Remember how consumers were going to be protected?
Bank of America has a great defense for many of these fees. Our GDP reports include consumer spending numbers for things that aren’t actually paid for, like the value of free checking accounts. If the US government says such accounts are worth more than people actually pay, why shouldn’t banks charge more?
But seriously, time to join your local credit union.
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squashed said:
So … this doesn’t really bother me. Paying to use a service that costs money doesn’t hurt consumers. If BoA is overcharging on this, it’s going to hurt them as they lose (many) customers. But here the charges are paid by those who incur the costs.
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crazynutjob posted this
