Consumer reviews and reports on scam companies, bad products and services
Bank of America Bank of Fees and Extortion, Internet
20th of Oct, 2011 by User594351
Bank of America is an unscrupulous corporation that will stop at nothing in order to make a profit. A Bank of Fees and Extortion!!!

This is a bank that preys on their customers and takes advantage of their status in order to elicit huge interest rates on credit cards; 24% while savings interest rates are an incredible .025%. The same bank that experienced financial difficulty and received a bailout from the Federal government. A bailout that we as taxpayers contributed to and then BOA has the gall to turn around and collect on their customers again through these exorbitant interest rates. How nice to receive a handout, when experiencing a financial crisis? Does BOA extend the same courtesy to their customers? We already have the answer to that one.

BOA is a poorly operated financial entity that allows greed and arrogance to influence it’s decision-making processes and focuses totally on profit and does not use due diligence when assessing risk.

Remember the foreclosure scandal in which Bank of America illegally repossessed foreclosed properties by applying their own interpretation to a perceived loophole in the law. THESE ARE FAMILIES THROWN OUT ON THE STREET BY A MERCILESS predator that used its force to recoup their losses when the economy declined.

Three class action lawsuits for illegal and unethical business practices resulting in the collection of ISF and unpaid items which Bank of America extorted money from customer accounts. First on checking accounts some years back and then on the processing of international transactions. Transactions were processed not on date of withdrawal but when exchange rates where in the bank's favor resulting in the collection of higher fees to the customer.

The latest lawsuit involved the processing of debit card transactions prior to credits in order to collect on fees, once again. Playing the same game twice is just evidence of their incredible arrogance, disregard, and contempt for their customers. There is no shame or accountability in BOA’s actions, it's about profit!

All three class action lawsuits against Bank of America were cited in favor of the plaintiff and BOA was assessed heavy fines for their contemptuous business practices.

Check your statements and see how many fees ;( I counted 6 for typical everyday banking transactions and customer requests, excluding late fees, NSF, Unpaid Items, withdrawal overage, etc. etc) and how many conditions apply to the money you entrust to them as a customer.

BOA customers witnessed what happened with the Debit Card Fee announcement (resulted in the shutdown of the BOA web site) so take your money and go elsewhere and show BOA that we can also play hardball!!!Without customers BOA is NOTHING – send a clear message that we are through with their strong-arm tactics, fees and complete disregard for their customers!!!!

Bank of America = Bank of Fees and Extortion! SOLUTION, think about using a Credit Union!

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