Recently US government has launched some initiatives to limit financial institutions from doing high-risk investments and also fined some of those who are responsible for the financial crisis.
In response to the fines and regulations, some banks said they would increase the fees for most of the items which were free before the legislation. In other words, the banks pass the expenses to consumers.
Is there anyway to counter what the banks are doing?
I think yes, the US government can set up a bank that doesn't charge consumers all those fees imposed by commercial banks. In order to compete, the banks will have to reduce or abolish all the fees altogether.
I think this will work :)
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