within the state and federal legislatures now. That means they currently have nearly free reign to do to the consumer as they please. I see no reason why retailers shouldn't be able to find a way to cut the fees charged to them for accepting the banks credit cards. We, as consumers, are paying double. The retailer has no choice but to add the bank fee/cost of processing a credit card on to the consumer, and, unless you're fortunate enough to always pay off CC debt monthly the bank makes more from the exhorbitant interest rates.

Have you heard of any banking legislation being opposed recently by any state or federal legislatures? Have any legislatures opposed the exhorbitant consumer interest rates or fees being charged by banks? Consumers...wake up...instead of passing along negative propaganda about successful companies attempting to improve their costs and stay successful/profitable, i.e., the Wal-Marts or the Microsofts...contact your legislature about the abuses and unopposed priviledges your bank is taking.