NEW BOOK EXPOSES BANKER'S 'LICENSE TO STEAL'
NEW BOOK EXPOSES BANKER'S 'LICENSE TO STEAL' MARENGO, Ill., Dec. 3 /PRNewswire/ -- Edward F. Mrkvicka Jr., author
of "The Bank Book: How to Revoke Your Bank's 'License to Steal' -- and Save Up to $100,000," accuses banks of making most of their profits by deceiving customers. Then he proves his point.
The book reveals that bank IRAs are a bad investment, safe deposit boxes are anything but safe, adjustable rate mortgages are to be avoided at all costs, bank savings accounts can pay much less interest than advertised, credit, life and disability loan insurance is "insurance fraud at its worst," credit cards are designed to exploit the less affluent, and how the bank overdrafts your account and makes you pay for it. These are just a few of the outrages Mrkvicka catalogs. More importantly, beyond exposing the abuses, he offers easy-to- understand alternatives that provide better, less expensive service. A report card for your bank is included, as is a listing of alternative lending options, as well as one for checking and savings. A directory provides names, addresses and phone numbers of agencies that offer relief if a dispute arises. Perhaps the most meaningful advice is given when he explains how to save money by negotiating loan rates and account fees. Particularly interesting is the explanation of how to buy a home and recover all your mortgage payments. The bank's way, after 30 years, you'll have your home free and clear. Following Mrkvicka's plan, you'll have your home free and clear and all the money you paid the bank in mortgage payments in your savings account -- and it doesn't cost a penny more than you were going to pay the bank anyway. This book, one your banker hopes you never read, has been named one of the "best books for wise and inquiring consumers" by the Library Journal. Daria Dolen of CNBC's "Smart Money" said, "If you're interested in finding out how to save money when you do your banking, pick up 'The Bank Book.' It truly is a wonderful book." -0- 12/3/91 /CONTACT: For review copy, HarperCollins, 212-207-7041; for interviews, Edward Mrkvicka 815-568-8267/ CO: HarperCollins ST: IN: FIN SU: PDT
CK -- NYFNS1 -- 8575 12/03/91 07:30 EST
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|Date:||Dec 3, 1991|
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