Commerce Bank: Profiting From the Working Poor

In April of 2007, Commerce Bank began levying a $15 service charge against all "free checking" costumers in New York and Connecticut whose balances drop below $100 at any time during their monthly banking cycle.

This fee stands in direct contrast to Commerce's promise of free checking and to their self-created image as "Your Neighborhood Bank."

Worse yet, the fee is aimed at the banks poorest customers, who are now forced to worry about maintaining a minimum balance in order to avoid penalty.

Representatives of Commerce state that this fee is entirely legal, as "all banking agreements are subject to change."

In essence, Commerce has voided its original contract with checking customers and replaced it with yet another scheme to make money from members of the working class precisely the customer base Commerce courts through their (now fraudulent) "Free Checking marketing campaigns.

No customer who signed an agreement with Commerce for free checking should have to adjust his or her finances in accordance with a dishonest and arbitrarily imposed fee.

We the undersigned believe that Commerce should stick to the deal they struck with their longtime customers and dispose of the "Cycle Service Charge" immediately.