In typical governmental fashion, they publicize all the benefits of the caps on overdraft fees and other negative hidden charges and actions of the banking sector and then sneak in a clause that will hurt not only Credit Unions but us consumers too - A fee for every use of your Debit Card !!! Are we all so hypnotized by the marketing and advertising hype of flaunting the "good" in a bill that we don't read the fine print ourselves to gain All the facts and Truths?
Bill Passed in Senate Broadly Expands Oversight of Wall St. May 20, 2010 http://www.nytimes.com/2010/05/21/business/21regulate.html "... The legislation is intended to prevent a repeat of the 2008 crisis, but also reshapes the role of numerous federal agencies and vastly empowers the Federal Reserve in an attempt to predict and contain future debacles. ..."
"NEW MEXICO (FFCU)—The clock is ticking to stop congress from infringing on your debit/credit card payment rights. This could mean the end of fee free usage of debit and credit cards. Can you imagine having to pay every time you use your debit/credit cards or merchants not accepting them at all? Very recently the U.S. Senate approved the Financial Regulatory Reform Bill. While the overall bill takes a balanced approach, there is one provision that should be removed because it is harmful to Credit Unions and may be of great concern to credit union members like you...." Act Now if you're concerned. This Credit Union website will allow you to contact NM Congressmen with your vote: https://www.ffnm.org/2010/5/7/protect-your-credit-union-s-card-program & http://www.washingtonpost.com/wp-dyn/content/article/2010/06/09/AR2010060905907.html
From a a 50 Something, soon to be rural homesteading, Prepper ;-}