Capitalist Bank (of the United States) by: Erin Pembroke7-15-2012To the audience: although, we live in a capitalist society, the poor should not be the one to suffer all the time nor should they be the one taking the blows from the wasteful wealthy class. After listening toand being subjected to an unjust policy, you are now being called upon to read and decide to correct a problem or suffer the consequences. I invite you to read my arguing statements with an open mind and Iimplore you to take action.I have recently come across a problem in capitalist America. My current bank (whom I wish tonot name) has decided to charge a $5.00 monthly service fee for online statements and a $7.00 monthlyservice fee for paper statements starting August 7, 2012. According to the bank “this fee can be waivedwith one of the following [by] maintain[ing] a $1,500 minimum daily balance or maintain[ing] qualifyingdirect deposits totaling $500 or more each statement cycle.” I do not have a personal financial problemwith the bank but I do have a moral problem with this action that they are willing to enforce upon itsclients.My problem is this: what happens if the client is not employed or is laid off from work? If theclient is in some sort of economic hardship then there seems to be no way out of these fees. I understandthe need to charge a $7.00 monthly service fee for paper statements because paper statements cost moneyto make and send. There is the price of postage, the price of making the paper or buying the paper and paying the employee who has to send the mail to the client. However, online statements are just that,online. It does not cost to send, or to put a stamp on it nor is there any paper involved. The only thinginvolved is the cost of paying the employee to send the e-mail which can easily be added to the daily or monthly duties of any employed banker.The bank does not consider that the client could be laid off and not receiving any income nor anyunemployment benefits. It does not consider those who have accounts but hardly use them due to lack of income nor does it consider students in college. It also does not consider that people are trying to savemoney if they have an account but are not employed.When a customer representative called me, I inquired about these service charge fees and askedhow can a person get out of them if they are not employed. The bank representative stated that the personwould have a direct deposit of $500 a month. That does not make any sense if they are not employed! Nor does maintaining an account of $1,500. We live in trying times where people are lucky to even havea job. Suppose if a person only has $800.00 in the bank account and are not employed? Then, of course,according to the representative, they would get charged a $5 or $7 dollar fee a month depending on whatkind of statement they have.That does not make any sense to me. So, this bank is willing to penalize the poor or those thatlack sufficient income just to make a quick buck wherever they can. Of course, those that have money donot care about it but just think about someone who only has $800 in their bank account and cannot get a job while every month this bank subtracts $5 or $7 dollars. Their bank account will look like $795 or $793 and so forth. Is this unfair? Surely. This is the most absurd policy I have ever heard. There needs to be a resolution to this problem. Perhaps, those with money and stable bank accounts can carry some of the load or perhaps the bank can waive these new service fees and find other ways to gain capital. If not,clients of this bank should boycott and take their money elsewhere.