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It's quite possible to run a business without accepting checks. Speaking from personal experience.
Who said anything about *accepting* checks? Besides, what's "possible" and what happens in the real world can be vastly different - just ask anyone that's tried to create a paperless office.
Regardless, there are quite a lot of checks being written every day. Checks are still very widely used, particularly for b2b transactions.
That reform bill has about 25 new regulations on banks that they must comply with.
ALL banks, not just the bailout banks. You think implementing them is FREE ? You think it won't cost the banks money to implement some of these regulations and maybe have to hire people to make sure they comply with the new anti-discrimination quotas ?
Yeah..great sweeping changes..biggest since the Great Depression ?
Asking if you want to be charged $35 on an overdraft before you take out that money is sweeping ?
And nothing done about Glass-Steagall, shadow banking or reigning in the derivative mess didn't concern American taxpayers ??
Geeze..it sure doesn't take much to please some people.
First of all, don't delude yourself into thinking that your checking account was ever "free"; the costs are always born somewhere within the marketplace of banking services.
Second of all, I'm all for "free checking", and I'm even open to different regulation than Obama's administration put in place, but what clearly wasn't working was the regulation that was currently in place - or we obviously wouldn't have had this subprime crap storm get so out of control to begin with. So the status quo is not acceptable.
If we could ensure that banks would not take grossly irresponsible actions that would nearly decimate the economy and require us to bail them out, I would gladly give up my "free checking" for that.
Credit Unions are definitely on my radar in making a transition. Everything offered by them appears to be consumer friendly in terms of offering the best rates.
I'd prefer the way BOA is doing it now as opposed to the "hidden fees" bit. Regulation of the banks is good thing IMO, employment rates, and inflation have generally been under better control with it in place.
Do you mean regulations like Glass-Steigall?
Sure would have been nice if a bankster's best friend Dodd would have included a provision to restore the regulatory powers that Glass-Steigall provided for some sixty years. Would have been nice if the Democrat Congress would have passed a regulatory reform bill that included that key provision so we wouldn't have to bail out the same "too big to fail" institutions all over again.
I'm confusing nothing. The question asked is how do you electronically pay for a service?, and my answer covered a method of doing so.
Nice try, tk.
How would you electronically pay my business, which does not do direct debits, without using a credit card?
Here, I'll answer it for you. You would either send me cash or a check, or wire the money. Those are the only options. Trust me - I know what forms of payment we accept.
I have lived long enough to know first hand that when the liberals are in charge my life becomes far more expensive and the poor still remain poor.
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