Huge Bank fee's in 2010, are you prepared? (checking fees, interest rate increases, credit card fees) You name it!

The United States banking system should be overwhelming its new and existing customers with fees and high interest rates in 2010 to replace the 55 billion dollars in revenue they lost due to new rules and regulations. Many of these changes will directly effect your credit cards and checking account. Credit card companies collected a whopping 23 billion dollars in 2009 due to interest rate increases. So, don't be surprised if you see several new fees on your bank statement this year. The federal reserve estimates banks make 25 to 40 billion dollars a year from overdraft fees. Lately, banks have been promoting the use of debit cards, which is more profitable. There has even been talk of eliminating free checking. Indeed Corporation (a company in my region, Minnesota), is a bank which uses the slogan "totally free checking". Consequently, now Indeed Corporation is rethinking their stance on the matter and may begin charging monthly fees to their customers. My suggestion? Take your money out of the big banks and put it with the people who have your interest in mind, yourself!

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