Another reason to Hate B of A

Looking for new ways to screw you

Earlier in the month, Bank of America announced that it was cutting 30,000 jobs. That’s enough people to work in an entire country. That would be one of our world neighbors that is less developed than the U.S. and much smaller, but it could be done. I wonder how large the Honduran workforce is. Let’s ask the CIA Handbook: 3.9 million. Okay, so I exaggerate sometimes. Thirty thousand souls is still a lot of people. How could they find so many people redundant? Surely, the quality of service and the number of services they provide must decrease.

Now they tell the world that they will be charging a fee! What a surprise! A fee! This one will be monthly and be for possessing an ATM card. That’s because Barney Frank tried to limit the number of ways the credit cards can screw you, back when the Democrats had control of the House and Senate. He tried to limit the unfair practices of credit card companies. One way was to stop the practice of charging vendors fees that they simply passed on to the consumer. Now they are taking a new fee straight to the consumer before they even spend. Just by owning the piece of plastic and having a PIN makes you liable to this fee. They haven’t revealed how much the fee will be, but they have muttered something about rolling it out on a state by state basis.

The banks don’t want to invest in communities anymore. They don’t want to give out small business loans, or help people finance their homes. They just want to charge fees- nickel and diming us to death. No pun intended. I’m glad that I don’t use B of A; however, I’m sure this dastardly practice will catch on with the other banks. This has been a random thought of Russell Smith.


About Russell Smith

I was born at the American Hospital in Neuilly-sur-Seine, France. I find inspiration in the lives of so many people from Joan of Arc to Oscar Wilde. While my primary avocation is photography, I also enjoy philosophy, theology and most of all, history. My beloved wife, Robin Anne Smith, who passed away in 2013 is also an inspiration to me. My beloved partner, Dana is also a great support and inspiration to me. I'd be remiss if I did not mention my cats: Natasha, Maxwell, Tigger and Nigel.
This entry was posted in Business & Economics and tagged , , , , . Bookmark the permalink.

One Response to Another reason to Hate B of A

  1. Mimi says:

    I agree. It’s amazing how banks are no longer interested in financially investing in their customers. They are making more money by charging people fees to use their own money! Even Savings & Loans are now joining the parade. Maybe we should go back to burying our money. At least then we would be able to use it without being screwed.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s