Another reason to hate Bank of America

[WRESTLINGFAN]

Pay up for using your debit cards

http://finance.yahoo.com/news/Bank-of-America-to-charge-5-apf-1381425092.html

[spoon]

They are not alone in passing on more of the cost to consumers. At this pt it's the american way. Credit unions are the way to go. Ahhhhh union! Too bad wf hates them all.

[spoon]

I hear he even refused to eat lunch in union, nj!

[Jujubees2]

And he absolutely despises this MLS team

http://t3.gstatic.com/images?q=tbn:ANd9GcTVBDqphab-jyy2iulOC4wSOO5qKGzk8qqiAljbM77Ex4fILTdf

[KnoxHarrington]

You'll never catch him dressed like this commie:

http://s4.thisnext.com/media/largest_dimension/E4559D8C.jpg

[TripleSkeet]

His children will never step foot on this campus... http://www.union.edu/

[KnoxHarrington]

He won't even listen to this band on the radio:

http://ecx.images-amazon.com/images/I/51ZsP4O371L._SL500_AA300_.jpg

[WRESTLINGFAN]

They are not alone in passing on more of the cost to consumers. At this pt it's the american way. Credit unions are the way to go. Ahhhhh union! Too bad wf hates them all.


FYI I belong to one. Fuck the big banks

I think I'm going to put on Union of the Snake by Duran Duran

[WRESTLINGFAN]

I hear he even refused to eat lunch in union, nj!



Union City?


I love Cuban women

[sailor]

Our chase debit gave points when we used it as credit instead of as debit. I bet that would also get you around the fees even though you're using your debit card (basically, you hit cancel instead of entering a PIN and it rings up as credit).

[spoon]

Only makes sense to do this, but most don't have the discipline to pay it off every period.

[spoon]

Used pts for two first class flights rtrip to Hawaii so it's sure worth it. Did this multiple times to over past few years. Hell, 12 of 19 days of my hmoon were pts paid.

[sailor]

Only makes sense to do this, but most don't have the discipline to pay it off every period.

mine was still linked to my bank account, it wasn't a separate credit card. it just has different rules when it rings up one way vs the other.

[spoon]

U really need to get the starwood and continetal visas. The continental one may change bc of merger, but both have great value in them.

[underdog]

It's only $5/month?

They've stopped charging overdraft fees, for the most part, so I'm ok with this.

[WRESTLINGFAN]

Brief history on how a modest bank became of the most hated financial institutions on the planet

http://didyouknow.org/banks/

[A.J.]

No shopping at this store.

http://theobelisk.net/obelisk/wp-content/uploads/2009/07/GrandUnion1.jpg

[WRESTLINGFAN]

People in Brooklyn dont use this anymore. Its Keyspan

http://farm3.static.flickr.com/2584/3764524376_e7deb5d53a_z.jpg

[Jujubees2]

WF never sent a money gram with these people

http://t1.gstatic.com/images?q=tbn:ANd9GcR7WAVmdmu4ZnuLJXtAdDUBrVx0oRfhm gSMBX6fjxQmqbywGzgb

[WRESTLINGFAN]

Get hitched to whoever you want. Im not opposed to civil unions

[Jujubees2]

Yeah, but I bet you won't listen to this cd

http://t2.gstatic.com/images?q=tbn:ANd9GcS7p1HGVsfsBqkvoWXiuSm06zdYzxYQl F4i-5loTM_wgn8H7pYy

[Tenbatsuzen]

Here's what pisses me off:

I had a Chase debit card.

Every purchase I made, I got airline miles. It was one of the few debit cards that gave miles.

Now, there was a 60 dollar fee, paid yearly, that equates $5/month. I didn't have a problem with this, because I was getting something in return, and to be honest, the amount of miles I was getting made it worth it, along with the other perks.

Back in July, I got a letter saying the Durbin Amendment says they can no longer do the miles program, but they will no longer charge me a fee for the card.

I was upset by this, but there were taking the fee away... OK.

This is just a bad move by BOA, and I'm sure what will happen is, after an outcry, they'll either adjust the fee to say, 1 or 2 bucks a month, or do away with it completely.

[Tenbatsuzen]

It's only $5/month?

They've stopped charging overdraft fees, for the most part, so I'm ok with this.

What about those of us who are actually, you know, responsible with our money? I don't mind paying a fee but I want something in return (see above on the airline miles)

[Earlshog]

What about those of us who are actually, you know, responsible with our money? I don't mind paying a fee but I want something in return (see above on the airline miles)

I wouldn't have put it that way, but I would say I don't see what one has to do with the other.

I read an article in the NY times about this a couple years ago, part of the reason the Durbin Amendment addressed this overdraft issue was banks would be unethical about the order they proceed fees.

i.e. Let's say you had $1,000 in your checking account. Now you charged $10, $15, $30, $50, than $1000 the same day in that order on your debit card linked to that checking account. The bank would process the $1,000 first and hit the customer with five overdraft fees i/o one for the $1,000 that was overdrawn. Very shady and scummy thing to do to your customers, not to mention it effects the most vulnerable.

[spoon]

that sounds very, well, banky

http://nationallampoon.com/wp-content/uploads/2010/02/03jasonleefinger.jpg

[underdog]

This is just a bad move by BOA, and I'm sure what will happen is, after an outcry, they'll either adjust the fee to say, 1 or 2 bucks a month, or do away with it completely.

Or, more realistically, every bank copies this move within 6 months.

What about those of us who are actually, you know, responsible with our money? I don't mind paying a fee but I want something in return (see above on the airline miles)

I wouldn't have put it that way, but I would say I don't see what one has to do with the other.

The bank was raping the customers who probably needed the money the most and no one gave shit (until, after they were bailed out and made a massive profit due to overdraft fees, and that took government intervention to change). This is a voluntary move now and everyone is acting like it's the end of the world.

You put money into an account and you can use it ANYWHERE IMMEDIATELY and the fact that they want to charge people $5/month for it is a travesty.

This is exactly like people freaking out over Netflix changing their prices.

[PapaBear]

Or, more realistically, every bank copies this move within 6 months. .
I just saw on the news today that many of the big banks already do something similar, though some are just testing it regionally. The list includes Wells Fargo, Suntrust, and others.

Edit: This isn't the news report that I saw, but it says pretty much the same thing (http://www.abcactionnews.com/dpp/news/region_tampa/banks-to-charge-fees-for-debit-card-use).

Still, it's not just Bank of America. Other large banks like Sun Trust, Wells Fargo and Regions Bank are already testing out the new fees, and banks may not have to worry about losing customers.
A new poll shows consumers are more likely to change their method of payment to avoid the fees, rather than take the time to find a new bank.

[PapaBear]

WF never sent a money gram with these people

http://t1.gstatic.com/images?q=tbn:ANd9GcR7WAVmdmu4ZnuLJXtAdDUBrVx0oRfhm gSMBX6fjxQmqbywGzgb

Especially since the only people who send money this way anymore are usually sending it south of the border.

[KnoxHarrington]

Especially since the only people who send money this way anymore are usually sending it south of the border.

And you'll get a far worse assraping in what you get charged for that than you will with this fee BoA is charging.

[StanUpshaw]

These days how are banks making any money? No one is taking out loans, and when they do it's for 3.5%.

People only see it as the banks fucking over people, but all they're doing is distributing the fed's destructive policies down to the end user.

[PapaBear]

These days how are banks making any money?
Credit and Debit card fees. They get a piece of millions of purchases every day, even if everyone paid off their credit card balances every month. And most people don't.

[boonanas]

Not sure what the article says but the debit card fee is due to the fact that the Durbin Amendment was enacted in July, putting a cap on all interchange fees (fees given to banks by merchants for debit card use per transaction). This Amendment was put through so that the new savings by the merchants would be "passed down to consumers" (WHICH WILL NEVER HAPPEN). I work for a credit union and this is such an absurd and naive piece of legislation. In the end, the consumers lose rather than gain.

[hanso]

At least it is out in the open and not some hidden fee. My bank had some card debts I never made first time that's ever happened.

[Dude!]

My bank had some card debts I never made first time that's ever happened.

could someone please
translate that for me?
Tks.

[bohicanator]

Not entirely unrelated.. But this is about Capital One.

What a piece of shit Jimmy Fallon is for making "Commercials" for those shysters.

What's a matter Jimmy, you don't got enough money from everything you've ever done?
He's a classless piece of shit for putting his face on these credit card commercials.

He might as well start making the J.G. Wentworth commercials.

Like Bill Hicks said about Satan's penis: "Go ahead, SUCK IT, -it's ONLY your DIGNITY.

-Bo out.

[cougarjake13]

At least it is out in the open and not some hidden fee. My bank had some card debts I never made first time that's ever happened.

could someone please
translate that for me?
Tks.



missing the i perhaps ?? as in debits ?

like the bank took a debit tranaction fee

[hanso]

Charge that never happened w/ no description.

[Dude!]

Charge that never happened w/ no description.

no, cougarjake's interpretation
makes much more sense

[PapaBear]

no, cougarjake's interpretation
makes much more sense
CJ is going to hate your guts, when we make him the official hanso interpreter.

[Dude!]

CJ is going to hate your guts, when we make him the official hanso interpreter.

do it

[PapaBear]

do it
Nah... As a former cryptology expert, I actually enjoy the occasional hanso cluster fuck.

[JPMNICK]

These days how are banks making any money? No one is taking out loans, and when they do it's for 3.5%.

People only see it as the banks fucking over people, but all they're doing is distributing the fed's destructive policies down to the end user.

they lend at 3.5% and pay out .35% on your accounts, so they have the same spread as before

[StanUpshaw]

they lend at 3.5% and pay out .35% on your accounts, so they have the same spread as before

You're forgetting fractional reserves. If they were limited to lending only what was deposited, that would be true. But they get to lend that cash over and over again, thus deposits-to-loans is an exponential relationship rather than an arithmetic one.

[hanso]

If I don't understand a charge w/ no description. Then how can I explain it?

Screw you all talking crap on me.



I said i didn't make it that should be enough
error
erroneous
amiss
incorrect

capiche

[StanUpshaw]

huh?

[sailor]

was it a waiver fee?

[StanUpshaw]

So someone actually issued hanso a credit card.

I might have to rethink my criticism of consumer protection efforts, because those predatory scumbags obviously took advantage of a very vulnerable individual.

[disneyspy]

screw you guys,he was talking about debit card charges that mysteriously appeared,not credit card charges

i bet they were where's the beef charges

[spoon]

God you suck ds

[PapaBear]

screw you guys,he was talking about debit card charges that mysteriously appeared,not credit card charges

i bet they were where's the beef charges
You read it wrong. He doesn't have a debit card. He has a debt card. I think it's a government thing.

[Tenbatsuzen]

This is just a bad move by BOA, and I'm sure what will happen is, after an outcry, they'll either adjust the fee to say, 1 or 2 bucks a month, or do away with it completely.

I'm a very smart person.

[disneyspy]

I'm a very smart person.

your monitor is not a mirror but dog gone it people like you

[spoon]

no they don't

[cougarjake13]

I'm a very smart person.

congrats sir

[WRESTLINGFAN]

Not a fan of Bank of America but investigating this case, did they find that no white people were also steered into subprime loans? because I can tell you that all kinds of loan programs were thrown at me and I was smart enough to stick with a 30 yr fixed.


From CNN.COM


Bank of America will pay $335 million to settle federal claims that its Countrywide unit discriminated against minority borrowers, Justice Department officials announced.

Attorney General Eric Holder said a federal probe found discrimination against 200,000 qualified African-American and Hispanic borrowers from 2004 to 2008 during the height of the housing market boom. He said minority borrowers who qualified for prime loans were steered into higher interest rate subprime loans.

Bank of America purchased Countrywide in 2008 for $4 billion in a deal that made the bank the nation's leading mortgage lender at the time. The deal closed in July 2008 ahead of the meltdown in financial markets that fall.