I’m sure you’ve heard the news by now.
Bank of America has been ordered to pay $250 Million in fines for ‘double dipping’ and creating fake accounts.
From the beginning, BOA (and Wells Fargo) has never had my heart, so it always annoyed me that my wife not only remained loyal to them but also seemed to revel in their services…very weird. However, the irony struck when she broke this news to me, and boy, did this headline grab her attention!
BOA, the reigning champion of crappy banking, keeps finding ways to squeeze every cent out of people like us – hardworking individuals. These executives live in a self-centered money ‘echo chamber’ of a bubble caring only about themselves and their own interests.
BOA:
–> “double-dipped” on overdraft fees, charging customers $35 for each failed transaction due to insufficient funds.
–> Opened accounts for customers without their consent, violating their trust and jeopardizing their financial well-being.
–> Customers were hit with multiple fees, as BOA took advantage of their hard-earned money.
–> Withheld credit card rewards and misled customers with false statements regarding certain bonuses.
Do we really need more evidence to see through BOA’s BS? Banks like this and Wells Fargo have been ripping off their customers for years. Banking with them means your watching your money disappear faster than you can say “hidden fees.”
If you ask me, I’d vote on jailing these executives. HARD TIME. 25 years to life, or something like that.
Source: BAC to pay $250 million for ‘double-dipping’ and fake accounts (yahoo.com)