Regular Contributor
Posts: 133
Registered: ‎03-28-2008
Re: What you should know about the Dodd-Frank Act

I believe this reform will probably somehow down the road benefit the banks.  They will find a way to take away from consumers just like protecting us the consumer from the craziness of all the fees they would charge. Now they just found a new way to charge us and increase it.  Look at chase - they now charge 34.00 returned or overdraft charge and in addition if you have not paid the money back within 5 days they give you another 15.00 charge for additional late fee.  Pretty swife.  As a consumer I believe that all these protections are in place and the banks find a way around them so that they can double and triple there money.  I would love to feel more protected but when our own government is out of money how can anyone protect us.  We need to protect ourselves and not overdraft and pay our credit cards off and get back to the business of living within our means.  The government doesnt seem to know how that is done so maybe we the consumer need to show them how to do it.  I know with all these things in place it has made me stop using credit cards and pay them off and make sure I have a good budget in place and no exactly what I am spending so that I don't give the banks any more of my money.  I think it is a great thing that we can pass on to our children and grandchildren.  I am for becoming debt free and using only my money and not anyone elses for the things that I can eventual save up for.  Sure a house, a new car well then you have to go that route but otherwise I think that I needed to change my way of thinking.  I needed to become the banker with my money and that is my goal.  I think most of us are only everyday people who are doing the best they can and there is never any help out there for them so we need to get realistic and do it for ourselves.

Starting Score: 800
Current Score: 800
Goal Score: 850

Take the FICO Fitness Challenge