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Late night last week, I was 1/2 asleep while listening to some radio program & heard them briefly mention that Bank of America is running into some major financial distress. I've searched the 'net for that info & can find nothing anywhere. Since I was 1/2 asleep, I don't know what program I was listening to, but it was talk radio.
I swear I heard that it was B of A, as my ears perked up as my mom uses that bank exclusively. The discussion was on something else with this info thrown in as an example & then they were back on topic. Is anyone aware of B of A problems or found an article reporting this? I'm thinking that if I can't find anything online, perhaps that's a good sign.
Late night last week, I was 1/2 asleep while listening to some radio program & heard them briefly mention that Bank of America is running into some major financial distress. I've searched the 'net for that info & can find nothing anywhere. Since I was 1/2 asleep, I don't know what program I was listening to, but it was talk radio.
I swear I heard that it was B of A, as my ears perked up as my mom uses that bank exclusively. The discussion was on something else with this info thrown in as an example & then they were back on topic. Is anyone aware of B of A problems or found an article reporting this? I'm thinking that if I can't find anything online, perhaps that's a good sign.
Thank you... VV
I am not aware of any trouble with BAC. Northern Rock, a failed mortgage lender in England, has been mentioned in the press lately. It has been helped by the Bank of England.
I am not aware of any trouble with BAC. Northern Rock, a failed mortgage lender in England, has been mentioned in the press lately. It is associated with the Bank of England.
Thank you for your reply. I did hear of the trouble in the UK (lines of folks withdrawing funds), but didn't know it was associated with Bank of England. Pehaps that's what I heard, as I was 1/2 asleep & Bank of New England here merged or were bought out by B of A years ago. I'll keep my ears tuned, but will check out your link, too. See, this is what I get for falling asleep with the radio on... Thank you.
Bank of America has been pumping money into Countrywide -- one of the largest sub-prime mortgage companies being burnt in their own bubble.
That may be what you heard? Sample story here:
BofA throws Countrywide $2-billion lifeline - Los Angeles Times (http://www.latimes.com/business/la-fi-mortgage23aug23,0,3348077.story?coll=la-home-center - broken link)
BOA is one of the largest and most profitable financial institutions in the world... whatever you heard was not accurately predicting trouble at that bank.
KittensPurr, there was quite a brouhaha a few months back about Bank of America seeking the business of illegal aliens in the U.S. but I haven't heard anything about it lately. Also, if you listen to Clark Howard, the consumer advocate (heard on AM stations around the country), he went to bat for one of his listeners and basically got blown off by B of A. So now he advocates taking your business elsewhere. I, myself, have been a credit union member since 1975 and will NEVER darken the door of another bank as long as I can be a CU member. (We even got a great rate on our mortgage from our CU!)
Beautiful. Thank you cdelena for the info & Phillip for the link. That story was good to know.
I think I must have heard the Bank of England info, as that seems to fit the subject of the show bits I heard.
Crew, thank you for bringing up credit unions. I wasn't familiar, just checked it out a bit & it seems to be a great option. I believe on the board long ago there was info on belonging to 1 if not a particular company employee (& even online access, if I'm not mistaken). I'll search around a bit as it seems like a nice alternative.
Very helpful info, all. Thank you much... VV
P.S. Hmm, interesting. I just found howtojoinacu.org & MA isn't an available state alternative. Odd, yeah?
Hi KittensPurr! I looked at howtojoinacreditunion.org and saw that only 27 states plus the District of Columbia apparently allow credit unions. Guess every state has it's own banking laws... I wonder if that also includes Hanscom AFB, since most military installations of any size give those stationed there access to a credit union...hmmmm. Anyway, we belong to both a local credit union and one headquartered in VA (they have branches in other states but not ours) It may be possible to belong to a credit union in NH, VT or RI, but ATM fees and other hassles might lessen any advantage of belonging. We've got a retired USAF friend who lives in Boston, I'll ask her what she does. in the mean time, best of luck!
Anyway, we belong to both a local credit union and one headquartered in VA (they have branches in other states but not ours) It may be possible to belong to a credit union in NH, VT or RI, but ATM fees and other hassles might lessen any advantage of belonging. We've got a retired USAF friend who lives in Boston, I'll ask her what she does. in the mean time, best of luck!
Thank you Crew for the info. I'd love to know for my mom in MA. I will be moving out of state next year, so perhaps I'll now do research so I have a better base knowledge & wait to open an account until I'm settled. I appreciate your help, thank you!... VV
tell your mom thank you for her support of illegal immigrants as she continues to bank with BOA and oh wait who will she has to wait behind in emergency room from a non paying illegal immigrant oh wait she might get hit by a dwi driver oh wait he probably here illegally too so yeah tell her let amercian money be funneled to mexico thru BOA.
THANK YOU AND GOD BLESS ANTARTICA!
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