Tyray Solomon
03/35/2015
Room for Debate
My topic that I chose was about banks charging a lot of fees to consumer and whether or not it be more regulated by the federal government. I chose this topic because I wanted to voice my opinion about why it is important that our government should regulate banks about what fees are appropriate to charge the consumer and what is not to hold banks fully responsible for giving out risky loans to people and families. For example I remember when the housing market was really bad and the banks were giving out risky home mortgage loans to people and families knowing the rate is too high and that more than likely most people are going to be unable to afford it at some point.
Eric T Schneiderman- New York State Attorney General
I was reading the article about what the New York State Attorney. General about his feelings on more government regulation on banks. In his opinion it should be more regulated because it eliminates the banks from doing shady business deals with the consumers on the fees and services that banks provide it also can protect consumers from different over draft fees and other fees that banks charges its members without notifying people, for example he suggested to eliminate overdraft fees and to have a line of credit to pay for the overdraft costs because the fees would be lower in the long run and stop doing recurring charges for check books without notifying the member. In the mist of the bank financial crisis. President Obama created a consumer protection Bureau division to crack down on banks from doing bad business practices and bad business models. The fees not only hurts the consumers but it can also hurt low income individuals and families. Ever since the crisis and the bailouts of the majority of banks, less than one-third of banks offers free checking accounts and charges monthly maintenance fees if an individual person does not meet the monthly income requirements. That in my opinion should be eliminated because everyone does not have a job that pays a lot bi-weekly to meet that requirement and it targets the low income families.
03/35/2015
Room for Debate
My topic that I chose was about banks charging a lot of fees to consumer and whether or not it be more regulated by the federal government. I chose this topic because I wanted to voice my opinion about why it is important that our government should regulate banks about what fees are appropriate to charge the consumer and what is not to hold banks fully responsible for giving out risky loans to people and families. For example I remember when the housing market was really bad and the banks were giving out risky home mortgage loans to people and families knowing the rate is too high and that more than likely most people are going to be unable to afford it at some point.
Eric T Schneiderman- New York State Attorney General
I was reading the article about what the New York State Attorney. General about his feelings on more government regulation on banks. In his opinion it should be more regulated because it eliminates the banks from doing shady business deals with the consumers on the fees and services that banks provide it also can protect consumers from different over draft fees and other fees that banks charges its members without notifying people, for example he suggested to eliminate overdraft fees and to have a line of credit to pay for the overdraft costs because the fees would be lower in the long run and stop doing recurring charges for check books without notifying the member. In the mist of the bank financial crisis. President Obama created a consumer protection Bureau division to crack down on banks from doing bad business practices and bad business models. The fees not only hurts the consumers but it can also hurt low income individuals and families. Ever since the crisis and the bailouts of the majority of banks, less than one-third of banks offers free checking accounts and charges monthly maintenance fees if an individual person does not meet the monthly income requirements. That in my opinion should be eliminated because everyone does not have a job that pays a lot bi-weekly to meet that requirement and it targets the low income families.