Several years ago, ten year old granddaughter Paige, in the spirit of American capitalism, opened a custodial savings account at her local Bank of America office with the $100 she saved. She hasn't touched it since.
Monday she received a letter from the home office stating her account had been closed and the bank wanted the $11.07 she owed. Her parents called to ask, huh?
Monthly account fees they were told, its our thanks for the Tarp funds. It shows up on your month statement.
Paige doesn't receive a statement, she went green years ago.
Tuff, pay up, or will sic the dogs on you, the voice on the phone intimated.
Today, Paige is going to school late so the local branch manager can tell a 10 year old why he stole her money. Mom stands ready to go "trailer trash" on them (dad's quote) if they don't give it back.
I'll let you know.
2 hours ago