Bank of America Complaint - Inaccurate Interest Rates
ARLINGTON, MASSACHUSETTS -- I have had an consolidation loan with Bank of America for a few years and have been paying it off religiously. Supposedly the APR on any Cash Advance was suppose to be 17.99%. What they don't tell you is the interest owed is compounded DAILY!!!! Each month I was paying the amount I owed and only 1/2 of my patient was going to lower the loan. In my calculation this is 50% Interest charged and not the stated interest. Wouldn't this be Loan Sharking. I was able to obtain some money and pay off the loan completely. BUYER BEWARE!!!!!!!!!
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