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there's a new trick being used by corporations and big banks with some of
this
low-wage workers are increasingly getting their wages in prepaid carts
the largest american companies including walgreens taco bell and walmart have
done away with direct deposit and paper paychecks in favor of prepaid cards that
require employees to withdraw cash from a tns
now but at face value might look at that as i did originally and say
so what it's just different
but maybe they're doing it because it's more convenient
and it's just easier way to pay people
but when you look at the details it's more complicated than that
most of these cards charge fees averaging
two dollars for a_t_m_ withdrawals and other basic transactions
they charge fees for withdrawals paper statements and corder placements as well
the cars came into existence and are popular
afterall mama had boa good credit card bill pass that crack down on abuses from
credit card companies
and after the doctrine reform
and the consumer financial protection hero which stopped banks from uh...
levying
price-gouging fees from levying illegal feasibly crack down on the banks of
charging people when they they shouldn't be charging people
so one of the banks to
well they start aggressively pushing these carts
which is amassing local because they're completely unregulated
thanks for trying to recruit about thirty to fifty percent of profits from
the now
band fees from payroll court fees and other kinds of transactions
so to give me some specifics on this one mcdonnell's worker who makes seven
dollars and twenty five cents an hour told the new york times he spends forty
to fifty dollars a month on his j p morgan chase card fees
cheese corn users or charge one dollar just to check their account balance
five dollars for in-person withdrawal
and but several other fees as well
there can also be hefty inactivity fees if the user does nothing
so understand what's happening
you get paid
via a pre-paid card
you
have taken get your money out right so what do you do when you go to withdraw
money from the a_t_m_
they charged you when you withdraw your money from the a_t_m_ if you don't
withdraw your money they charge you an activity fees
uh... and then
it you might respond well okay then
why not take it out in one big lump sum so you pay the banks as little as
possible it seems to be a good way to get around it
well they have a way to crack down on that
as well
a lot of banks have a limit on how much money you can take out at one time
so no matter what you know they are going to charge you
what we're dealing with here is the legal mafia
the big banks always have to get their cut in the past
they wanna literature all these things for the different ways
now they are now that's been legalized
and the bottom line is meant
they hadn't earn it
i'm not against capitalism i'm not against
people burning a decent living and charging people for it it's common sense
that that's uh... econ one oh one
but this is not that
missus price-gouging missus getting in between and being it but
for-profit care stopping middlemen
when you didn't do anything
this should be
put to an end immediately