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

Atleast the customers are getting a refund. There have been worse outcomes from similar situations.

 

Probably just a drop in the bucket for BoA, but they are starting to add up. It seems as if BoA is constantly paying penalties, just hopping from one customer infraction to the next.

 

It's great that this has been finally settled, but those numbers kind of scare me. They fooled THAT many people off their money? I mean seriously, that's an insanely huge amount of money. The fines themselves doesn't seem any big at all in comparison to what they have to pay back to all the customers, and we can also count on that a lot of customers won't use their services anymore after this.

 

This is interesting but not surprising. BOA recently bought out a credit card company that I held a card for. I was concerned when I learned this because I've heard many "shady" facts about them.

 

I am not shocked by this, BofA charges you for everything and their business practices are ridiculous. I banked with them for about a year and then promptly closed my account because they made me so mad. I do not like this bank at all.

 

This does not surprise me coming from Bank of America. I banked with them for about a year and I would always see fees that I did not understand. They were extremely small fees so they seemed to go under the radar but with a situation like this one, they should be fined. This might go along with the ongoing trend of bank owners committing suicide. Why are they taking people money? What are they trying to cover up?

 

Bank of America Corporation has reached a settlement with bank regulators to pay $772 million in fines and customer refunds for its deceptive credit card practices

 

This is just sad.. Everyone should know the Credit card protection is a SCAM! I hope they get a bad-rap for this, they are plain out stealing!

 

Almost one billion dollars fine? What sort of practices are they doing to deserve such a fine... I just hope that the people who lost with their actions get properly compensated.

 

It's incredible how they think they can get away with this.
Maybe they are even getting away with other situations that haven't been discovered yet...