Help for Those Abused by Banks

I have worked in banking for over 20 years and I have seen people get screwed over. I have never worked for BOA but they are all pretty much the same.

Over the years I saw a lot of the same thing. We bankers talked our own language and we made a bunch of RULES that you didn’t understand. Oh, we gave you a booklet or papers with the RULES so our asses were covered but we didn’t or couldn’t help you understand the RULES. And if you had a ChexSystems record, we had to kick you to the curb.

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I Hate Bank of America now on Twitter!

Follow me on twitter @ihateboa

• The US Open Series is Well On Its Way The Indianapolis Tennis Championships tipped off the six week long US Open Series by Olympus, which comprises ten different events on hard courts throughout North America that finally lead into the final Grand Slam tournament for the season. Along this road to New York there is plenty that is at......
• Bank of America could pay TARP back sooner than expected According to the Charlotte Insider, "Bank of America Corp. could pay back its $45 billion in government capital by late this year or early next year depending on the economy, chief executive Ken Lewis said in an interview today with the Observer." Lewis, CEO since 2001, also told the Observer......
• Azinger Rules Out Possibility of Returning as U.S. Ryder Cup Captain Paul Azinger who was responsible for leading the United States Ryder cup team into victory this year has announced that he does not plan on returning as captain for the U.S. Ryder cup team for the 2010 matches, which are to be held in Wales. His victory was a great......

BOA: Closes account and charges a fee to do so..

sisigman writes:

Hi,

I recently decided to avail of the $50 promo by BoA (in mission viejo, california), where if you open a new savings account (apply for an ATM card), theyll give you a $50. Sounded sweet. So I signed and all, and was required to deposit $125 before they could process my request (60 business days). 3 days after my application, I received a letter from BoA (Texas!) informing me that they decided to close my account because of risks their company found out about me. Then they provided a number I can call to ask questions — it’s their so-called “Risk Identification Division.”

So I called. They told me that the company does have the choice to close my account whenever they want. So I asked on what grounds they decided to close my account. They just told me the company found a risk. So I asked what that risk is. Then they said it’s something their department can’t disclose specifically. Worse, they even informed me I can NEVER in my life open a BoA account, anywhere in the US, as if I’m a bigtime criminal or something. WHAT THE FUCK?

Then they said they’ll just return my money. So, fine, I thought. At least I’ll have my money back.

So I waited. And here arrives a check worth $65 only… SHIT! I deposited $125 and they’re returning only $65? I called this Risk shit department again and asked how come. They told me the other $60 was sucked out of my deposit for that “Research Fee” for that mysterious research they did on me resulting in them closing my account — which I never had an idea of! Do they even have a right to charge me for something I wasn’t informed about? I didn’t ask to be researched on.

SCAM!!!

Aside from failing to open a BoA account, they snatched $60 from me, wherein I should be getting $50 from their promo. In conclusion, I got nothing good out of Bank of America.

Curses.

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• Bank of America Joins the Club of Shareholder Abusers This week Bank of America announced that it was cutting its dividend payment in half.  Mr. ToughMoneyLove is outraged by this action.  It represents an abuse of shareholders like me who invested in Bank of America as a reliable dividend-paying stock and who stayed with the company while other banks......
• Save $100 On A DELL Computer Through Bank of America If you have online banking with Bank of America, they will subsidize your Dell PC purchase to the tune of $100.Of course, here's the fine print, enlarged so you don't get fooled.To qualify for the $100 cash rebate, the customer must have one or more products with Bank of America,......

Bailed-Out Banks Face Probe Over Fee Hikes

Bank of America is up to it again.  They really appericate your help America. They are rewarding you with higher interest rates! Up to double for some. If it isn’t enough that they lost their our money with bad business and are using tax payers money to to bail themselfs out, now they are making you pay again. Read more at the Wall Street Journal.

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• Credit Card Companies Cutting Credit, Rewards; Upping Interest Rates. Wall Street gets a bailout, regular old Americans see their available credit decrease, their interest rate go up, and their rewards get smaller... Big lenders — like American Express, Bank of America, Citigroup and even the retailer Target — have begun tightening standards for applicants and are culling their portfolios......
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• The Financial Roller Coaster Continues For Lynch, Lehman, And AIG Crazy news this Monday morning! So here's the scorecard: Merrill Lynch will be bought by Bank of America. According to Bloomberg.com, BofA will buy Merrill for $29 a share a 70% premium on it's 9/12 price but considerably lower than it's 2007 high of $97.53.  What caused this buyout......
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I am working on a new version of this site.

Lets face it.. the old one sucked!