Banksters eyeing new shakedown tactics

[marmar]

Banks eye higher fees to boost declining revenue
By STEVENSON JACOBS (AP) – 15 hours ago


NEW YORK — Big banks facing big drops in revenue are looking to Main Street to make up the difference.

Checking accounts, bank statements, even popping into your local bank branch could carry a hefty cost as the nation's mega-banks scramble to offset expected damage from the sweeping financial overhaul. The uncertain future has overshadowed otherwise strong second-quarter earnings at JPMorgan Chase & Co., Citigroup Inc. and Bank of America Corp.

All three companies beat expectations this week with profitable results. Yet their stocks tumbled, helping send the wider market sharply lower Friday.

The reason: Investors are worried about banks' future earning power after Thursday's passage of the most dramatic rewriting of banking rules since the Great Depression. Adding to the pessimism are falling trading profits — which all three banks mentioned in the their earnings reports — and weak U.S. loan demand.

The worries are well-founded. Bank of America said Friday it could lose up to $2.3 billion in annual revenue alone just from new restrictions on debt card "swipe" fees, or the money banks charge merchants who accept debit cards. All told, the bill's passage will reduce the value of Bank of America's lucrative credit card business by a staggering $7 billion to $10 billion. .......(more)

The complete piece is at: http://www.google.com/hostednews/ap/article/ALeqM5i0HyquStzJHIwPDAG4GQQc0-_OEAD9H0COTG1

[hobbit709]

1. The bastards will still make a profit

If they were actually losing money I might just have a little sympathy for them-NOT!

[Octafish]

2. Nationalize them.

Problem solved, once and for all.

Same should hold for:

1. Defense Industries
2. Health Care System
3. Energy

[Hubert Flottz]

3. People who cheat, rob and steal belong in jail where they can't

prey on innocent people.

Maybe a little stretch in the cooler would "Rehabilitate" the banksters...but I doubt it.

[hobbit709]

4. If you can get 10 years in a real jail for robbing a 711 of $50

Then stealing billions should get you time in a Supermax instead of a country club prison.

[Hubert Flottz]

6. Or a nice government job like most of the high dollar criminals get.

Laws are for the "LITTLE PEOPLE"

[Hubert Flottz]

8. People who steal $50.00 to feed their kids are "hardened criminals"

People who steal billions of dollars and cause even more hungry kids, are called CEOs, Lobbyists and Leaders.

Charles Manson will never be free another day in his life and that's what he deserves for causing mass "murder"

Bush and Cheney and the Neocon caused the mass murder of thousands in Iraq and they are republican heroes. Where is the "justice" in that?

[Festivito]

9. Or, let them compete with state-run banks as in North Dakota.

One of our contenders for governor hints on such a creation in Michigan.

[glitch]

11. Every state should do this. And people like Jerry Brown should run with it. nt

[lunatica]

5. karmic adjustments can be painful

and in this case I hope they are.

[Uben]

7. Dump the banks........

...join a credit union! I haven't paid a bank fee in many years. I know this is hounded by everyone here, but every customer a bank loses, the better. Let them price their selves outta business.

[lonestarnot]

10. And that will never change.