How banks rip off their poorest customers

Another great example of how you’re nickled and dimed to death by the banks:

That’s right, an account with fewer features than a normal checking account (without the checks, for example) – and with a core “feature” that is free on every other account – will cost customers $60 a year. That’s not a lot, of course, but consider that the product is designed for low-income customers, who are typically on the knife’s edge with their finances. According to statistics from the U.S. Bankruptcy Court, the average individual in bankruptcy in 2012 was just $26 a month short on their expenses. So even small amounts count, especially when you’re paying for what should be free services. In essence, customers will give Bank of America $5 a month for the right to not be charged more.