Bank Of America false insurance claim and scam ripoff Charlotte North Carolina

Darrell,

Just read any newspaper or look at any newscast on any of the major networks and you'll see the overall consensus is that banks are now making RECORD PROFITS from fees. And their doing it using clever, questionable, albeit legal practices. Why the sudden change, LOWER INTEREST RATES of course! This has to be merely more than coincidence! The banks stop making as much money from loans as they had in the past, obviously due to lower interest rates but at the same time, those profit losses are countered with record profits from fees. Strange coincidence!

L's situation is all too common with dealing with their reps. It's difficult for some to read and understand the Terms and Conditons in these legally written and hard to understand booklets they put out. No problem you say, just simply ask someone. But it's all too common for one rep to tell you one thing and you take their word, only to find out what they told you was an outright lie or a mistake! If what the first rep told you was an innocent mistake, that would imply the reps themselves don't always understand THEIR OWN Terms and Conditions. But customers are expected to and then RIDICULED when they don't!

Unless you're smart enough to begin recording all of your conversations with bank employees, you're usually out of luck - like L here.

L, you stated:
"Bank of america makes more money from multi multi fees than from legetimate(sic) bank fees.
their managers get bonuses fgrom(sic) coming up with various facets of fees"

Where do you get your statistics/information?

Having worked for Bank of America once in the credit card department(several years ago), I can wholeheartedly say that you have no idea what you're talking about.

The vast majority of money that a bank makes is off of interest. In terms of credit cards, this comes from people who live beyond their means and cannot pay off their credit cards each month. A lot of people out there do not understand that a credit card is just a short term loan that they actually have to pay off at some time.

You're going to have to explain "facets of fees" because saying that a bank makes its money off an actual FEATURE of a fee makes no sense.