Well, well, our friendly bankers have found new ways to stick it to Baby Boomers (yea, those bankers...the ones your tax dollars bailed out after their greedy shenanigans almost collapsed our financial system). Since Congress lowered the boom on their hidden fees and propensity to small print in contracts (aka "I win; you always lose"), they have retaliated by apply fees to things that cost them nothing and have historically been free.
 
Almost all of us have been hit by new $15 monthly account maintenance fees unless your account has an automatic monthly deposit of $1,500 or more. Also, transfers from your 401K or PayPal now incur fees as well. Want a printed, mailed statement every month? Be prepared to pay for it. And don't even talk about the fee for canceling a check - OUCH!

Now, starting in January, "too big to fail" Bank of America will begin charging $5 monthly just to use your debit card! Bend over America - Theyrrrrrre back! Chase is also testing this to see if their customers will put up with it or revolt. I foresee a brave new world of "nickel and dime them to death" banking.

It sure is nice of the banks to gouge us for letting them make money off investing our money, especially since they now know the government will bail them out no matter what foolish risks they take. Yep, they believe they have Americans by the short hairs and are looking forward to increased annual bonuses for clever strategies that boost their bottom lines.

But just from a marketing standpoint, one would think that a bank somewhere out there would see this as a splendid opportunity to grab a lot of their competitor's customers by advertising their continued free use of debit cards and low fees. It works for Southwest Airlines, which doesn't charge baggage fees. Are there still some honest banking players out there?
 
I wonder just how far the public will be pushed before we start fighting back. For starters, I expect to see more people paying with cash rather than using debit cards. I also hope that Boomers express their anger by moving accounts to financial institutions that do not charge outrageous fees just because they're confident they can get away with it.

I HOPE YOU ARE ONE OF THE BOOMERS WHO DRAW THE LINE! We the people are the only ones who can stop this piracy. TAKE ACTION - FIGHT BACK!