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Thread: Did anyone suppose that we would not notice?

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    pjohns's Avatar Senior Member
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    Did anyone suppose that we would not notice?

    For many years, banks (and other banking-type institutions) gave APR (annual percentage rate) on savings.

    They also charged APR on their loans.

    Even today, they charge APR on their loans.

    Yet they give only APY (annual percentage yield) on savings.

    In short, the first is compounded; the second is not.

    Did they really imagine that no one would notice?

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    donttread's Avatar Senior Member
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    Quote Originally Posted by pjohns View Post
    For many years, banks (and other banking-type institutions) gave APR (annual percentage rate) on savings.

    They also charged APR on their loans.

    Even today, they charge APR on their loans.

    Yet they give only APY (annual percentage yield) on savings.

    In short, the first is compounded; the second is not.

    Did they really imagine that no one would notice?
    I'm sure they bought a rule change made by unelected appointees

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    Common's Avatar Senior Member
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    Consumers have been screwed since the savings and loan fiasco. Big banks wanted savings and loans GONE and they succeeded.

    Ever since ive had to buy my own toasters
    LETS GO BRANDON
    F Joe Biden

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    pjohns (06-01-2018)

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    donttread's Avatar Senior Member
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    Jefferson hated banks. He was not wrong.

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    pjohns (06-01-2018)

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    Quote Originally Posted by Common View Post
    Consumers have been screwed since the savings and loan fiasco. Big banks wanted savings and loans GONE and they succeeded.

    Ever since ive had to buy my own toasters
    Banks may no longer have to compete with S&Ls. But they do have to compete with other banks.

    And also, with credit unions (where I have my own savings).

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    donttread's Avatar Senior Member
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    Quote Originally Posted by Common View Post
    Consumers have been screwed since the savings and loan fiasco. Big banks wanted savings and loans GONE and they succeeded.



    Ever since ive had to buy my own toasters
    And calendars

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