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  #1  
Old 11-25-2013, 02:29 PM
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US banks warn Fed interest cut could force them to charge depositors

So, let me get this right: you want me to pay you to deposit money in your business, so that you can then profit from it? **** you......


"Leading US banks have warned that they could start charging companies and consumers for deposits if the US Federal Reserve cuts the interest it pays on bank reserves."
US banks warn Fed interest cut could force them to charge depositors - FT.com

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  #2  
Old 11-25-2013, 02:56 PM
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Link is a little dodgy.
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  #3  
Old 11-25-2013, 09:31 PM
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The criminals at Bank of America already do that with their fee structure.
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  #4  
Old 11-25-2013, 09:40 PM
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Guess I'll be keeping it under the mattress. Actually, I doubt it will come to that, since the mood on the Fed Board of Governors seems to be shifting to policy tightening (even if unemployment doesn't meet goals -- refer to the October meeting minutes).

Yellen may be coming in, but the makeup of the voting seats on the board on the whole is becoming more conservative come January.
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  #5  
Old 11-25-2013, 10:51 PM
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ya know this is just one more reason i hate bamks.i got an ins check for some recent hail damage,came out to a little over 3k.it was spred over 3 different cars.so i got 3 checks,anyway i went into my bank which i have had for 35 yrs,everybody there knows me.i go in and want to cash the checks.they then say that they now have to ask what i'm doing with that much cash.i thought none of your damn business,but just said i was gonna buy a car out of state and they wouldn't take an out of state check.and cash usually helps talk down the price,and that was the end of that.
still pisses me off that they even asked.it is none of their damn business.
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  #6  
Old 11-25-2013, 10:55 PM
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Nope, they don't have to ask unless there's some crazy state or local law -- I took out about that much to go to an auction a few months ago and no one asked me a darn thing.
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  #7  
Old 11-26-2013, 12:06 AM
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Is this the same thing Greece was doing or Italy. I cannot recall the country but it didn't go over well
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  #8  
Old 11-26-2013, 12:08 AM
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Originally Posted by MTI View Post
Link is a little dodgy.
Damn paywall.
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  #9  
Old 11-26-2013, 12:19 AM
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Originally Posted by catmandoo62 View Post
ya know this is just one more reason i hate bamks.i got an ins check for some recent hail damage,came out to a little over 3k.it was spred over 3 different cars.so i got 3 checks,anyway i went into my bank which i have had for 35 yrs,everybody there knows me.i go in and want to cash the checks.they then say that they now have to ask what i'm doing with that much cash.i thought none of your damn business,but just said i was gonna buy a car out of state and they wouldn't take an out of state check.and cash usually helps talk down the price,and that was the end of that.
still pisses me off that they even asked.it is none of their damn business.
Well I was told that any personal amount deposited over ten thousand was to be reported to the government years ago. So I never deposited that much at a time. I asked a friendly teller about it a year ago. She told me things have changed. Now it's the pattern of deposits. If it fits certain guidelines it is reported on a form.

Maybe my tolerance of things is getting less. At a typical car check stop this past week the cop had his head right in the window. I felt like asking him if he wanted a kiss.

Instead I asked him what he was looking for. He said nice car. I told him it was the wifes. Then he asked me if I was coming home from work as there is no work places out in the area I was coming from and it was 1.00 pm. I of course figured they were looking for drivers under the influence of something.

This guy was just too much into my personal space. I think he picked up the message though. I was slowly getting mad and he sensed it. I did not respond to where are you going at all. Was he baiting me? Hard to absolutely say but it sure seemed like it. I doubt if there were not three cruisers and four other cops if he would have acted the way he did.
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  #10  
Old 11-26-2013, 03:18 PM
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I hope they do that, than I will have no problem finding people who want to be hard money lenders.

What the bank wants to charge you for keeping your $250K? How about I give it a nice cozy home @6% in some real estate.

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  #11  
Old 11-26-2013, 04:04 PM
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Originally Posted by Hatterasguy View Post
I hope they do that, than I will have no problem finding people who want to be hard money lenders.

What the bank wants to charge you for keeping your $250K? How about I give it a nice cozy home @6% in some real estate.

You know of any hard money lenders that charge 6%?
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  #12  
Old 11-26-2013, 05:05 PM
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How's this any different from a checking account with an annual fee?

Whether you believe it or not, you do benefit from keeping money in an insured depository institution even if there's a slight fee associated with that - unless you don't need the money, in which case you can invest it.
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Old 11-26-2013, 05:50 PM
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Originally Posted by ruchase View Post
How's this any different from a checking account with an annual fee?

Whether you believe it or not, you do benefit from keeping money in an insured depository institution even if there's a slight fee associated with that - unless you don't need the money, in which case you can invest it.
How is that?
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  #14  
Old 11-26-2013, 07:49 PM
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Originally Posted by spdrun View Post
You know of any hard money lenders that charge 6%?
Not yet, going rate is 10% right now.
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  #15  
Old 11-26-2013, 08:03 PM
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Originally Posted by Hatterasguy View Post
Not yet, going rate is 10% right now.
I've actually seen 9-9.5%, but then they bend you over for up-front fees, so you can't really win

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