The key to what’s happening is to realize this is an economic event which goes far beyond the coronavirus.
All the pieces are coming together as individual storms to make the economic perfect storm.

Taxi Medallion Loans are a national $12.9 Billion crisis.

In 2012, taxi medallions were: 13,500 in New York City (NYC), 7,000 in Chicago and 1,500 in San Francisco (SF) for a total of 22,000 medallions (M). The total number of drivers for hire in these 3 cities today is 190,000 with only 22,000 M drivers, who are part of the total, thanks to Uber and Lyft. 
Your comments, positive or negative, are always welcomed.

Fees are not a 4 letter word to Credit Unions, yet where are the banks?
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If a consumer goes into a branch they want tellers and others to be efficient.
Many users avoid a bank or credit union because of some employees.
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Last week Jay Powell mentioned not one word about bank and credit union deposits. Are $13.2 Trillion in deposits not important to the Fed?

Deposit Rates keep falling, yet the Fed thinks rates are OK. What’s right?

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Over half those who overdraft go to payday lenders.
Why? Banks and credit unions restrict credit.
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Volatile Rates Ahead?
Basic supply and demand forces dictate volatile deposit rates well into 2020
Read why below.
Any questions: email, text or phone.

The overdraft price has gotten unreasonable.
About 1% of all depositories charge $40 or more.
A lower OD Price will provide more revenue.
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Until two years ago Free Checking was the most dominate financial service.
What happen to have financial institutions drop free checking?
Read about free checking’s demise below.
Your comments welcome.

Deposits now act like bonds. Deposit rates are changing like bond rates.
All deposit rates are falling and have for much of 2019.
Why can’t the Fed see this?
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