FROM Tim O'Brien
Ditching Big Bad Banks: Are There Alternatives? Big banks bailed out because they were "too big to fail" are now jacking up fees on small businesses and individual consumers. Bank of America plans to impose a $5 monthly fee on depositors who use debit cards. Citibank says it’ll raise fees on accounts with less than $15,000. New York Times columnist Joe Nocera says there are many "juicy angles" to be pursued. He's going with " gouging ." Is it time to transfer money to smaller institutions and credit unions? Is the entire banking system due for an overhaul? We hear from Nocera and others.
Big Banks: Are There Alternatives? Bank of America plans to impose a $5 monthly fee on depositors who use debit cards and Citibank says it'll raise fees on accounts with less than $15,000, igniting the latest firestorm over personal and small-business finance. Now that new rules require disclosure of what previously was hidden, more and more customers are looking for some place else to put their money. Quarterly reports are expected to show that big banks are feeling some pain in their profit margins. Are small depositors paying for their bad investments? Will the new Consumer Financial Protection Bureau be able to curb abuses?
Trump plays scolder-in-chief with NATO allies At the opening of NATO’s dramatic new headquarters in Brussels today, President Trump acknowledged that Article 5 — promising that “an attack on one nation is an attack on all” -- has only been invoked one time: in the aftermath of September 11. But the President failed to provide what 27 other Alliance members have been waiting for: a re-commitment by America’s new leader to Article 5. Instead, they got a scolding.
Concern deepens amid Trump's controversies President Trump delivered today's commencement speech to the Coast Guard Academy in Connecticut. As he praised the accomplishments of the graduates, he listed some of his own… and made reference to reports that he leaked intelligence to the Russians and tried to shut down an FBI Investigation into his associates.