Another reason to vote for the Bern....ATM fees!
Another reason to vote for the Bern....ATM fees!
Yahoo news
During a Hilary guest spot on Late Show with S. Cobert:
“What gets lost in the mix is that a lot of ATMs are privately owned,” and not run by banks, he said. Moreover, “ATM networks are expensive to maintain,” and fees help banks “cover the cost of maintaining those networks,” he said. Consumers who go to out-of-network ATMs are paying for convenience, Pommerehn said.
The idea would, however, line Clinton up neatly with her closest rival, self-described Democratic Socialist Sen. Bernie Sanders of Vermont. Sanders has been battling banks on that turf for decades in speeches and legislation dating back to his days in the House of Representatives.
“Sen. Sanders has been fighting against sky-high ATM fees since 1996,” his policy director, Warren Gunnels, told Yahoo News by email. “As president, Sen. Sanders would make it a priority to stop big banks from charging these outrageous fees.”
Whether they are outrageous or merely the price of convenience is a matter of debate. But they are certainly soaring. A survey of 25 major markets released in early October by the financial services company Bankrate found that the fees have climbed 21 percent over the past five years, to a national average of $4.52 per transaction.
Another reason to vote for the Bern....ATM fees!
Yahoo news
During a Hilary guest spot on Late Show with S. Cobert:
“What gets lost in the mix is that a lot of ATMs are privately owned,” and not run by banks, he said. Moreover, “ATM networks are expensive to maintain,” and fees help banks “cover the cost of maintaining those networks,” he said. Consumers who go to out-of-network ATMs are paying for convenience, Pommerehn said.
The idea would, however, line Clinton up neatly with her closest rival, self-described Democratic Socialist Sen. Bernie Sanders of Vermont. Sanders has been battling banks on that turf for decades in speeches and legislation dating back to his days in the House of Representatives.
“Sen. Sanders has been fighting against sky-high ATM fees since 1996,” his policy director, Warren Gunnels, told Yahoo News by email. “As president, Sen. Sanders would make it a priority to stop big banks from charging these outrageous fees.”
Whether they are outrageous or merely the price of convenience is a matter of debate. But they are certainly soaring. A survey of 25 major markets released in early October by the financial services company Bankrate found that the fees have climbed 21 percent over the past five years, to a national average of $4.52 per transaction.