'"It's unfair for people to pay that much to access their own cash," Mr. Harkin said.'
There is much wrong with that statement. It would be unfair if, say, there was one bank with a monopoly on the market. But, luckily we participate in a market economy where banks are free to compete with each other. As such, there are banks that will offer to pay your ATM fees for you. I've been taking advantage of this, and enjoy seeing a $5-$10 deposit go back into my account at the end of each month. It's all automatic, it's all online, and it's all thanks to Schwab Checking. I can use any ATM in the US and have the fee reimbursed.
Another point - who is to say what constitutes a "fair" price to use an ATM? Did you accuse Apple of charging "unfair" prices before you bought your new iPhone?
Lastly, banks provide ATMs to consumers so that they may access their cash without having to visit a branch. This is called a convenience. Normally, consumers pay a premium to use services that are convenient. But, Mr. Harkin thinks it's unfair.
Now, if you want to talk about unfair, why don't we discuss how senators spend the salaries, benefit monies, and travel stipends supplied by taxpayers? I wonder if Mr. Harkin would characterize those activities, too, as unfair.
MK
