9:19 AM
Jalal HB
Full Story: AlertNet
When recently Bank of America announced a $5 per month fee on its debit cards, could anyone do anything about it? Certainly a big NO as anyone who objected, was told to find another bank - as simple as that. This means banking is not competitive anymore since in a competitive market, every bank liked to retain its customers no matter at what cost. But this new phenomenon is something that makes them to control - or to say specifically a few strong ones controlling the rest - a pure Oligopoly approach rather than Monopoly.
Confused? Read the full story for details ....
Posted in: Market
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