I think regulation is being stepped up. Deregulation of the banking industry took decades I dont think its going to be re-regulated over night. We have to be patient.
And looking at the first article, why would you want to use a credit card if you are now paying an account fee if you pay your card off every month. This really hurts people that use cards right and will just be another ignored fee that those that abuse cards glance over when the bill comes. Cash is King
Agreed, seems like a decent first step, and creating an incentive to back off credit cards and stick with paying within your means is a good thing at this point.
I agree that this all seems to be like a good first step. As mentioned in class today, some banks are beginning to create their own regulations, which is a good thing. However, I would rather rely on federal regulations than on the ones that the banks make because they are the ones that put us in this situation and will most likely be looking out for their one self interest. I also agree with Zach that I do not like the idea of the banks adding monthly fees to credit card accounts. I think that the money banks are able to make off of us storing our money with them should be enough, and that situation sounds rather greedy to me.
As has already been mentioned, re-regulating the banks is going to be a long and arduous process, both politically and bureaucratically, and will certainly not happen overnight. However, these are important first steps.
I think regulation is being stepped up. Deregulation of the banking industry took decades I dont think its going to be re-regulated over night. We have to be patient.
ReplyDeleteAnd looking at the first article, why would you want to use a credit card if you are now paying an account fee if you pay your card off every month. This really hurts people that use cards right and will just be another ignored fee that those that abuse cards glance over when the bill comes. Cash is King
ReplyDeleteAgreed, seems like a decent first step, and creating an incentive to back off credit cards and stick with paying within your means is a good thing at this point.
ReplyDeleteI agree that this all seems to be like a good first step. As mentioned in class today, some banks are beginning to create their own regulations, which is a good thing. However, I would rather rely on federal regulations than on the ones that the banks make because they are the ones that put us in this situation and will most likely be looking out for their one self interest. I also agree with Zach that I do not like the idea of the banks adding monthly fees to credit card accounts. I think that the money banks are able to make off of us storing our money with them should be enough, and that situation sounds rather greedy to me.
ReplyDeleteAs has already been mentioned, re-regulating the banks is going to be a long and arduous process, both politically and bureaucratically, and will certainly not happen overnight. However, these are important first steps.
ReplyDelete