Will You Cancel your Bank of America Account?

Are you going to stay with Bank Of America with the new debit fees

  • Yes, I will keep my Bank of America Account

    Votes: 3 7.1%
  • No, I will cancel my BOA account

    Votes: 7 16.7%
  • Undecided

    Votes: 6 14.3%
  • I'm not a BOA customer but if I was I would keep my account

    Votes: 3 7.1%
  • Not a BOA customer but if I was I would cancel my account

    Votes: 23 54.8%

  • Total voters
    42
the banks chose to do this, regardless of new legislation...

those of you mouthing off about politicians are being played as fools by the banks....WAKE UP, you are being FOOLED.

banks planned on this long before legislation...ther banks with huge credit card businesses have been suffering in profits from their charge card area because many customers chose to use their debit cards to pay for things, which had no interest charge.... the banks were losing money on this, so these fees that they are adding is their move, to try to get their customers to move, back in to using their charge cards again.

If you think the Durbin amendment isn't directly responsible for BofA and other banks making this choice, you're the one who is being fooled. They aren't going to allow the government to force them to lose profits. A corporation's first responsibility is to its shareholders. That is Economics 101. If shareholders don't get a decent return on their investment then they don't buy stock. They don't buy stock, the company has less capital to invest. Less capital equals less employment equals higher unemployment.

That's the way the real world works. All this unnecessary bullshit regulation is why our economy is stagnating and all it does is hurt the little guy in the end.
 
"If that were true then you'd cut the bullshit lying and own up to the truth."

I'm not lying DTMB and you're a coward to challenge me for lying while hiding behind a keyboard. You're also stupid if you believe banks and bankers are your friend.

I never said banks were our friends.

And what is cowardly is you sticking your head in the sand and dishonestly accusing someone else of spin because they rightly point out that the people YOU vote for are directly responsible for what just happened. Like I said, party before country.
 
They have immense profits, which they are not going to allow to be cut.

Why? Because the asshole institutions helped drive the oil and mortgage meltdowns through unwise lending and investment.

They want us to carry the weight of their poor decisions, that weight being carried with our money and their fees for our use of it.

Think this through, folks.
 
I withdrew my money from those thieves after the bailout and invested into the local credit union.

We have been FCU members for decades for our own personal funds and accounts.

I use banks for our businesses, and we keep them accountable. They don't like it? We bank elsewhere. We have only had to move twice in many years and are quite satisfied with our current banker.
 
And anyone with an checking account should. If Chase gets rid of free checking I will drop my account next day. There will always be a place that has free checking. I know my credit union does, same with my local bank!
 
What? That the banks would continue to try to oppress its customers with unjust charges and fees? If they weren't regulated to some extent, they would hammer us. You can say, well, they would be making good money, so . . .. Don't you understand, they want every last dime they can soak out of us.

What was unjust about charging businesses 48 cents if they wanted to get paid? IF the business did not like it they could say they only took cash, or they could charge extra for people using a debit card. A few businesses actually went the latter route, and not single progressive idiot had a problem with it.
 
This is a result of asinine regulation. Congress passed a law on the fees the banks can charge stores for use of the cards.

One would think this falls under the rubric of unintended consequences, but given the rhetoric out of the Democrat party, I think this whole plan is deliberate

1. Democratic Party.

2. Show me a banker who claims they have to charge a fee due to regulation, and I'll show you a liar. Show me someone who believes it and I'll show you a gullible person who will believe anything.
 
the banks chose to do this, regardless of new legislation...

those of you mouthing off about politicians are being played as fools by the banks....WAKE UP, you are being FOOLED.

banks planned on this long before legislation...ther banks with huge credit card businesses have been suffering in profits from their charge card area because many customers chose to use their debit cards to pay for things, which had no interest charge.... the banks were losing money on this, so these fees that they are adding is their move, to try to get their customers to move, back in to using their charge cards again.

If you think the Durbin amendment isn't directly responsible for BofA and other banks making this choice, you're the one who is being fooled. They aren't going to allow the government to force them to lose profits. A corporation's first responsibility is to its shareholders. That is Economics 101. If shareholders don't get a decent return on their investment then they don't buy stock. They don't buy stock, the company has less capital to invest. Less capital equals less employment equals higher unemployment.

That's the way the real world works. All this unnecessary bullshit regulation is why our economy is stagnating and all it does is hurt the little guy in the end.
no, I'm old enough to not be fooled anymore...they had me for a while, but no more.

Just read the article Taz, it says so RIGHT IN THE ARTICLE if you read farther down than the headline....it's there, in print.
 
Bank of America debit fee is only the latest | Consumer News | Seattle News, Weather, Sports, Breaking News | KOMO News

NEW YORK (AP) - Angela Malerba, who works in public relations in Boston, carries a debit card because she likes to know when she buys something that she has enough in her account to pay for it. But paying $5 a month to use her own money? That's too much.

So when Bank of America starts charging the fee next year, Malerba figures she'll rely more heavily on her credit card. Or, in a strategy that seems almost quaint in these swipe-and-go times, she may just carry more cash.

I for one, on Monday, am going to my local bank of america branch to ask to be exempted from these fees. If they refuse i will cancel my acccounts with them.

What are you going to do if you are a customer?

UPDATE: Branch manager here said "sorry, we can't exempt anyone at this point in time" So I said "sorry, I can't continue to do business with you then when other banks are not going to charge me as a result of dodd-frank"

So yeah, screw you BOA, you just lost one dude who does thousands of dollars in transactions yearly meaning your 2% fee/transaction is gone too.
 
They have immense profits, which they are not going to allow to be cut.

Bank of America has not made a profit since 2008. They have lost billions each year since.

The Bank is immensely profitable, but it will not retire its mortgage meltdown debt, because to do so would the salaries and bonuses at levels which are astounding to the rest of us.
 
Yanno..........ya really gotta wonder about a bank that makes lots of money in interest, of which they funnel down a pittance to the one who actually OWNS the money, who then, (because apparently, the golden parachutes need to be bigger), charges you for any transaction that you do at any place OTHER than their ATM's.

Shit............that's highway robbery on the sidewalk.
 
This is a result of asinine regulation. Congress passed a law on the fees the banks can charge stores for use of the cards.

One would think this falls under the rubric of unintended consequences, but given the rhetoric out of the Democrat party, I think this whole plan is deliberate

The regulations are the result of confiscatory and deceptive practices by banks.

You shouldn't blame the abused for abusive behavior to which they're subjected.

I'd suggestthat if you look at bank profits, theynate doing quite well.

Rich men wanna be king, yes?

What is abusive about charging a company for providing them a service? That really is the root cause of all of this. If you have a BoA debit card for example and you use it at Wal-Mart, Wal-Mart has to pay BoA for processing that transaction. If you want to blame it on someone blame it on the special interests in washington you libs are always so upset about. Because a special interest group got together, bought a bunch of politicians into sponsoring a bill essentially absolved the retailers of having to compete in this free market. They basically whined to washington and said we don't like having to pay a company for this service they're providing us....and they go they're way. So since they can't collect that processing fee from the retailers they're going to collect it from you instead. The blame for this falls squarely once again on idiot liberals in congress who can never see the forest for the trees. But as we can see in this thread they were able to dupe their little liberal sheep like yourself into blaming 'evil' corporate america.
 
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Bern80, this is a conlib problem and a citizen problem. The problem is greedy banks who must be reigned in. They say they will go overseas then, then the Congress will increase the corporate tax rate on banks on the amount of transactions done in the US. They will heel in a heart beat.
 
Bern80, this is a conlib problem and a citizen problem. The problem is greedy banks who must be reigned in. They say they will go overseas then, then the Congress will increase the corporate tax rate on banks on the amount of transactions done in the US. They will heel in a heart beat.

Again I ask what is 'greedy' about charging someone for being provided a service?
 
This poll is representing exactly how market system should work.

If BoA is charging their customers too much, let the people decide of staying with them or moving their money elsewhere. It's not a political issue nor is presidents job to call for a legislation of banking fees and turning people against them. Let the market work, moron.
 
Horsecrap, kids. When a bank fills a public service interest, the government as part of the We the People has every right to be concerned about We the People.
 
Ame®icano;4230610 said:
This poll is representing exactly how market system should work.

If BoA is charging their customers too much, let the people decide of staying with them or moving their money elsewhere. It's not a political issue nor is presidents job to call for a legislation of banking fees and turning people against them. Let the market work, moron.

Exactly. In a free market system utilized by free people with unalienable right secured, except where usary or intentionally unethical practices are involved, the people themselves are the best regulator of the market. When the small local banks that aren't gouging the public start reaping the benefits and the big banks start losing deposits like crazy, we will see an abrupt about face in an unpopular policy or practice.

The more the government gets involved in how anybody does business, the less freedom and opportunity there is for the free market to work and generally the people will be screwed far more than will be the case if the government just lets the customers handle it.
 

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