Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Bank of America's CEO defended his bank's new $5 fee on debit cards on Wednesday, saying that customers and shareholders understand the bank has a "right to make a profit."
Quote:
But he said the new charge was necessary because the "ability to be profitable" in retail banking has changed. He added that Wall Street reforms in the so-called Dodd-Frank Act will cost his bank "billions."
True, you do have right to make a profit, as do your customers the right to take their business elsewhere. I really hope people do leave en mass and send a message!
True, you do have right to make a profit, as do your customers the right to take their business elsewhere. I really hope people do leave en mass and send a message!
To where? Every bank and credit union will be charging outrageous fees sooner than later because every other bank is.
Might as well buy yourself a safe and store your cash in that.
Of course they, and all of us have a right to a profit. That said, wish I could ask their CEO and board of directors if many or most of the stories going around about their alleged ABUSES of folks trying to settle mortgage problems with them, are true.
Every bank and credit union will be charging outrageous fees sooner than later because every other bank is.
You were being charged outrageous fees before, you just never saw it because it was hidden in the cost of the product. That's why the banks hate this bill, they have to list the fees in B&W and people like you are suddenly angry.
I've been with a local credit union for almost 15 yrs and haven't one complaint. I am worried that should the banks lose huge amounts of business, their uber lobbies will kick into high gear and actually succeed in getting legislatures to lay the smack down on the CU's. I know they've tried in the past.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
