I am taking a page from Melonie by pointing out an unintended consequence.
This past summer there have been changes in the regulation of checking accounts. Banks are now regulated in how they can charge over draft fees. Each bank is making different changes. Along with this is debit card reform ie if the funds are not available in your account at the time of purchase your debit card will be declined.
The unintended consequence is that banks are now bouncing more checks that take a checking account negative. This isnt being reported anywhere yet. But I am seeing it happen at work. In the past most checks were covered because of the fee income that was generated. Now if a check takes the account negative more then fifty dollars the check is bounced.
These changes will also have an impact on stripping in general. The clients that bleed their accounts dry at the atm getting lap dances will be declined alot sooner then they would of been in the past.
The impact on business as a whole have not been felt yet. I think within a year the dynamo effect of these changes will have a huge impact. Many people have relied on the fact they can over draw their accounts to cover costs. They didnt need good credit to qualify. They just had to cover the fees.
Each bank is dealing with these regulations differently. Please check with your bank to find out how these changes will effect you.



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