Bank of America Complaint - Changing Products and Raising Interest Rates
Bank of America posted terrible 3rd quarter numbers today (losing over a billion dollars) and they admitted that the worst is not over due to their high Credit Card write offs which are by far the highest in the Industry. Apparently because they made many bad Credit decisions and offerred and extended credit to too many risky customers, they are now deciding to make up these losses by increasing their "fee income". Watch out...anyone who has any type of account with them is going to find they are paying more in fees and interest. They won't even try to defend or explain it other than referring to their Corporate Speak "business preactices" excuse. They are the worsst of the Big Banks for sure...totally ruled by Greed and serving only their stockholders, not their accout holders. Everyone should find a way to close or transfer their account to a Credit Union or smaller bank and let them bleed themselves into extinction.