Slashsnake
VIP Member
- Aug 5, 2016
- 589
- 48
- 68
1. Let's require banks to offer truly free checking accounts to people with an income less than $25,000/year, without all the bells and whistles of course, so no check writing, no overdrafts allowed (just declined debit cards), waived bank ATM (not ATM owner) fees, and none of the other "prestigious" benefits like discounts on loans. Banks of course will still make money from debit interchange fees from the #4 proposal, so there is still some profit here.
2. Place a cap on the amount of available credit one with less than $25,000/year can have at $2,000 between all credit card limits to avoid debt problems, no matter how good one's credit score is, and $3,000 for those who make a household income of less than $40,000 a year.
3. Require a maximum APR of 17.99% on loans including lines of credit and credit cards at big banks and community banks, like at credit unions. Place a housing APR max of 12.99% for first time mortgage borrowers and a 5.9% APR max for student loan re-consolidations.
4. Strip away the Durbin amendment. Let banks/networks charge whatever they want. If merchants feel like they're paying too high of an interchange fee, they'll stop taking cards or the networks will lower their fee, so in other words, the free market.
5. Force debit card swipes/inserts/taps to go over debit network and only credit card swipes/inserts/taps to go over VISA/MC/DISC/AMEX network.
6. Cap number of overdraft fees at 1 per day, with a maximum of $35, so yes, M&Shit bank will have to lower their fee by $3.50 to accommodate this.
7. Make wire transfers free and get rid of the automatic clearing house. Now America will have real technology that the rest of the civilized world has.
8.Because of regulations on #'s 2 and 3, loosen up lending underwriting and give out more loans to small businesses. When you're not sucking every penny out of your client, more will be willing to borrow from you.
9. Require a bank to offer at least one fixed rate credit card, variable is annoying.
2. Place a cap on the amount of available credit one with less than $25,000/year can have at $2,000 between all credit card limits to avoid debt problems, no matter how good one's credit score is, and $3,000 for those who make a household income of less than $40,000 a year.
3. Require a maximum APR of 17.99% on loans including lines of credit and credit cards at big banks and community banks, like at credit unions. Place a housing APR max of 12.99% for first time mortgage borrowers and a 5.9% APR max for student loan re-consolidations.
4. Strip away the Durbin amendment. Let banks/networks charge whatever they want. If merchants feel like they're paying too high of an interchange fee, they'll stop taking cards or the networks will lower their fee, so in other words, the free market.
5. Force debit card swipes/inserts/taps to go over debit network and only credit card swipes/inserts/taps to go over VISA/MC/DISC/AMEX network.
6. Cap number of overdraft fees at 1 per day, with a maximum of $35, so yes, M&Shit bank will have to lower their fee by $3.50 to accommodate this.
7. Make wire transfers free and get rid of the automatic clearing house. Now America will have real technology that the rest of the civilized world has.
8.Because of regulations on #'s 2 and 3, loosen up lending underwriting and give out more loans to small businesses. When you're not sucking every penny out of your client, more will be willing to borrow from you.
9. Require a bank to offer at least one fixed rate credit card, variable is annoying.