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That didn't take long. Massachusetts Sec. of the Commonwealth William Galvin slams Bank of...

  • Thursday, March 1, 2012, 12:27 PM ET
    That didn't take long. Massachusetts Sec. of the Commonwealth William Galvin slams Bank of America's (BAC +2.3%) consideration of new fee structures on its checking accounts, and proposes a law barring banks from holding state deposits if they don't offer basic checking without fees. Expect to hear soon from the new Consumer Financial Protection Bureau. (also)
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This news story has 12 comments:

  • That's right..I demand that businesses offer FREE services..
    They have absolutely NO right to make money..
    1 Mar 2012, 12:30 PM Reply Like
  • We don't get free water or electricity; but we will get free checking! We demand it. Ridiculous.
    1 Mar 2012, 01:38 PM Reply Like
  • Someone should tell this douche he has to offer free checking
    1 Mar 2012, 01:44 PM Reply Like
  • Yes, I am all for slamming the banks! What right do they have trying to be profitable. AND it is not the state's money it belongs to the citizens so who does he think he is. I am getting fed up with govt. telling businesses exactly how to operate.
    1 Mar 2012, 03:25 PM Reply Like
  • who still use checks? i have written maybe 10 checks in the last year. although i still have a current check acct i do most of my business online, so banks are making mula on both sides!!! Banks should not charge banking fees if you have your money with them!
    1 Mar 2012, 05:56 PM Reply Like
  • This SOB of a gov't socialist should keep his stink'in motherless nose OUT of the private sector. What a POS!!
    1 Mar 2012, 07:06 PM Reply Like
  • .....Nasty letter to follow.
    1 Mar 2012, 07:22 PM Reply Like
  • If Durbin is against it, I am for it. Regardless of the issue or topic.
    He is anti-American, anti-business, anti-family and anti-God.
    1 Mar 2012, 07:24 PM Reply Like
  • Let's propose tax free governt.We get all our services for nothing.Durbin for President.
    1 Mar 2012, 10:12 PM Reply Like
  • I agree with Durbin. The banks are already making money on our deposits and paying practically nothing in interest. Lots of us opened accounts there to begin with because of free checking, which they offered because they knew they would have the use of our money.
    2 Mar 2012, 04:00 AM Reply Like
  • You agree with Durbin??? Thats fine, you have the ability to go to a different bank if you are not satisfied. But for that JERK to say that the bank has no business charging fees is idiotic, socialist, pandering to an ignorant element of the public, Un-American, anti-freedom, and "anti" anything that has to do with free enterprise. He is a POS along with that prick in Massachusetts.
    2 Mar 2012, 12:18 PM Reply Like
  • How dare the evil empire(aka Bank Of America) make any money? I William Galvin demand that the costs of providing a service in this fair capitalist country of ours - such as salary, benefits, hardware and software, lease, electricity, property taxes, regulatory costs, licensing fees, under the table payments to me, etc all be borne by the staff and management of the bank and decree that the staff be whipped if necessary to comply with my order. I do not find any inherent contradiction in collecting a paycheck for providing my services to the citizens of MA even as I demand free services of others. You see I am doing God's work and God decreed that I collect a cushy paycheck, have generous medical benefits and be a parasite existing on public money. I shall entertain no questions on this apparent disconnect because it's perfectly rational to me. Furthermore fair citizens of MA please expect to see decreased choices in where you bank and an increase in your tax rates because you see God's work has unintended consequences BUT it is the highest calling. And so shall it be as I sit in Starbucks here at 2.00 PM on a Monday afternoon sipping my 4th latte for this month and having called it a day at the office. Free banking is our birthright and we shall fight all evil empires to get it. O Great Brother Dick of IL do not fear, I have joined your battle and together the two of us shall conquer.
    2 Mar 2012, 03:48 PM Reply Like
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