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Old 04-07-2009, 10:09 AM
 
Location: State of Being
35,886 posts, read 62,193,868 times
Reputation: 22160

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Quote:
Originally Posted by Metallisteve View Post
Anyone who defends this worthless pile of pond scum feces is ignorant. BofA is the epitome of corporate greed. Their fees are outrageous and their customer service is non-existent. My wife and I left them after several years of faithful patronage. I accidentally scheduled the $300 power bill to be paid from my measly personal "play fund" (separate from our joint checking, but still showed up as the DEFAULT account to schedule bills from...how convenient) which had a balance of maybe $30. Needless to say, it bounced, then they decided to delay all of my other smaller lunch charges from that week until after the power bill hit and made me negative...so there I was with one, two, three, four, five, SIX overdraft fees...multiply that by $35 each...yeah, you see my problem. When I called and exaplined everything to them (mind you, this was in the peak of public interest in banks getting into trouble last fall, so you'd think they would have been rolling out the red carpet to keep customers), the fact that there was more than enough to pay this bill from my joint checking and more than enough to cover the smaller charges on my account had it not gone negative and that it was a simple stupid mistake of not clicking on the correct account to auto-pay (which they push on customers relentlessly) my bill from, the response was "well you will hopefully learn from this mistake." They removed only two of the six charges...even after my question of "exactly how do I close all of my accounts at BofA?" Their reply: "oh it's easy...just go to a local branch and tell them you want to cancel."

So yeah...I feel ya Ani. And to those who defend this crap hole of a bank, think again about that before they bite you harder than you'd ever imagine. Kick them to the road before they get the drop on you...it's that old addage: it's not a matter of "if," it's "when."
Thank you, Steve. Nice to know others are disgusted, too.

Well, my thing is . . . ordinarily, I would never say a word to anyone about a personal banking situation such as this w/ credit cards being jacked up w/ interest. But BofA is a LOCAL INSTITUTION and Ken Lewis lives here, as do other bank officials who helped create this hellatious situation that has occurred and affected people not just in the USA - but globally.

People have lost - and will continue to lose - their JOBS b/c of BofA's lack of social responsibility and all encompassing corporate greed (and PERSONAL GREED, as far as the C level banking employees are concerned).

So my anger is multiplied many times over b/c BofA has thrown their weight around in this CITY and in this STATE and the last thing anyone was concerned about was THE CONSUMER.

I feel very personally angry w/ Ken Lewis and his cronies.

May I add . . . when I took out that one card, it was not w/ BofA and it was a line of credit I used w/ my business and paid off never any longer than 60 days. I had no control over the fact that MBNA was gobbled up by BofA. Then, BofA changed the terms of that card. It incenses me that we are at the mercy of BofA and they have had the power to throw around to influence legislators to allow them to have a free rein in jerking consumers around.

Yeah, BofA is saying they are paying back some of the TARP funds. Well, guess how they are getting that money? Raising fees and gouging the taxpayers whose money they were given to bail them out. THIS IS OUTRAGEOUS.

I read an article two years ago or so that clearly outlined that the biggest profit making sector in banking are the fees they get from ATMs and credit cards.
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Old 04-07-2009, 10:22 AM
 
Location: State of Being
35,886 posts, read 62,193,868 times
Reputation: 22160
I have never missed payments on my credit cards, so I thought I didn't have to worry about getting stuck w/ punitive credit card rates. But no . . . being a reliable customer was not enough to protect me from corporate greed. Yes, it has been noticed on Capitol Hill.

But Dodd, Senate banking Chair, and his buds are too late:

Feb. 12 (Bloomberg) -- U.S. Senate Banking Committee Chairman Christopher Dodd proposed new limits on fees and charges for consumer credit cards, saying an era of lax regulation had lead to “gouging” of U.S. consumers.

Dodd Says Credit Card Companies Are Gouging Customers (Update2) - Bloomberg.com

More here:

At a Senate Banking Committee hearing last week, Sen. Christopher J. Dodd (D-Conn.), the committee chairman, said lenders are "gouging" customers to boost their bottom lines.

"The list of questionable actions credit card companies are engaged in is lengthy and disturbing," he said.

Don't miss a credit card payment, or the APR could soar - Los Angeles Times
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Old 04-07-2009, 10:32 AM
 
Location: Findlay, OH
650 posts, read 1,982,897 times
Reputation: 323
Quote:
Originally Posted by anifani821 View Post
Well, the facts are: between our crappy Congressional "leaders" and the state legislature, statutes protect the interests of the BANKS not WE, THE PEOPLE. Legislators here in NC have let us all be sitting ducks to protect the BANKS, not the people who use the banks. It SUCKS and I am disgusted. I was disgusted w/ the way all our lawmakers have bent to allow banks way too much leeway. After all, if stricter controls would have been in place and oversight been more stringent, we would not even BE in this situation w/ the whole BAIL OUT DEBACLE.
I will agree. There has been a lot of false risk assumption in our society. This will be at our (the citizen's) expense.

Quote:
Originally Posted by anifani821 View Post
So, add the North Carolina General Assembly to my list of do-nothing nincompoops who have helped put us all in a situation to get screwed.
Haha! Ani's ____list of "do-nothing nincompoops". I might be able to find some tar and chicken feathers or possibly a rail. I've always heard stories, but yet to see that happen in real time. It'd keep the politicians on the straight and narrow.

Quote:
Originally Posted by anifani821 View Post
Let's not forget: most of us have lost a big chunk of household wealth due to this economic collapse. My recourse to pay off a hospital bill would have been to borrow off a 401 K in years past. The value of my 401Ks has been slammed, too.
Yes, and to think the decade prior, people told me they borrowed off of their 401k to buy their new Dodge Ram. It has come quite apparent that there will be very little in the way of retirement for the likes of me. I will die with my working boots on. I've made peace with that reality. Honestly, I've little in the way of alternatives (save dying at 65).
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Old 04-07-2009, 10:37 AM
 
Location: Lakeland, Florida
6,336 posts, read 11,042,648 times
Reputation: 6957
I hate them also, and its time for Americans to say enough is enough. The gov't is using our tax money to pour into the accounts of these banks and financial institutions. After they are given all of these stimulus funds they screw the customer as stated by people on here. In other words we are not customers, we have become nothing more than slaves. I personally would love to see BofA go under and today would not be soon enough.
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Old 04-07-2009, 11:02 AM
 
Location: Huntersville
1,852 posts, read 4,416,801 times
Reputation: 519
You have a choice not to use Banks, Credit Cards, etc. The power of the people is in it's choice.

As far as the "bailout" and wanting the Banks to Fail. Obviously you are angry but thats not realistic. It's been said all over about this so I won't repeat.

I am not defending the increases per se, but sort of rationalizing them in my previous post. Blame your fellows who weren't able to follow the rules, they ruined it for lots of others. They are ALSO culpable.

Last edited by Whytewulf; 04-07-2009 at 11:15 AM..
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Old 04-07-2009, 11:08 AM
 
Location: Union County, North Carolina
4,282 posts, read 5,791,210 times
Reputation: 3436
Paraphrasing Joseph Welch's comment to Senator Joe McCarthy, "Have you no shame?.. have you no decency?" seems to fit the attitudes displayed by the major banks towards their customers these days. These banks with their Tarp money (our money) gouge their customers to the nth degree with ever-increasing fees and penalties. When I got my first credit card, the late fee was 50 cents. Every transaction today, seems to be designed to extract as much money out of their beleaguered customers as possible. Many banks have expressed interest in paying back the Tarp money as soon as possible, so they can go back to those big bonuses and salaries without any sort of penalty. They can also go back to those "great parties" in Las Vegas (re: Mid-Level Managers gone Wild!!!) just as soon as they can get their hands into your wallet for more. Who needs the movie "Wall Street" with Michael Douglas proclaiming "Greed is Good" when it is the "unwritten motto" of Charlotte's big (and some not so big) banks.

Couple that, with the health systems disdain for the struggling middle-class patient... you're too rich for "free health care" but too poor (insurance-wise)for adequate care and you have the makings for a perfect "financial storm" in which the middle-class gets "drowned". You don't have the money... "Just Die!" seems to be their current mantra.

Maybe we all ought to take a cue from that old movie "Network", open our windows and shout "I'm mad as hell, and I'm not going to take it anymore"!

Perhaps, with all the recent mass shootings, we could direct some of those people to Congress to practice their aim! It seems like the last good idea came from those "hallowed halls" about 1781. Some "head shots" to Senator Tweedle Dee and Congressman Tweedle Dum might spur them into action, although I'm not holding my breath!
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Old 04-07-2009, 11:25 AM
 
Location: State of Being
35,886 posts, read 62,193,868 times
Reputation: 22160
Quote:
Originally Posted by Whytewulf View Post
You have a choice not to use Banks, Credit Cards, etc. The power of the people is in it's choice.

As far as the "bailout" and wanting the Banks to Fail. Obviously you are angry but thats not realistic. It's been said all over about this so I won't repeat.

I am not defending the increases per se, but sort of rationalizing them in my previous post. Blame your fellows who weren't able to follow the rules, they ruined it for lots of others. They are ALSO culpable.
WULF - I agree about responsibility and choice. I have never defaulted on anything in my life. And I have never used credit unwisely. I didn't use my house as an ATM nor did I borrow off my 401K's to buy a boat, car, take a vacation, etc. And the only reason I have used credit cards was as a line of credit in business - and then as an alternative to my son having to take out Student Loans. In the past, I have also used low rate credit cards for medical expenses, such as to pay for dental work and hearing aids. Stretching payments out seemed reasonable to me. I was putting discretionary income into 401Ks to prepare for retirement. Well, that proved to be a big bust, too. I guess I should have been socking away cash in a safety deposit box rather than putting everything I could spare into 401Ks, as now that money is just GONE. It is like I never even contributed it, LOL. Pretty ironic.

Now, I have medical bills to pay and using a low rate credit card would be a much welcomed alternative to draining my savings or cashing in a 401K.

I followed the rules and played fair. The banks are not following the rules and playing fair. The were totally consumed w/ PROFIT and that is why we are all in this mess today. Nothing wrong w/ PROFIT . . . but making profit based on HIGH RISK INVESTMENTS - wh/ is what those securities were - is not responsible - not to the stakeholders (who have lost their money b/c stocks are down), not to bank customers, and not to the public at large, cause the public's tax money has gone to bail out the banks.
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Old 04-07-2009, 11:32 AM
 
Location: Huntersville
1,852 posts, read 4,416,801 times
Reputation: 519
Ani... Not blaming you in the slightest. I again am using my car accident example... We are now paying for others mistakes by higher rates.

The Banks, nearlly all of them, did some money grabbing with bad choices, and now because of those choices, the gov't's inability and the american public greed, we are all paying for it. Non equity based credit rates have gone through the roof. Where as equity based credit is a great deal. Can I recommend you try a home equity line? I see those rates at 3.5% right now. Many banks are offering these, so you can choose a local bank for this, especially since you won't need the ATM per se.
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Old 04-07-2009, 11:36 AM
 
Location: Findlay, OH
650 posts, read 1,982,897 times
Reputation: 323
Quote:
Originally Posted by Whytewulf View Post
Obviously you are angry but thats not realistic.
Oh Wulf, never tell a redhead her anger's unrealistic, unless you're good at dodging flying objects.

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Old 04-07-2009, 11:41 AM
 
Location: State of Being
35,886 posts, read 62,193,868 times
Reputation: 22160
Quote:
Originally Posted by Art1979 View Post

Haha! Ani's ____list of "do-nothing nincompoops". I might be able to find some tar and chicken feathers or possibly a rail. I've always heard stories, but yet to see that happen in real time. It'd keep the politicians on the straight and narrow.

Yes, and to think the decade prior, people told me they borrowed off of their 401k to buy their new Dodge Ram. It has come quite apparent that there will be very little in the way of retirement for the likes of me. I will die with my working boots on. I've made peace with that reality. Honestly, I've little in the way of alternatives (save dying at 65).
I can find a rail. You get the tar and feathers!!!

It doesn't help to look back and think "I wish I had done xx" but truly . . . I wish I had never scraped and socked every penny possible into 401Ks. If I had not done that, and put the money into savings instead, at least I would have something to show for it.

Like you, we are looking at retirement and thinking . . . Damn. We did everything we were told to do - we were conservative. We even "bought down" with this house, keeping our debt down. We put four kids through college and now finishing up with # 5. We have been responsible people.

When you charge to a credit card, you are basing that on a contract you have w/ the credit card company. I kept up my end of the deal. I never was late; never defaulted. They changed the rules. Oh yeah - fine print. Believe me, I noticed that my terms had changed over the years. I got the notice saying that essentially, the lender has the right at any time to change ANY of the terms of the agreement. But I thought that could only happen if I DID SOMETHING to incur those changes (late payments, for example).

I notice banks are often incorporated as "XX Bank & Trust." That implies a fiduciary responsibility to me. Perhaps hometown, small banks have upheld their end of such a mutual responsibility. But BofA, along w/ the rest of these miscreants, HAS NOT.
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