It’s possible that the banking industry deserves even less public sympathy than it currently has (if that is even possible). Bank of America is apparently having its estates department attempt to wring money out of survivors of its deceased account holders that they don’t legally owe. The economy is being held hostage by companies that are both incompetent and malicious.
I agree, BoA is one of the worst. The simple solution is to not wait for the government to do something. This is the free market. Move your money and your business to a bank that doesn’t do this kinda crap. I fired BoA (well, one of it’s ancestors, NationsBank) almost 15 years ago and it was a great day!
While I’m on the subject of consumer power, this can apply to TARP banks as well. Fire them all and put money into banks that were/are responsible. Ones that took unnecessary risks should die and if the government won’t let them fail, consumers should make them fail.
My wife and I fired Wells Fargo a few weeks ago and are now completely TARP free. For the most recent list of TARP banks… http://www.treasury.gov/initiatives/eesa/transactions.shtml
I like Jeff’s suggestions. The only problem is that as the economy worsens more banks will queue up to receive public assistance.
Specific to B of A, they just raised my credit card interest rate to 17.99%. http://malcontentist.com/2009/02/et-tu-bank-of-america
I have never defaulted to them or anyone. For a company funded with taxpayer dollars, this is beyond ridiculous.
Bank of America estates department hired a “collection” firm to collect on a credit card of my deceased mother claiming the entire balance was due in full – even though I have been making timely payments on it (and am not legally obligated to do so). The collection firm calls me every day. B o f A is the worst.
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