Wednesday, March 07, 2007
What kind of a greedy crowd have customers become, wanting banks to get rid of the ATM fees, and be like Britian. Scotiabank posted a first-quarter profit of only $1.02 billion, up from mere $852 million a year ago. Record profits, that sounds familiar, oh yeah, it's been news annually at least for the last 10 years. So no wonder president and CEO Rick Waugh (above) doesn't want to ban the fees. Let's hope that there is a total cashless society soon so that they can make more record profits, and silly people like the NDP's Jack Layton won't be pressuring Finance Minister Jim Flaherty anymore to encourage the Canadian Banking Association to abolish ATM fees.