While Congress does have a role in screwups. Nothing is making BoA or any bank do this but greed. They make plenty of money. The reason for these fees is simply another way to stick it to the little guy.
I’m sure the bonuses of senior management will come from these new fees.
“Nothing is making BoA or any bank do this but greed.”
You mean they weren’t greedy before? The way the free market works, competition puts a check on greed. The reason that’s not working now is because of regulation. Regulation is the thing that says you’ve got to do X, and so does your competition. BOA could not get away with this if Congress had not changed the rules for both BOA and the competition.