WOW - part II
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First, banks had to worry about bad loans taking a bite out of their interest income.
Now, consumers are pulling back on their use of ATMs, and they're not writing as many checks, so fewer require overdrafts.
So some financial institutions are seeing dwindling levels of what's known in the industry as "non-interest income," which includes ATM, overdraft and other customer service fees.
"The economy is very weak, not just in credit, but where consumer spending is important, such as deposit service charges," Fifth Third Chief Executive Kevin Kabat said last week.
.....now the banks are bitching because people are paying fewer exorbitant ATM fees and OVERDRAFT FEES? Seriously? Seriously??
Anyone wanna bet next we're gonna see jacked up monthly maintenance fees for checking accounts, penalties for not using ATMs, and random service charges depending on the phase of the moon and the ambient air temperature?
First, banks had to worry about bad loans taking a bite out of their interest income.
Now, consumers are pulling back on their use of ATMs, and they're not writing as many checks, so fewer require overdrafts.
So some financial institutions are seeing dwindling levels of what's known in the industry as "non-interest income," which includes ATM, overdraft and other customer service fees.
"The economy is very weak, not just in credit, but where consumer spending is important, such as deposit service charges," Fifth Third Chief Executive Kevin Kabat said last week.
.....now the banks are bitching because people are paying fewer exorbitant ATM fees and OVERDRAFT FEES? Seriously? Seriously??
Anyone wanna bet next we're gonna see jacked up monthly maintenance fees for checking accounts, penalties for not using ATMs, and random service charges depending on the phase of the moon and the ambient air temperature?