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Ditching Big Bad Banks: Are There Alternatives?

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Ditching the Big, Bad BanksBig 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.

Credits

Guests:
Joe Nocera - New York Times - @nytimes, Tim O'Brien - small business owner, Trish Wexler - Electronic Payments Coalition, John Cassidy - New Yorker magazine - @TNYJohnCassidy

Host:
Warren Olney

Producers:
Katie Cooper, Andrea Brody, Christian Bordal