Bank Of America 5 Dollar Debit Card Fee
***UPDATE**** Freaking Foxnews Chicago used my vid for their broadcast! www.myfoxchicago.com The crooks are at it again. They’ll make over 3 billion a year off this. That’s after unloading 73 billion in toxic mortgages onto the US Taxpayer just a few weeks ago. Way to go BOA, you’re a class act!
Video Rating: 4 / 5
Link From: newzzcafe.com The fraudulent CEOs looted with impunity, were left in power, and were granted their fondest wish when Congress, at the behest of the Chamber of Commerce, Chairman Bernanke, and the bankers’ trade associations, successfully extorted the professional Financial Accounting Standards Board (FASB) to turn the accounting rules into a farce. The FASB’s new rules allowed the banks (and the Fed, which has taken over a trillion dollars in toxic mortgages as wholly inadequate collateral) to refuse to recognize hundreds of billions of dollars of losses. This accounting scam produces enormous fictional “income” and “capital” at the banks. The fictional income produces real bonuses to the CEOs that make them even wealthier. The fictional bank capital allows the regulators to evade their statutory duties under the Prompt Corrective Action (PCA) law to close the insolvent and failing banks.
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I agree 100% man. In October, $25 Billion dollars was already granted to B of A, and more came in from the Treasury totaling $97 billion. And while their profits may still be under attack there still should be no reason to charge a fee on the front lines. AIG was using the bailout money on big bonuses, parties etc… This fee is a reflection of major executives not wanting to lose their accustomed “lifestyle.” We won’t give them their “golden” parachute. Get Corporations OUT of politics!
congrats on your exposure! you are super cute by the way
Closed my BOA account, found a credit union that pays me 3% interest on my checking account.
additionally, the fee is not being charged everytime you use your card nor is it charged for having it, its when visa or mastercard get involved in making it possible for us to be able to make a purchase at point of sale, online over the phone etc…
@creativem2 Dude so are you mad at the banks or are you mad the the greedy mortgage banks, the countrywides of the world??!! make up your mind! by the way the JP Morgan bank that you are recommending to all of your viewers are also going to be charging a similar fee to their customers, see the thing is, that due to the government interjecting in order to try to assist the small businesses all banks are going to lose on this one meaning so do WE. . .
Closed my BofA account yesterday.
LOL…people on this thread are actually defending Bank of America’s greed, suggesting that it is government regulations fault why this happened. In reality, most of the govt regulations were lifted, and that is why bad loans were allowed to be passed around unchecked. a lack of regulations is what destroyed our economy. Guess what? Obama refuses to regulate the banks. He is still working under the old Bush plan. Its going to happen again.
gotta love greed… I know they do.
@beachblondie5485 It’s “You’re” an idiot, numbnuts.
Secondly, where did I say they charge you $5 per purchase? Nowhere. I was referring to the fee they charge the merchant, when you use a debit/credit card to buy something. That’s why stores have a minimum purchase when you use a card, dipshit. It’s called “Reading comprehension,” You learned it in middle school. I know what was ancient fucking history to your dumb ass, but I’m sure you can remember. Just try real, real, real hard.
@hawanja Your an idiot. It’s 5 dollars a month only if you use your debit card for purchases. Not if you swipe at the atm and it’s not every time you use your card its only once a month if you use it for purchases. It’s uneducated fucks like you that vote in socialist politicians and then complain when they do what you put them in office to do.
@JSWill1963 they are outsourcing to india because of cheap labor and they can probably beat their emoloyees to.
@The5000ck No one seems to be talking about how a $5 fee every time you use your debit card is highway robbery in the first place. It may not have been 30 years ago when they first put the electronic systems in place, but nowadays that’s probably $4.95 of pure profit.
Fuck the banks, stop making excuses for them.
@The5000ck Uhh…yes I do. I made the vid about 5 minutes after reading the news and it’s been 2 weeks so I’ve had some time to “educate” myself on what all is going on with this. Both the govt. and the banks are to blame. I wish someone could explain the 73 billion in toxic mortgages that they unloaded on the taxpayers. But thanks for trolling!
Uhh… you do realize this is your government causing the problem right? Before sounding uneducated to the world on YouTube, maybe try to understand the entire situation first.
It’s easy and incredibly naive to just place all blame on BOA for the fee – but for your information BOA is going to lose billions because the government is interjecting where it doesn’t belong. Usually merchants pay this fee to the banks when a customer uses a debit card. Thank your socialist government for the change.
If everyone withdrew their money from the bank wouldn’t that lead to another depression?
“put it in ass national, your back pocket” BRILLIANT GOOD SIR!
We need to get rid of using banking credit cards, going back to cash temporarily until we succeed in our occupy.It would be the first thing we should do. Cash our checks at the banks that are printed on the checks….until further notice…… Business owners we hope its only temporary !
if the government is the true cause then maybe we should stop paying taxes. it’s the same thing as leaving b of a, but of course, who wants to be arrested for not paying taxes? If there were only some way to make the government suffer??????
I have a bank of america card alone with all my family about ten of us as soon as they start charging we are closing them down. Thought bank of america was looking out for the people but like guess not diappointment f u BOA
kiss my ass bofa u greedy mothfkrs fck you CEO OF BOFA U GREEDY BITCH YOUR GNA LOOSEE ALL UR CUSTOMERS …
I wish I had a Bank of America account right now. Why? So I could close it.
Great interview! CNN would have done differently…
Bill Black offers a much more comprehensive approach to this criminal and apocalyptic fraud banksters manage to hide for years
About 1 year later, “b.of. a., along with j.p.morgan, unloaded their derivatives (gambling bets?) onto the f.d.i.c.” I heard that when euro/zone fails, the american taxpayer will be holding the bill, ! (Sounds rather criminal, & NOT even ask the people 1st?)
@TheRedCapitalist
)
The rule of law is the “past glory, outdated legal principles and paradigms” which – not Bill Black – is “harboring a worthless sense of morality”. If you’re happy about that executed “final solution to the-rule-of-law problem”, then you’re the one who’s glorifying even earlier “past glory”?
Maybe Mr. Black would sound more convincingly to you if, instead calmly displaying facts, he exaggeratedly emphasizes a bunch of baloney, just like, i.e., “the philosopher” Ayn Rand?
Countrywide marketed “SISA” loans. SISA stood for ‘stated income, stated assets’ and allowed potential homebuyers to “state” their incomes and assets, without being required to provide substantiation!
The sub-primes created by the Big Five lenders (Washington Mutual, Chase, Wells Fargo, Bank of America, and Countrywide) were a bad idea from the get go.
“We’ve allowed perpetrators and predators that are abusive and dangerous to take over and inflitrate the very fabric of America. They’ve violated our constitutional rights and we need to wrest whatever we have left of the American Democratic Republic out of the hands of these criminals.”
So TRUE.
@michielma
Fire?
Throw their asses in prison where they belong!
They cannot arrest these people because their crimes are too big to fail.
Why should Holder, Geithner and Bernanke get fired?
They did EXACTLY the job they were supposed to do.
Just not the job they were signed up to do
Fire Geithner. Then fire Ratigan.
@zmcg
Thanks.
@Beingreal40
Actually some other good people to listen to are Seymour Hersh, Chris Hedges, Michael Hudson, staff of The Nation, and Democracy Now, and probably many others I have yet to discover.
Here we go, nonattorney strait talk.
William Black- They only one left in America you can trust to tell the truth.
I am surprised they have not assassinated William K. Black yet.
I respect and admire William K. Black. I am surprised they have not assassinated him.
@seesitnow4sure What about capital punishment?
i have been saying since THE FALL OF 07 ON YOUTUBE and the beginning of the bernanke FFR cuts that the economists of the eastern establsihment who are mostly parrotted by every college prof in the usa and high school econ teacher…..ARE STOOGES AND SCHILLS FOR WEALTH CLASS ECONOMICS…..every fed official will look for any reason to keep rates low, that helps wall street and rapes mainstreet and provides the foundation for schemes like the mortgage fiasco and zero return on your bank savings.
ALL THE USUAL SUSPECTS HUNG TOGETHER SO THEY WON’T HANG SEPARATELY……….that’s why those ungrateful french peasants put down their cake and went head hunting………
THEY ALL HUNG TOGETHER SO THEY WONT HANG SERPARATELY..
@farmboycarl Fuck the government, what about the bankers?
@seesitnow4sure What about execution?
@farmboycarl Money changes everything. I know it’s a cliche’, but if you look at the history of human nature, governments begin to fail when the leaders discover they can raid the public coffers and buy power.
Just imagine how great this country would be if we lived under the protection of the laws Mr. Black proposes enforcing. It is a national disgrace that the majority of the legal profession provides no more service to the victims of these crimes than to charge us fees to process the loss of our homes. This government has failed in its duty to protect its citizens, and it should be removed by any means nessesary. THANK YOU DYLAN!
Great stuff.
Bernanke is a dog shit !