Bank of America Losses

[Marc]

Just this morning, I was looking at my bank statement, and thinking - hmm, it's weird how I don't seem to be in the red as much any more with my Bank of America account.

In the past, if I went a little under, I was dinked for overdraft charges, and all kinds of mystery fees, which sank my account even further into the red. MOST of the time this appeared to be highway robbery on the part of B of A, and I often railed against the bank for their unfair practices.

Well, what do you know - a short while ago, the New York Times reports Bank of America is reporting a 7.3 billion dollar loss in the past quarter... citing.... "On a non-cash basis for the quarter, the bank reported a loss of $7.3 billion because of a $10.4 billion write-down in the value of its credit card unit, attributed to federal regulations that limit debit fees and other charges"

B of A has been MILKING Americans out of Billions.

For this, I THANK Barak Obama for standing up for the little guy. (however can big banks survive without STEALING from the masses?)

Marc

 

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[bigscoop]

Not too long ago we put our money in the bank and bank paid us interest for our allowing them to use our money. This was the basic principle of banking. Since that time I've often wondered how it came about that banks were ever allowed to start charging us fees for putting money in their banks, or for not putting and keeping enough money in their banks? I can understand overdraft charges, but all the other fees?

 

[Felinepeachy]

First off, I would NEVER use B of A because they are the number one supporter of illegal aliens. THAT"S what a lot of your fees are for.

http://www.bankofamericaboycott.com/

It's hard to find a bank anymore that doesn't charge for everything. I mean come on, why do I have to pay .25 cents every time I use my atm? So now I only use my atm as a visa.

Almost makes me wanna use the cookie jar

 

[ivan salis]

the banks got bail outs worth billions in advance of having to be "fair" to people according to the new laws, the banks will make up any losses via charging higher rates for loans in the future --the fact that the govt is going to allow 15 % instead of the current 10% --corn alcohol to be mixed into gas wil cause most americans with pre 2002 cars to have get new cars --the "new" 15% fuel will destroy older cars engines thus you will be forced to buy a "newer" car -- a lot the real old clunklers that could have used the new "hotter" fuel have been wiped out via the "cash for clunkers" program

 

[bigscoop]

the banks got bail outs worth billions in advance of having to be "fair" to people according to the new laws, the banks will make up any losses via charging higher rates for loans in the future --the fact that the govt is going to allow 15 % instead of the current 10% --corn alcohol to be mixed into gas wil cause most americans with pre 2002 cars to have get new cars --the "new" 15% fuel will destroy older cars engines thus you will be forced to buy a "newer" car -- a lot the real old clunklers that could have used the new "hotter" fuel have been wiped out via the "cash for clunkers" program

There's always an angle or two from the Govt. think tanks.

 

[ivan salis]

big bussiness & govt beaucrats in bed together --for boths benefit * as president ike warned --the military / industrail complex will take over *

 

[dpitt8]

i wish American Express was accepted more places then i would so close my BofA CC i've had since college in a heartbeat.....and cause AmEx now has a higher limit....which from what my hubby was told is amazing since its the trend to lower credit limits not raise them in AmEx currently.