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Bank of America (BAC) is denying reports that it is testing plans to charge customers for...

Bank of America (BAC) is denying reports that it is testing plans to charge customers for keeping a checking account: "Media reports this morning provided inaccurate information. [BofA] is not planning to increase checking account fees with our existing customers." Perhaps Sen. Dick Durbin, one of the bank's harshest critics, will be satisfied (WSJ report).
Comments (13)
  • Why would anyone bank at BOA.....way to much up negative going on....
    1 Mar 2012, 06:46 PM Reply Like
  • So, I guess businesses in America shouldn't be free to set fees for their products and services reap the market's reaction(?) I mean, when we have government potentates like Dick Durbin, why should businesses make any decisions by themselves?
    1 Mar 2012, 07:08 PM Reply Like
  • It has gone too, too far - this hatred of banks and the meddling of the Congress / Senate into the banks' ability to charge for the services they provide.


    For those of you who will say - but the taxpayer bailed them out. Yes - but they also bailed out several of the car companies and I've yet to see a headline that reads "Senator / Congressman who wants / needs media coverage is telling GM how to price its cars - saying do away with this charging for upgrades - we all deserve those". Plus we bailed you out.


    If these bank haters want free banking - and it sounds like they do - let them write "Senator / Congressman on a bandwagon" and let him / her know. The rest of us will just add it to the federal deficit and be happy to pay for you.


    And you know folks, it was Countrywide who created the mess that B of A is saddled with and is attempting to clean-up. If someone else had made the stupid mistake that Ken Lewis did by purchasing Countrywide - you might just be hating that firm and not B of A.
    1 Mar 2012, 07:20 PM Reply Like
  • B of A got their reaction.....again....... PR disaster.....ala the debit card mess.....
    1 Mar 2012, 07:24 PM Reply Like
  • Brian Moynahan says " we deserve a profit" even if it includes massive gouging.


    He is doing a good job of chasing away customers.
    He is either stupid or BAC is desperate, or both.
    He is making BAC a political pariah


    BAC should get a CEO and can the stupid lawyer that is running all of the customers off.


    It may get interesting in the future. Should trouble arise economically the political anger at BAC may come back to bite them. Politicians know how to count votes and attacking a symbol of greed and gouging could happen.


    It would surprise BAC greatly if the greedy politicians take boat loads loads of bribe money and stab them in the back... but hey its a jungle out there.
    1 Mar 2012, 08:38 PM Reply Like
  • "Bank of America is not planning to increase checking account fees with our existing customers."


    I think the word "existing" is very important here. BAC may in fact begin charging fees for future customers while leaving old customers alone. This would be a great way to charge fees on checking accounts without upsetting current customers.
    1 Mar 2012, 09:22 PM Reply Like
  • I am a long time BAC stock holder.


    With a 100 billion in revenue, they should be able to cut expenses and make a huge profit. More fees seems like a landmine situation.
    1 Mar 2012, 11:05 PM Reply Like
  • I don't give a rat's ass whether that asshole Dick Durbin is "satisfied" or not!!
    2 Mar 2012, 04:40 AM Reply Like
  • I work for a Bank and they have already started doing that. Where I work at there is no such thing as a "Free Checking" account for a new customers. A lot of banks are doing it
    I don't know why BofA is getting so much flak for what other big banks and regionals are already doing
    2 Mar 2012, 07:00 AM Reply Like
  • Thank you!! Look at JPM or Citi, they both already do this!
    2 Mar 2012, 10:53 AM Reply Like
  • Banks..and other businesses are entitled to make a profit..whether
    the liberals and socialists think so or not..
    2 Mar 2012, 08:15 AM Reply Like
  • Dick Durbin is the scum of this earth. I hope the mofo gets booted out of congress but he likely won't be if he caters to an electorate that believes they are entitled to free stuff. Good point in another post about car cos and nobody asking car dealers to reduce their scams. Also what about the other large fleabags still on the federal dole - AIG, Fannie, Freddie? When do we jettison them?
    2 Mar 2012, 09:09 AM Reply Like
  • Dick Durbin is one of the many reasons Illinois is in the tank. He's a big spending leftist jerk enriching his law firm with govt perks.
    2 Mar 2012, 10:42 AM Reply Like
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