The Same Banking Geniuses that Destroyed Our Economy Get Paid and Paid and Paid

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From CNN: If you’re out of work like Steve Lippe, who was laid off from his job as a salesman in January, you know you already have problems. But looking at the fine print that came with his new unemployment debit card, he became livid.

“A $1.50 [fee] here, a $1.50 there,” he said. “Forty cents for a balance inquiry. Fifty cents to have your card denied. Thirty-five cents to have your account accessed by telephone.”

…The National Consumer Law Center says fees range from 40 cents to a high of $3 per transaction.”

And where are these fees going? Banks like JP Morgan Chase which has contracts with seven states and is negotiating with two others. But hey, you’re unemployed. If you don’t want to pay the fees, just wait ten days for a check.

BTW, in many states, child support payment debit cards nickel and dime you to death this way, too, lest we forget which segments of society must always benefit off the backs of the unfortunate. In both instances, you can opt for direct deposit, but it’s hard to know about the fees until your card arrives. Which I’m sure is accidental.

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DEMOCRACY DOES NOT EXIST...

without free and fair elections, a vigorous free press, and engaged citizens to reclaim power from those who abuse it.

In this election year unlike any other—against a backdrop of a pandemic, an economic crisis, racial reckoning, and so much daily bluster—Mother Jones' journalism is driven by one simple question: Will America move closer to, or further from, justice and equity in the years to come?

If you're able to, please join us in this mission with a donation today. Our reporting right now is focused on voting rights and election security, corruption, disinformation, racial and gender equity, and the climate crisis. We can’t do it without the support of readers like you, and we need to give it everything we've got between now and November. Thank you.

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