The practice of the banks deducting money from people's savings accounts is one which affects customers of all ages, but when evaluated for its effect upon the unsuspecting is found to be having devastating effect upon the elderly in particular.

The letter in The Gleaner of May 8, titled 'End of affair with J'can bank', Colette Garrick's experience with one of our banks was lucidly expressed. Sadly, her experience is not isolated; instead it is replicated many thousands of times throughout the system.

This practice of taking money from people's accounts has shattered the confidence of those who were brought up to believe that the bank was a safe place to save money. It is my contention that many people had relationship with the banks prior to the introduction of this policy of theirs. The banks are the sole beneficiaries of their inadequate effort to notify affected parties of this policy.

Arbitrarily imposed fees

I find it unacceptable that the state should remain silent and impotent on this important matter that affects thousands of people. Many of the victims of this policy are senior citizens who struggled to accumulate their savings only to have it being spirited away. I think the state has a duty to intervene to protect savers from arbitrarily imposed fees which effectively create negative interest for holders of many saving accounts.

It is ironic that in a society where the complaint is that of high interest charges to those who borrow, one sector of those whose money is used to contribute to the pool of available funds should be rewarded with depletion of their capital via unilateral arbitrary imposed service charges. If the banks think their actions can stand up to public scrutiny let them come forward and publicly debate it.

I am, etc.,

LUCIUS C. WHITE

Kingston