Skip to content
  • Subscribe
  • Facebook
  • Twitter
  • Youtube
  • Instagram
  • Email
  • Home
  • News
  • Opinion
  • Entertainment
  • Features
  • Subscribe FREE to Ray Hanania’s Columns
  • Advertise
Suburban Chicagoland

Suburban Chicagoland

Original News, Features & Opinion

  • About
    • About
    • Advertise
    • Our Writers
      • Ray Hanania
      • Bill Lipinski
      • Aaron Hanania
      • Steve Metsch
      • Steve Neuhaus
    • Terms of Service
    • Privacy Policy
    • Reach Out
    • Submit a Press Release
  • Sections
    • Events
    • Opinion
    • News
    • Features
    • Seniors
    • Comic Strip
  • Library
    • “MIdnight Flight” Online Book
      • Midnight Flight Book Overview
      • Midnight Flight Introduction
      • Midnight Flight Chapter 1
      • Midnight Flight Chapter 2
      • Midnight Flight Chapter 3
      • Midnight Flight Chapter 4
      • Midnight Flight Chapter 5
      • Midnight Flight Chapter 6
      • Midnight Flight Chapter 7
      • Midnight Flight Chapter 8
      • Midnight Flight Chapter 9
      • Midnight Flight Chapter 10
      • Midnight Flight Chapter 11
      • Midnight Flight Chapter 12
      • Midnight Flight Chapter 13
    • Villages, Cities & Towns
    • Federal Office Holders
    • County Officials
    • Legislators
  • Seniors
  • Subscribe to Ray’s Columns
  • Comment
  • Podcast
    • Two Guys on Politics Podcast: A Centrist View on Politics
    • Two Guys on Politics
    • Ray Hanania on Politics Podcast
    • The Arab street Podcast
  • Hanania on Tiktok
  • Toggle search form
  • Author Patrick Girondi
    Prominent producer to write screen adaptation of story on the fight against Thalassemia Books & Films
  • Wreaths Across America Radio logo
    Wreaths Across America Radio Announces New Strategic Partnerships with Veteran Radio Programs Entertainment
  • Orland Township Assessor Rich Kelly
    Taxpayers have an extra month to pay First Installment of Tax Bills Cook County
  • State hearings and transparency needed on Nicor gas cost hikes Blogger
  • William O. Lipinski former Congressman from Illinois (5th and later 3rd District). Photo courtesy of Wikipedia
    Right from the Middle: Newt Gingrich helped fuel America’s political polarization Bill Lipinski
  • Do more for senior citizens like we do for illegal aliens Baby Boomers
  • Typewriter. Photo by Andrew Seaman courtesy of unsplash
    District 230 students receive journalism awards Cook County
  • Cook County Sherif Tom Dart
    Sheriff and District 230 honor students for public service hours Education
  • Author Patrick Girondi
    Chicagoan who invested in research to save children releases new book Books & Films
  • Dr. Helen Edwards Fermilab particle physicist
    Foster, Durbin, Duckworth introduce resolution to name Fermilab Research Center after renowned physicist Dr. Helen Edwards Features
  • Telephone
     Sheriff Dart Warns Public of Phone Scam  Baby Boomers
  • Orland Township Democratic Organization Fundraiser Feb. 23, 2023 at Papa Joe's Restaurant in Orland Park
    Orland Township Democratic Organization to honor Former Secretary of State Jesse White on Feb. 23 Cook County
  • Zwar Restaurant chicken and beef-lamb Shawarma Plate
    How to have a great Middle Eastern meal in Orland Park area Culture
  • Orland First Responders candidates Matthew G. Rafferty and William Bonnar Jr.
    First Responders announce candidacies for Orland Fire District Board seats Cook County
  • D230 students win prestigious art awards Education

Bank of America should change its name

Posted on October 11, 2011November 29, 2019 By Ray Hanania No Comments on Bank of America should change its name
SHARE THIS STORY
        0   
 
  

Bank of America should change its name
By Ray Hanania — Bank of America really doesn’t deserve to carry that name. They are not very American. Or at least, they don’t seem to care much about the American people.

The bank announced it would impose a $5 monthly fee on its bank customers to use their ATM cards.

For those few out there who don’t know what an ATM card is, it is a Debit Card that takes your money out of your checking account without writing a check.

Why would they do that to their customers, you might ask? Greed? Stupidity. Greed? Greed?

Ironically, the Bank of America decision to impose the $5 fee comes right at the time when the U.S Congress is seeking to limit the outrageous profits the banks have been making off of most Americans. But worse, it comes at a time when most Americans are using Debit Cards as an alternative to credit cards as they struggle to get out of credit card debt.

Credit cards have become the driving force behind most bankruptcies. When the economy was good, unlimited credit card spending was good. Well, at least when the economy was good, consumers could earn at least enough to pay the minimal monthly payment due on their credit cards.

But now that the economy is headed towards a depression – we are long past the point of recession – many consumers have turned to the Debit Card (or ATM card) as a solution.

It’s very simple. I’ve done it to eliminate all of my credit card debt. Just one month, you need to be able to set aside the amount of money you normally spend on a credit card and have it available in your checking account. Basically, you replace your credit card spending with debit card spending, while still making your monthly credit card payment.

You need to be able to pay more down on your credit card than the minimum if you want to make a dent in what you owe. And if you can do that – many Americans apparently can – you can eliminate the credit cards and the debt and the huge interest that the robber baron banks are making off of your hard work.

Imagine that thebank gives you 1 percent interest on your savings, and then they turn around and loan out your savings to credit card users at 14 percent to as much as 23 percent (Discover Card is the highest and worst).

But credit cards are owned by the banks. So they are seeing the credit card debt slip and that is hurting their outrageous profits.

So, to punish Americans for trying to get out fro, under their debt, Bank America has decided to take the money from the ATM charges in the form of a $5 monthly fee.

It’s a scam. And Bank of America deserves much scorn for taking advantage of the public just when they need the help.

For too long, the banks have gotten away with economic murder. They have squeezed us with outrageously high interest rates, while providing less and less services. They give us less an less in terms of interest for our investments. And, they have been giving credit card users larger and larger debt limits, regardless of whether consumers can afford to carry large debt.

The banks like to blame everything on the consumers. No one forced them to spend money, the bankers argue.

(Ray Hanania is an award winning columnist. Reach him at www.themediaoasis.com.)

  • Author
  • Recent Posts
Ray Hanania
Ray Hanania
Ray Hanania is an award-winning columnist, author & former Chicago City Hall reporter (1977-1992). A veteran who served during the Vietnam War and the recipient of four SPJ Peter Lisagor Awards for column writing, Hanania writes weekly opinion columns on mainstream American & Chicagoland topics for the Southwest News-Herald, Des Plaines Valley News, the Regional News, The Reporter Newspapers, and Suburban Chicagoland.  

Hanania also writes about Middle East issues for the Arab News, and The Arab Daily News criticizing government policies in the Israeli-Palestinian conflict.

Hanania was named "Best Ethnic American Columnist" by the New America Media in November 2007, and is the 2009 recipient of the SPJ National Sigma Delta Chi Award for column writing.

Email Ray Hanania at rghanania@gmail.com.

Follow RayHanania on Gettr.com, the uncensored Twitter Ray Hanania on Gettr, the new Twitter
Ray Hanania
Latest posts by Ray Hanania (see all)
  • Prominent producer to write screen adaptation of story on the fight against Thalassemia - February 8, 2023
  • Taxpayers have an extra month to pay First Installment of Tax Bills - February 6, 2023
  • State hearings and transparency needed on Nicor gas cost hikes - February 5, 2023
  • Tweet

SHARE THIS STORY
        0   
 
  
 
 
 
      0    
General Topics, Opinion, rayhanania, Suburban Chicagoland Tags:Bank of America, banking, banks

Post navigation

Previous Post: Harry ‘Bus’ Yourell Was a Fighter to End
Next Post: Time to clean the Water Reclamation District’s political filter

Related Posts

  • Former Cook County Commissioner and taxpayer advocate Liz Gorman
    Rauner gets it right naming Gorman as Tollway chief Blogger
  • 1967 publicity photo showing cast members Angela Cartwright, Mark Goddard, Marta Kristen, Bob May (Robot), Jonathan Harris, June Lockhart, Guy Williams and Billy Mumy, courtesy of Wikipedia
    How did Netflix manage to ruin “Lost in Space?” Blogger
  • Wolves Brandon Pirri Bobblehead
    Wolves set Feb. 2 for Brandon Pirri Bobblehead Night News
  • Chicago House soccer
    Chicago House soccer faces L.A. Force Sunday Nov. 6 Chicago
  • Guest author Drew Johnson is an investigative reporter, national columnist and former opinion page editor who serves as a senior scholar at the Taxpayers Protection Alliance.
    Pulitzer committee shows bias in ProPublica activist award Editors Pick
  • Author John Ruane's new book "A Dangerous Freedom"
    “A Dangerous Freedom” confronts Everyman with dangers of murderous killers Books & Films

More Related Articles

Illinois Holocaust Museum Illinois Holocaust Museum wins Architecture Award, named one of state’s 200 Great Places Features
Virtual Pet Parade on Saturday News
Dental exam in a pandemic Opinion
Bridgeview baton twirler stars News
State Rep. Fran Hurley clothing drive Hurley Holds Business Attire Clothing Drive to Benefit Local Non-profit Government
Marie Newman rally hosted by the American Arab Chamber of Commerce and the American Palestinian Club 3rd District Congressional Democrat Marie Newman feted by Arab Americans Chicago

Leave a Reply Cancel reply

You must be logged in to post a comment.

Login with your Social ID
  • OPINION COLUMNS
  • State hearings and transparency needed on Nicor gas cost hikes
    February 5, 2023
  • William O. Lipinski former Congressman from Illinois (5th and later 3rd District). Photo courtesy of Wikipedia
    Right from the Middle: Newt Gingrich helped fuel America’s political polarization
    February 3, 2023
  • Do more for senior citizens like we do for illegal aliens
    February 3, 2023
  • Alderman Raymond Lopez would have made a great mayor
    January 26, 2023
  • Pritzker’s assault weapons ban not enough to make law abiding citizens safe
    January 16, 2023
  • Chicago Mayor Lori Lightfoot must go
    January 15, 2023

Subscribe

  • Ray-Hanania-Newsletter-300-wide-Banner.jpg

Trending

  • Chicago Mayor Lori Lightf... Chicago Mayor Lori Lightfoot must go Chicago Mayor Lori Lightfoot has faile... posted on January 15, 2023
  • Paul Vallas candidate for Chicago Mayor 2023. Photo courtesy of the Paul Vallas website Vallas urges probe in Lig... Vallas urges probe in Lightfoot's CPD scandal and accuses of Congressman Ga... posted on January 16, 2023
  • Alexi Giannoulias, former Illinois state treasurer and candidate for Illinois Secretary of State Secretary of State Alexi... Secretary of State Alexi Giannoulias releases comprehensive Transition Team... posted on January 17, 2023
  • Orland Township Assessor Rich Kelly Taxpayers have an extra m... Taxpayers have an extra month to pay First Installment of Tax Bills In Cook... posted on February 6, 2023
  • Cook County Commissioner Frank Aguilar Cook County Announces Cal... Cook County Announces Call for Transportation and Community Grant Program A... posted on January 23, 2023
  • NEWS
  • Author Patrick Girondi
    Prominent producer to write screen adaptation of story on the fight against Thalassemia
    February 8, 2023
  • Wreaths Across America Radio logo
    Wreaths Across America Radio Announces New Strategic Partnerships with Veteran Radio Programs
    February 6, 2023
  • Orland Township Assessor Rich Kelly
    Taxpayers have an extra month to pay First Installment of Tax Bills
    February 6, 2023
  • Typewriter. Photo by Andrew Seaman courtesy of unsplash
    District 230 students receive journalism awards
    February 3, 2023
  • Cook County Sherif Tom Dart
    Sheriff and District 230 honor students for public service hours
    February 3, 2023
  • Author Patrick Girondi
    Chicagoan who invested in research to save children releases new book
    February 3, 2023
  • The-Kings-Pawn-Book-300-x-300.png

The Political Pundit

Political Pundit Aug. 24, 2021. Taliban thanks president for boxes of MAGA hats
  • WORD PRESS REVIEWS
  • MyCloud by Western Digital, a hard drive that doesn't last. Don't purchase Western Digital.
    Western Digital tubes its loyal customers for profit
    October 17, 2021
  • Macho Themes website front page. Don't buy their themes. They don't work
    Difficulties with Macho Themes for WordPress
    August 21, 2021
  • TECHNOLOGY REVIEWS
  • Wreaths Across America Radio logo
    Wreaths Across America Radio Announces New Strategic Partnerships with Veteran Radio Programs
    February 6, 2023
  • Dr. Helen Edwards Fermilab particle physicist
    Foster, Durbin, Duckworth introduce resolution to name Fermilab Research Center after renowned physicist Dr. Helen Edwards
    February 3, 2023
  • Telephone
     Sheriff Dart Warns Public of Phone Scam 
    February 3, 2023

Follow Ray Hanania at
Gab.com, MeWe.com
IDobbinate.com,
Twitter, Facebook

Creative Commons License
All works on this website is licensed under a Creative Commons Attribution 4.0 International License. Do not edit original work. Give credit to the original source.

What We’re Reading

Arab News Newspaper Leading English Language Publication in the GulfArab News Newspaper

Ray Hanania on Politics
SW News Newspaper Group

  • SPORTS
  • Chicago Wolves 2022-2023 season
    Chicago Wolves top Stars for second win in a row
    October 25, 2022
  • Stagg Marching Band Pit Crew as efficient as a NASCAR pit stop! The team that does a lot of the work to help the Stagg High school band perform works behind the scenes like a NASCAR pit stop. The students are profiled in this feature
    Stagg Marching Band Pit Crew as efficient as a NASCAR pit stop!
    August 31, 2022
  • Soccer. Photo by Md Mahdi on Unsplash
    International soccer returns to SeatGeek Stadium
    August 7, 2022
  • Stefan Noesen, Chicago Wolves
    Chicago Wolves Noesen wins President’s Award
    July 22, 2022
  • NEWS RELEASES
  • Author Patrick Girondi
    Prominent producer to write screen adaptation of story on the fight against Thalassemia
    February 8, 2023
  • Cook County Sherif Tom Dart
    Sheriff and District 230 honor students for public service hours
    February 3, 2023
  • Author Patrick Girondi
    Chicagoan who invested in research to save children releases new book
    February 3, 2023
  • Dr. Helen Edwards Fermilab particle physicist
    Foster, Durbin, Duckworth introduce resolution to name Fermilab Research Center after renowned physicist Dr. Helen Edwards
    February 3, 2023
  • Zwar Restaurant chicken and beef-lamb Shawarma Plate
    How to have a great Middle Eastern meal in Orland Park area
    January 31, 2023
John Kass Columns

Order the book PoweR PR; Ethnic Activists Guide to Strategic Communications

  • BUSINESS NEWS
  • Cook County Commissioner Frank Aguilar
    Cook County Announces Call for Transportation and Community Grant Program Applications
    January 23, 2023
  • money $20 dollar bill, dollars, cash
    Buckner unveils plan to help businesses and strengthen job
    January 19, 2023
  • United Airlines Flight at O'Hare Airport
    United offers endless airline travel problems for travelers
    December 25, 2022
  • Sam Bankman-Fried in an interview during the Bitcoin 2021 conference. Photo courtesy of Wikipedia
    Demands continue for Lightfoot and Garcia to detail ties to FTX scandal
    December 15, 2022

YOUTUBE VIDEOS

Click this link to watch or use the widget below:

Click here to view the video on YouTube or use the widget below.
Email Ray Hanania for more information about performing at your event at rghanania@gmail.com.

Copyright © 2022 Suburban Chicagoland & Urban Strategies Group

Powered by PressBook Premium theme