"You've Caught the NET!"

THE CHICAGO IL REAL ESTATE MARKET, AND OTHER THINGS CHICAGO, FROM THE POINT OF VIEW OF A LITTLE WHITE DOG!

Man . . . I'm lost!  You think perhaps I should ask for directions?

Naaah!  I'm a guy - too embarassing!

If you read the business papers every day as I do, you would think that defaulting home loans are the only way banks are feeling the pinch today.  Well, no, there is apparently another current revenue drain, and it has nothing at all to do with interest payments!

Apparently, as reported by Becky Yerak in last Tuesday's Chicago Tribune, the recessionary economy means humans are using their ATM Cards less.  They are writing fewer checks, so thereare less checking account fees, and bad-check overdraft fees.

To a bank, these fees are known as "non-interest income."  For most financial institutions, the fees mean big money!

Last week, Amcore Financial reported that non-interest income was off 7% from the Fourth Quarter, 2007, and 16% from the Third Quarter of last year.  Fifth Third Bank, with moderate market coverage across the Chicago Area, also saw a drop in service fees.  They blame a falloff in the number of ATM transactions and usage of debit cards.

Lender TCF Bank saw total service charges fall 3% in 2008 versus 2007. 

My conversations with my human colleagues find few shedding a tear over the falloff in service fees to banks.  Many are getting sensitive to the growing litany of reasons for the fees, and have adjusted their ATM and checking account behavior in an attempt to minimize them.

As for me, I'm usually a Cash-Paying kind of a dog.  Except when certain human females find me irresistibly cute - in which case . . . they pick up the tab!  And, with greater frequency recently, I seem to be leaving my lil' wallet in my other fur!

Enjoy the weekend, you dogs!

See my post via BlogChicagoHomes.com.

YOUR ACE REPORTER ON FOUR PAWS,

BUDDY HOLLY MOSS & DEAN'S TEAM CHICAGO