Bank Of America To Pay $772 Million For Deceptive Card Practices

Discussion in 'Stock Market Forum' started by PaulSchinider, Apr 10, 2014.

  1. PaulSchinider

    PaulSchinider Well-Known Member

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    Right ........ !!!
     
  2. JR Ewing

    JR Ewing Super Moderator Staff Member

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    The lending institutions and mortgage brokers could be really bad about pushing unsophisticated borrowers into ARM loans years ago as well. Of course some borrowers with lower credit scores and other high risk factors were only able to get approved this way.
     
  3. jl1401

    jl1401 Member

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    If you ask me Bank of America is not even in the top 10 bank stocks you would want to be holding. They may be big, but they are not strong enough to handle this economy if it goes south again.
     
  4. wanderingwildman

    wanderingwildman Well-Known Member

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    I agree with jl1401. I think that they will be one of the first ones to collapse if the economy takes a hard core crash again. They just have so much instability.
     
  5. waseem59

    waseem59 Well-Known Member

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    Its nothing strange if a bank is going to spend high on securities
     
  6. mark973

    mark973 Well-Known Member

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    It's not surprising. Banks have always tried to get people to spend money they don't need to spend. Bank of America is no exception and, honestly, they got what's coming to them.
     
  7. JR Ewing

    JR Ewing Super Moderator Staff Member

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    Buying Merrill Lynch was a good move.
     
  8. wanderingwildman

    wanderingwildman Well-Known Member

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    I didn't know Chase has such a bad reputation. I should be more careful. That is who my credit cards are with. I never had any problems. But, I didn't read all of the fine print closely to be honest.
     
  9. saintcj

    saintcj Guest

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    This is what happens when an establishment do some black-hat trickery or unethical practices.
     
  10. uggonen

    uggonen Well-Known Member

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    Wow... That's a big amount of money. But if they have been doing black hat activities its right from them to pay for their things.
     

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