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Old 12-06-2011, 03:36 PM
 
Location: West Paris
10,263 posts, read 11,967,538 times
Reputation: 24465

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When Derrick Johnson visits the ATM in his Florida town to tap his jobless benefits, he regularly pays fees to the companies that administer the state's unemployment program. That sort of agreement has become commonplace in many states.

But when Johnson uses his card, the state of Florida also takes a piece of the action. Under the terms of the deal between benefit administrators Affiliated Computer Services and Wells Fargo bank, Florida collects a small share of the unemployment benefits paid out in that state. In the 11 months since Florida entered into the agreement, ACS charged unemployed people in Florida like Johnson nearly $1.12 million in fees, and shared about $12,000 with Florida.

The agreement between Florida and ACS marks what some consumer advocates say is the latest abusive practice financially battering the unemployed. Banks and other companies have turned the work of administering public benefits into a profit center in almost every state. Now states are negotiating for a share of the gains............................................. .......

Florida, California Take Cut Of Bank Fees On Unemployment Benefits
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Old 12-06-2011, 06:40 PM
 
14,508 posts, read 29,302,585 times
Reputation: 2562
This is nothing but an inflamatory article. If Derrick Johnson were a more sophisticated consumer of financial products, he could easily get free checking with direct deposit of his unemployment checks. Essentially, circumventing the State of Florida from profiting off him.
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