Skip to content

RBC Q2 earnings hit new record $2.5billion… and they raised their bank fees.. Enough already!

greedy bankerRBC-Bank You gotta love the BANKS.  Putting out forecasts of troubled economic times, too much personal debt, housing bubbles, etc.    They seem to think it’s all bad news….  well, not for them.   They keep posting record profits year after year after year…

Yet, somehow they justify increasing our bank fees....  Well, that was going too far!   Talk about flaunting and rubbing it in our face!   This was probably one of those rare times in history when the normally reserved, conservative, polite Canadians had just about enough!   A major public and political backlash has forced the RBC to retract those fees.

But why did it take so much to for RBC to do the obvious?   I mean, come on.  You jack up fees after you report RECORD EARNINGS?  Hello!?   This is like that commercial for Hotels.com.   Captain Obvious!

RBC HIRES TEMPORARY FOREIGN WORKERS

Remember when RBC hired Temporary Foreign Workers (TFW) to replace existing Canadian jobs?  Check this out… they had their Canadian employees train the TFW and then they fired the Canadian employees!   This was just 2 years ago!

NEWS FLASH!  The BANKS are concerned about shareholder profits.  End of story!   Their loyalty is to the shareholder, not you or I.   And once you understand this, your expectations and outlook will be much different.  You will begin to question things more….. that’s a good thing.   Questions are good… there are only bad answers..  or here’s another saying…  The only bad question is the one you didn’t ask!

Your best interest is my only interest.   I reply to all questions and I welcome your comments.  Like this article?  Share with a friend.

Steve Garganis 416 224 0114 steve@mortgagenow.ca

Steve Garganis View All

As an industry insider, Steve will share info that the BANKS don't want you to know. Steve has appeared on TV's Global Morning News, CBC's "Our Toronto" and The Real Life TV show. He's also been quoted in several newspapers such as the Globe and Mail, The Toronto Star, The Vancouver Sun, The Star Phoenix, etc.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: