Economics on the small scale

Saturday, April 01, 2006

banks and mortgages, separation of powers

My bank keeps trying to get me to take out a (second ?) mortgage through them, or sign up for one of their credit cards. Conversely, my mortgage company wants me to sign up for one of their checking acounts.

They're wasting their time (and money). I would never open a credit account with the same bank as I have a debit account because I would never want to hand them the ability to "settle" a dispute in their favor by raiding my checking account.

Such a raid would be completely aboveboard. If you read the fine print of your checking account rules and regulations, you might find that they reserve for themselves that right.

That's fine, I just reserve the right to give them only half of my banking business.


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