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Author: Anne Trimble

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Billion Dollar Bank Of America Needs Chump Change

September 13, 2014 | Posted in Investing

Only 4 years ago, the government made use of taxpayer’s cash to pay $45 million to rescue financial institutions of America from failing like the Bank of America. Despite that noble effort, this financial institution has been implicated in many investigations for deceptive financial doings ranging from foreign-exchange to home loans. Consequently, it has paid millions in litigation. Now, the second-largest bank in this nation in terms of assets needs to grab $4.95 from individuals who are barely making it in this economy and are so desperate to get a bank account that they will accept one without any ancillary services. Is this just a sign of frugal banking practices or a sign of something larger taking place, perhaps like a tiny zit that becomes malignant. There is something weird going on here.