Word: mierzwinski
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Dates: during 1990-1999
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...Group (USPIRG) found that consumers paid 15% more to maintain a regular checking account at a big bank than at a small bank. Similar results were found by a Federal Reserve report to Congress last June. "Merger mania is making the fee-gouging big banks even bigger," complains Ed Mierzwinski, consumer program director for USPIRG. "Fewer and bigger banks mean consumers face fewer choices, less competition and even higher fees...
...scale, which costs consumers more." In other words, it costs to save. That's one reason why many consumers now "bank" at the growing number of check-cashing services, where they can pay bills, and at pawnshops. "Over 12 million families already can't afford to bank," says Mierzwinski. "Mergers just exacerbate that problem...