Monday, December 2, 2013

Government Regulations Screw the Little Guy, Episode 4762

(See my previous installment in this series here).

So, I got an email from my bank about "Regulation D":
which places a limit of six withdrawals or outgoing transfers per month from savings or money market accounts via several transaction methods. Transactions counted against the limit include "preauthorized or automatic transfer, or telephonic (including data transmission) agreement, order or instruction, or by check, draft, debit card, or similar order made by the depositor and payable to third parties." Transactions not counted against the limit include "mail, messenger, automated teller machine, or in person or when such withdrawals are made by telephone (via check mailed to the depositor)."
Violating this limit results in a $15 fee (at my bank) and repeatedly doing so will force the account to be converted to checking or closed.

I'm posting this because it never ceases to amaze how deep the state reaches in its control and regulation of every aspect of our life. This is another example of the government screwing us over, and violating our basic rights of customers and businesses to make their own contracts. It is another example out of a billion that we've long abandoned the title "free country". We supposedly learned long ago to separate the church and state; it's about time we do this to banking (and everything else).


  1. Don't stand for it, Matthew. Ditch the bank account. While you're at it, refuse to accept or spend currency issued by a government you despise.

  2. Name-change suggestion for this blog: Constant Whining Journal. You're welcome.

    1. Perhaps you could change your name to something along the lines of Statist Troll, and you're welcome.

    2. You realize that "statist" is only considered an insult within your anarchist bong circle, right? So maybe Constant Whining and Pathetic Name-calling Journal would be even more appropriate.

    3. Maybe if directed at a fellow hardcore libertarian, but not otherwise. Have you any objection to what seems to be an obviously accurate description of your politics?

      If you have a problem with this website, no one is making you come back again and again.

    4. No objection to your childish name-calling, Matthew. But I find it funny that you throw around insults at comments while threatening to take action against whatever you consider "abusive commenting".

      And I don't have a problem with this website. It provides entertainment and sometimes a good belly laugh. I simply offered some suggestions for a better name. If you've got a problem with my comments, nobody is making you read them.

    5. LOL, you insist that it's name calling, but it's not- no more than describing me as libertarian is name calling.

    6. And no more than calling you a whiny, privileged, wannabe-anarchist is name calling.