Tune in to this week’s installment of The Credit Line, hosted by Credit.com’s chairman and co-founder Adam Levin on Los Angeles’ KFWB 980 AM this Saturday, October 15, at 9 a.m. PST/Noon EST. (Tune in here for the live show.)
The show is co-hosted by L.A. radio personality Jeff Levy.
Paying to Use Your Own Money—Bank Fees Explained
These days, the traditional banking experience has gone something like this: You deposit your money in the bank, the bank keeps it secure, and if you have enough money in the bank, you earn interest on it; if you don’t, you won’t. Now, that model is being turned upside down as banks, in response to banking regulations, are beginning to charge consumers high monthly fees to use certain services, or if they do not carry a high minimum monthly balance. Many have expressed their anger over this development, so we wanted to know: what’s the story behind those fees? We talk to Nessa Feddis, VP and Senior Counsel for regulatory compliance of the American Bankers Association, to get the bigger picture.
[Related Article: Many Consumers Outraged by Bank of America’s Big New Debit Fee]
Call in with your questions
Do you have a bank fee-related question? Adam Levin and Jeff Levy are ready to take your calls live this Saturday, October 15 at 9 a.m. PST/Noon EST, at 888-539-2980.
Listen to The Credit Line: