Obama: Banks Don’t Have ‘Inherent Right’ to ‘Certain Amount of Profit’

Susan Jones CNSnews.com 10/4/2011

President Obama suggested on Monday that the nation’s banks should “take a little bit less of a profit” rather than raise fees on customers.

In an interview with ABC’s George Stephanopoulos, Obama was asked if the government can stop banks from imposing a new debit card fee on their customers.

“Well, […]

Basically, Obama Has Confirmed Everyone’s Worst Fears About Financial Regulation

Joe Weisenthal Business Insider 10/4/2011

This morning we touched on Obama’s comments with regard to Bank of America’s controversial, $5/month debit card fee. When asked about it by George Stephonopolous, Obama said that it was stuff like this called for the Consumer Financial Protection Bureau.

That immediately seemed wrong to us, as in, setting prices […]

Ready for A Debit Card Tax?

Mike Brownfield The Morning Bell Heritage.org 10/3/2011

Use a debit card? Now it’s really going to cost you. Bank of America announced last week that it will begin charging customers $5 per month for use of their debit cards. But if you’re looking for someone to blame, set your sights on Washington.

Bank of America […]

U.S. Federal Reserve Makes Record Profits in 2009

Voice of America News 12 January 2010

The U.S. central bank made a record profit in 2009 due to earnings it accrued through emergency measures aimed at saving the economy from crisis.

In a preliminary report released Tuesday, the U.S. Federal Reserve said it will turn over $46.1 billion to the federal government. That money […]