The people were heard. Bank of America has announce that they will follow Wells Fargo and Chase Bank and not charge their customers a $5.00 fee a month to use their debit card. After months of bad press and threats from customers that they would move their accounts to other banks, including smaller [...]
Browsing the archives for the Bank of America category
1 Nov 11
29 Oct 11
In a reversal of policy, Chase and Wells Fargo announced that they will not charge their customers for using their debit cards. The retail banking arm of JP Morgan Chase will stop charging customers a $3 a month fee for using debit cards. Chase which operates in 23 states along with Wells Fargo [...]
Posted in Bank of America, Chase, News, Wells Fargo
5 Feb 11
Bank of America has agreed to pay $410 million dollars to settle a federal lawsuit alleging the company charged excessive overdraft fees against it customers. The law suit was a combination of several lawsuits filed in 14 different states, all consolidated into one federal case in Florida. Other banks involved in the suit [...]
Posted in Bank of America, Citibank, News, Wells Fargo
5 Jan 11
According to the AP, Bank of America is going to run a pilot program in three states that will allow its customer menu of checking accounts with a variety of fee options. The testing will be done in Georgia, Massachusetts and Arizona. The test includes ways to avoid fees by linking multiple accounts, credit [...]
Posted in Bank of America, Information, News
17 Dec 10
The state of Arizona is alleging that Bank of America Corp. violated consumer fraud law by misleading consumers trying to get home loan modifications.
The bank also violated the terms of a 2009 consent agreement it signed requiring the bank’s Countrywide mortgage subsidiary to implement a loan modification program, According to the Attorney General office.
Hundreds [...]
Posted in Bank of America, News
3 Oct 10
Bank of America is delaying foreclosures in 23 states as it examines whether it rushed the foreclosure process for thousands of homeowners without reading the documents. The move adds the nation’s largest bank to a growing list of mortgage companies whose employees signed documents in foreclosure cases without verifying the information in them.
Bank of [...]
Posted in Bank of America, Information, Lending, News
10 Feb 10
While big banks like Bank of America, Wells Fargo, Citibank and others continue to attract more deposit in the fourth quarter, many American are suddenly moving their money to smaller banks out of principal.
General public anger over taxpayer bailouts and big bonuses is one reason. The other is that according to recent survey, the [...]
Posted in Bank of America, Citibank, Information, News
9 Feb 10
According to a New York Times article, the least trustworthy banks are, in the order of first to last:
Bank of America, Chase, Capital One, TD/Commerce, Fifth Third, Citibank, and in last place, HSBC.
The survey ranked 50 financial institutions in the United States by the percentage of each firm’s customers who agree with the statement: “My [...]
Posted in Bank of America, Citibank, News
4 Jan 10
The new CEO of Bank of America, Brian Moynihan began his first day on the job today. In his speech to shareholders, he announced that Bank of America was continuing to recover from the financial crisis but will remain cautious even as it expects to grow in 2010.
Moynihan takes over at time when the [...]
Posted in Bank of America, News
