Don't Bank of America go to court in November for overdraft charges to many of their account holders? What is the story on that?
What difference does it matter? No one is going to jail.
They will be slapped with a penalty, possibly be forced to payback certain monies, but when they only have to payback $200 million while reap $1 Billion or more....what difference does it really matter in the end.
They were able to leverage the money they weren't supposed to get into tens of billions of dollars by the time they get the slap on the wrist.
It's time to wake up people!
Yeah, it is long since time to wake up from the committee directives and legislative influence of over a decade of the financially critical and influential liberals Barney and Dodd.............jail?? Hmmm........ Call to Wake UP.....a High Five........
The Wall Street banksters are worse than the Mafia.
That is why they are raising there fees. I hope they lose a ton of buisness.
With BOA adding debit card fees (and other serious issues), the best thing account holders can do is close their accounts and go with a credit union or a smaller bank.
Thanks for all your answers,it is very fulfilling.
and so they will, Paul - I have no doubt!
Rather than charging the customers to recuperate losses resulting from bad decision and fraudulent actions, they should froze the accounts of their executives who created the mess in the first place
I think they are making a number of changes right now in regards to banking fees. For instance, I think not only are they charging monthly fees now on accounts with only a certain balance, but they are also going to start charging $5 for debit cards.
Another reason to switch to a Credit Union. Although you of course want to research the credit union first, I can not imagine using one of these sorts of banks by choice!
Rely I don;t think that they are that worried, no one is going to jail, the punishment, if any will be less than any rewards the achieved. That's why they continue to do it. In reality lots of people will rant and rave about it, but they won;y lose that many customers. Look at all the other sneaky BS they've pulled. If they did make mistakes that hurt their business then they always have Uncle Sam to bail them out.
B of A's reasoning for the increased fees is a result of Dodd Frank. Why do banks feel that they are entitled to a certain amount of profit? Guess what? YOUR NOT! You can't pass everything on to the customer,your multi- million dollar paydays are over. I feel bad for all of the laid off hourly workers there will be, but pull your money out of B of A and crash it. Let's teach the other greedy bankster's a lesson while were at it.
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