Are Some American Banks Un-American?

Are some American banks un-American? Provocative question? To me, it’s a hard, cold statement that should provoke us to transfer our funds to banks that have not exhibited un-American behavior. Look in your wallets and purses.

Many of us have credit cards. Credit cards issued by American banks, or so it seems. Has your rate gone up since the Recession? Why? In a time of national crisis shouldn’t they go down or at least stay where they were?

I had the opportunity two weeks ago to speak to a Chase manager over the telephone. After typically being informed by a recording that the conversation would be monitored or recorded, I brought up the issue of them receiving “bail-out” funds and maybe it would be good business to help bail-out American consumers and business people by not raising rates and not cutting credit limits which would heighten the debt-ratio and thereby lower scores for many.

Her response was that the funds were returned. “Okay, but what about banks like Capital One? They have pretty much kept their credit card rates low across the board while pushing low-rate car loans, yes?” I asked. She agreed hesitantly, but immediately thereafter countered with a mindless statement “They’re a failing bank. Chase is a healthy bank, that’s why we were able to return the funds.” I wondered about Bank of America.

Whether Capital One is a failing bank or not, is that a relevant remark? I didn’t ask her, but I’m asking you, “If all the banks that returned the funds are healthy banks, (actually they returned the funds to escape further Recession-fighting government regulations) why are they raising rates, decreasing credit limits AND not making any loans to consumers and business people?”

I didn’t ask her this question because I could see the conversation becoming a verbal scrimmage, going on forever without any satisfaction for me other than knowing some American banks are in business to make profits, period. They’re willing to war with the Obama Administration and America because Profits-Only is the country where their allegiance lies.

What do you think?