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Month After Getting $3.5 Billion Tax Break From Trump, Bank of America Hikes Fees on Poorest Customers


#23

Just an aside, you can insure credit cards against loss, as least you could at one time. I haven’t used them in years so it probably has changed. I worked in social services so yeah, poor and getting poorer like most Americans.


#24

Ditto, ditto, ditto, ditto!!!

Haven’t had a bank account in decades, when I was a kid back the 50’s and 60’s, fer cryin’ out loud!

I have better things to do with the money the damn banks want for all their ‘services’.


#25

"And do they expect these banks to provide free checking?

Actually, yes, they should . . . expect and have it be free.

I have multiple accounts with my credit union, including checking, with two free books of checks annually, online, or ‘digital’, banking, and for all this I pay . . . $0.00

So, yeah, get off the pay-for-banking racket. Go credit union.


#26

I’ve got no problem with that. People doing business with such banks are acting against their own interests, and mine. This might be a learning moment. We’re better off at a credit union or savings and loan.


#27

The state of California has granted BoA the rights to handle all of the state unemployment compensation funds. You don’t get a check from the state that you can put wherever you want - you get a BofA card.


#28

Direct deposit

Into execs’ pockets


#29

Who was it that said that America would never be defeated from outside. That when she fell, it would be from within.


#30

UGH. I didn’t know that. That’s despicable.


#31

Business rules are to monopolize and make it so that the marks cannot reasonably take their business elsewhere, and thus must stay quiet and respectfully give money. When a business gets to this situation then if you don’t like the business’ rules, then tough for you.

While the banks have the upper hand currently, with our vast advantage in numbers we have an overwhelming potential to out think them if in their hubris they become too careless and too out of touch with reality and the situation forces us to actually think, understand, and figure out how to respond.


#32

Can the unemployed in California easily withdraw their unemployment compensation balance from the BofA card as cash without incurring a fee or service charge?


#33

I believe there is some protection from fees. As I know it, there are not fees for using the ATM at Bank of America and I think you can withdraw all of your money but you have to go to the Bank of America to do it. It is obviously a big bias by the state towards BofA and would hurt smaller, local banks and credit unions. Typical though.


#34

Yes, and they are one of the criminal organizations that caused the crash. Do we expect them to act differently?


#35

Savings and loan criminals went to jail in the 1980s.


#36

Curious what DO you do then?


#37

Credit was established so that people could take out loans instead of getting raises.


#38

Yes, unless they are in a corrupt business.


#39

Just one more proof that government is the threat. Government can force you to do things that corporations can’t


#40

Pull your accounts , you dumb sheeple. Put the bastards out of business.


#41

Another question is whether the unemployed can use the BofA card as a VISA card. Usually poor people have to purchase pay in advance VISA cards at fairly stiff rates if they need to make VISA purchases, which is a significant discrimination that the poor face in trying to survive in this economy financially. If the BofA unemployment compensation cards handle this need in a fair manner then about time that this has been done. If not, then why not?

A further question would be if the unemployed will still be able to use the BofA card when they get employed, and how the rates will change at that time. I suspect that the advantage to BofA is in getting new long-term users of their cards who will be paying charges and interest on the balances owed on the cards, in part to replace those many former BofA card users who have gotten pissed off and stopped using BofA.


#42

Absolutely! I bank with Wings Financial Credit Union. Love them! My mortgage is with Wells Fargo, however, though they have been great, thus far.