And there it is.

[kierthos]

Bank of America is dropping it's debit card fee too.

Comments

[jdack]

Maybe public outcry (well online anyway) and bad press really do work.

[mithras]

All their competitors saying they weren't going to charge fees probably helped, too.


Of course, now there's just the Merell Lynch / BoA thing to worry about.

[thedeadcat]

Oh, shitfuck. What ML/BoA thing?

[egearman]

Well, unless he's talking about something else, it's the 3.6 BILLION they paid out in bonuses (~1/3 the TARP money they got) just before being bought by BoA.

If they hadn't gotten the TARP funds, there wouldn't likely be a Merell Lynch today.


http://en.wikipedia.org/wiki/Merrill_Lynch#2008_bonus_payments - a bit more descriptive...

[thedeadcat]

That doesn't make me happy EITHER. *sigh*

[mithras]

Not what monkeyboy listed.

ML had 75 trillion (yes, trillion, and yes 'had') of derivatives. After ML got downgraded by Moody's, they moved much, if not all of it, to the deposit branch of BoA, because they were rated higher.


The problem is, if that 75 trillion tanks, much or all of it is potentially covered by the FDIC.

[thedeadcat]

Oi. Because our economy isn't fucked enough.

[my_window_seat]

I wonder if Wells Fargo will get the hint. They started charging a $5 last month - which I didn't find out about until I got my statement *this* month - and not for using debit cards. Just for the fucking privilege of having an account with them, debit card or no.

I just closed my account this afternoon.
Not that it will make any kind of difference to them - I only used it to cash checks occasionally.
But hopefully other people who will close theirs, too.

Yay for my credit union, who has been getting my trade, hassle-free, for about 8 years now.
Long live the credit unions.

[dreamshade]

Oh, hey, that's great. Too bad I've already decided to find time on my next day off to switch to a local credit union so that I don't have to ever worry about this happening again.