{"id":5334,"date":"2010-05-15T16:59:17","date_gmt":"2010-05-15T20:59:17","guid":{"rendered":"http:\/\/cfif.org\/v\/freedom_line_blog\/?p=5334"},"modified":"2010-05-15T16:59:17","modified_gmt":"2010-05-15T20:59:17","slug":"congress-wants-to-limit-your-access-to-cash","status":"publish","type":"post","link":"https:\/\/cfif.org\/v\/freedom_line_blog\/5334\/congress-wants-to-limit-your-access-to-cash\/","title":{"rendered":"Congress Wants to Limit Your Access to Cash"},"content":{"rendered":"<p>Of course, they\u2019re not framing it that way.\u00a0 Sen. Tom Harkin (D-IA) and other Democratic Senators have proposed an amendment to the financial reform package to cap customer ATM fees.\u00a0 But CNNMoney <a href=\"http:\/\/money.cnn.com\/2010\/05\/14\/news\/companies\/atm_fees\/index.htm?hpt=T2\">reports<\/a>, \u201csome <em>experts<\/em> suggest that capping fees might result in more harm than good for consumers.\u201d<\/p>\n<p>I realize the free market is too difficult for Senators to understand, but do we really need an \u201cexpert\u201d to explain what the consequence of this would be?\u00a0 ATM\u2019s are a convenience because we\u2019re too busy or lazy to walk inside our bank.\u00a0 I know my bank doesn\u2019t charge me to use their ATM\u2019s, but other banks will charge me for the convenience of using theirs.\u00a0 Banks provide more ATM\u2019s because they know that people will go to the closest ATM in a pinch, even if it\u2019s not their bank\u2019s machine.\u00a0 Customer gets convenience.\u00a0 Bank makes a few bucks.<\/p>\n<p>By capping these fees, banks will have far less incentive to provide extra ATM\u2019s.\u00a0 So the next time you are strapped for cash, there may not be a cashbox right around the corner.\u00a0 And guess what?\u00a0 Not only will competitor banks cut back their ATM\u2019s, but so will your own bank where, if you\u2019re like me, you can withdraw your cash for free.<\/p>\n<p>Stop trying to help, Congress.\u00a0 You\u2019ve done far too much already.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Of course, they\u2019re not framing it that way.\u00a0 Sen. Tom Harkin (D-IA) and other Democratic Senators have proposed an amendment to the financial reform package to cap customer ATM fees.\u00a0 But CNNMoney reports, \u201csome experts suggest that capping fees might result in more harm than good for consumers.\u201d I realize the free market is too [&hellip;]<\/p>\n","protected":false},"author":11,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[1278,1256,1141],"class_list":["post-5334","post","type-post","status-publish","format-standard","hentry","category-posts","tag-atms","tag-banks","tag-financial-reform"],"_links":{"self":[{"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/posts\/5334","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/comments?post=5334"}],"version-history":[{"count":3,"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/posts\/5334\/revisions"}],"predecessor-version":[{"id":5337,"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/posts\/5334\/revisions\/5337"}],"wp:attachment":[{"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/media?parent=5334"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/categories?post=5334"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cfif.org\/v\/freedom_line_blog\/wp-json\/wp\/v2\/tags?post=5334"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}